LinkedIn Introduces an Extended Marketing Platform
The popular business-oriented networking website, LinkedIn has launched an extended marketing platform. The move is the company’s first major advancement in ad tech. This is also a major step towards the company’s goal to create $1 billion B2B marketing businesses.
The company is going into business with App Nexus and is planning to deliver ads based on data from LinkedIn. These ads will not only be displayed on LinkedIn, but 2,500 other similar business websites. The platform in question is divided into five parts – LinkedIn Lead Accelerator, LinkedIn Onsite Display, LinkedIn Network Display, Sponsored Updates and and Sponsored InMail.
Lead Accelerator is the main product that will allow businesses to divide their target audience into segments. From there, ads and content will be delivered in a sequence to each group. This way users will see more relevant ads.
The head of products for LinkedIn Marketing Solutions, Russell Glass stated:
It allows marketers to capture all the behavior about who’s visiting their website, who’s visiting their landing pages, and combine that with the intelligence LinkedIn has. That’s game-changing.
As I said, advertisers can display their ads to over 2,500 similar websites as part of the company’s Display Network. LinkedIn’s strategy is similar to that of Facebook and Twitter but they are targeting the professional scene.
There are some key attributes to understand about those differences, Glass said. These sales cycles are really long. In the consumer space when someone abandons the cart, you’ve got to get them right away or you’ve lost that opportunity to convert them. In the B2B world, these decision-making processes can last for as long as a couple of years.
LinkedIn has over 347 million users and majority of them are professionals and tech savvy people. LinkedIn has rich data on all of them such as current job, age, connections, browsing behaviours and more. Information like this is extremely useful for advertisers.
Advertisers who wish to use LinkedIn will need to sign-up for a quarterly or annual subscriptions. In order to sign-up, they should have at least 20,000 visitors on their website. LinkedIn is yet to confirm the cost of these subscriptions or any other requirement for signing up.