Social media marketing is cutthroat, and brands need to fight for attention. But with the right understanding and analytics, you can stand out. One way to do that: The All-Mighty LinkedIn Post!
LinkedIn strategies are almost perfectly designed for B2B companies. When done the right way, a smart LinkedIn post can build brand awareness around your company name, target key prospective customers, and - most importantly - make a ton of money.
In this article, we'll share important metrics to help you maximize ROI. Consider this your Ultimate Guide to LinkedIn.
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LinkedIn Metrics track company page performance with indicators like followers, clicks, shares, and comments. When optimized, these metrics are indicative of a high Engagement Rate.
High engagement rates mean more people are interacting with your content on LinkedIn, increasing visibility. Your engagement rate is measured by your total number of engagements (Likes + Comments + Shares) divided by your total number of impressions. Keep this formula in mind because this is the secret sauce that every business needs to increase reach and awareness through social media marketing.
Okay. Recap over. Let’s get into the good stuff.
Website traffic is the number of people who visit a website. It plays a critical role in any online marketing strategy, especially when it comes to LinkedIn.
Website traffic is important for measuring the success of content marketing and SEO strategies. If a website’s page views are high, that’s good! That means there’s a good chance that your brand is growing in popularity. Like cat videos on YouTube.
Organic Traffic is like normal traffic, except free from GMOs.
Organic Traffic is a great way to measure content marketing and SEO success without having to pay for Google ads. It refers to the number of people who find your content through search engines, social media, email, or other channels. The more traffic you have, the more popular you are. Like different cat videos on YouTube. Did we already make that comparison?
On LinkedIn, growing Organic Traffic boosts visibility and helps gauge audience interest and awareness.
Unlike Organic Traffic, Paid Traffic measures your reach through sponsored content, such as paid search and display ads. There are two types of LinkedIn Ads that fall under Paid Traffic:
— Boosted Posts appear on the feed of your followers.
— Dark Posts are promoted to target audiences without appearing organically on the page.
Sure, it may cost more than Organic Traffic, but it's an effective way of reaching a large audience, especially if you're targeting a particular audience segment.
Oh, and if you ever want to do some research on your competitors, LinkedIn allows you to view all the paid ads that they're running. Please snoop responsibly.
Cost Per Click (CPC) is the total cost of an ad divided by the number of clicks it receives. It’s important to keep costs reasonable in order to increase conversions and overall ROI. Think of CPC like golf - the lower the number, the better. By improving targeting methods, optimizing Call To Actions (CTA), and creating valuable content with relevant keywords, you can increase your CPC and rake in those sweet, sweet returns.
Click Through Rate (CTR) measures the percentage of LinkedIn users who view an ad versus those who actually click on it. CTR shows how effective your ad is in getting your target audience to do what you want them to do. The higher your CTR, the more likely people are to click on your ad. That means your ad is doing its job communicating your message and (potentially) leading to conversions. A high CTR can also indicate that your ad is attention-grabbing. After all, people click on the ads that they find helpful and relevant, right?
Conversion Rate (CVR) is the percentage of people who visit your landing page and complete the conversion action, i.e., becoming a lead or purchasing a product. Your conversion rate tells you if your ads are hitting the mark with your audience and if your landing page is doing its job. If it’s lower than you’d like to see, make changes to improve your results. It’s all about testing and seeing what works, and then doubling down on it.
Cost Per Lead (CPL) is the cost for acquiring one lead. Easy, right? You can calculate it by dividing the total cost by the number of leads generated. CPL measures marketing effectiveness and efficiency for generating leads, not just on LinkedIn but also on other social network platforms like Facebook, Instagram, TikTok, and Twitter. A lower CPL means more quality leads and higher ROI.
"MQL to SQL Conversion Rate" is the percentage of Marketing Qualified Leads (MQLs) successfully converted into Sales Qualified Leads (SQLs) through marketing and sales efforts.
MQLs are like Tinder matches. They’ve shown interest in your products or services, but still need some convincing. That’s where the marketing team comes in and turns them into SQLs, which are leads ready to be contacted by your sales team. If MQLs are Tinder matches, SQLs are the dates that you want your family to meet.
You can calculate this by dividing the number of converted MQLs by the total number of MQLs. A high conversion rate here indicates an effective marketing and sales strategy. A low rate may require reevaluation of lead qualification or sales process.
Customer Acquisition Cost (CAC) measures the cost of acquiring new customers or leads. Unlike Cost Per Lead (CPL), CAC tells you how much it costs to bring in a new customer, from the moment they first hear about your brand to the moment they become a loyal customer.
Once you figure out your CAC, you can analyze how effective your marketing campaigns are at bringing in new customers, and you can decide where to allocate your resources.
Customer Lifetime Value (CLV) estimates the total revenue a customer will generate during their lifetime with your company, based on their purchasing behavior. By understanding CLV, businesses can decide whether to invest in acquiring new customers or retaining old ones. For example, if you've got a customer with a high CLV, it might be worth offering them special deals or rewards to keep them coming back.
By targeting your marketing efforts at high-value customers — like those who spend a lot, buy frequently, and stick around for a while — you can make sure you're getting the most out of your marketing budget and maximizing your revenue over the long term.
By utilizing the metrics we've discussed, you can gain an understanding of just how effective your LinkedIn B2B Marketing Efforts are. You can use this data to measure the performance of both your LinkedIn company page and your individual LinkedIn profile. Then, watch as you surpass all the industry standards. So, go ahead and track your progress, refine your strategy, and revel in your success.
LinkedIn is made to be easy, so any company can market itself. But if you want to see even more returns from your LinkedIn campaigns, give us a shout.