A lot of ink has been spilled over the value of advertising on Facebook, Instagram, and, even the newest of shiny objects, TikTok. After all, these are among the largest online forums for social advertising and lead generation. Certainly, for B2C companies these other networks are excellent sources of engagement with customers. But what about marketing for B2B companies? Target audiences are often much busier, and they are spending corporate money. LinkedIn continues to be the most popular hangout for upper-level corporate staff with decision-making capabilities, and should not be overlooked in your marketing mix, even for B2Cs that are targeting wealthy individuals. LinkedIn lead generation has become a successful tactic for many business. I hope that these LinkedIn statistics for business will help you see how much potential LinkedIn has for your marketing and overall business goals.
What is really interesting is that most social media marketers today would argue that organic content visibility is highest on Instagram and LinkedIn. In fact, I have clients who consistently receive more impressions from their LinkedIn Company Page posts than the amount of followers that they have! Read on for some compelling LinkedIn statistics that will surely change your mind about how you see the platform!
If you’re in marketing or the corporate suite, chances are you know what LinkedIn is and you’ve been on the platform for a long time. After all, this network was designed for professionals in 2003. One of its key design characteristics is that you need a real world connection of some sort in order to connect to someone. Either you’ve known them as friends, worked with them or attended school together. You can also have someone else introduce you. Followers, on the other hand, can be total strangers with no common connections. This is great, because it means there is less opportunity for spamming or stalking people.
But this design also means that:
There are only 690 million users.
I say “only” because this is in a huge contrast to Facebook and its 2 Billion users. LinkedIn isn’t a place to share funny stories or find out about the latest technology toys. And since you can’t use LinkedIn to “find friends” or play games, the only real reasons to join the network are business-related.
With that said,
48% of its users are active monthly.
Even though this is a much smaller percentage than you see on Facebook (most people log in at least once a month), it still means that worldwide over 300 million people log in each month. And remember, these are professional people, generally speaking. Children and retirees aren’t likely to have an active profile, although LinkedIn for students is a small but growing demographic. It is safe to say that active users have money to spend.
Lastly, you should note that:
2 new accounts are created every second.
This means that, although the LinkedIn market is more limited, the network is continuing to grow. With an overall professional focus, we can only infer that these new members are primarily career-focused individuals. They might be job seekers, recruiters or occupants of the C-suite, but they care about where their careers are going.
Want High-End Customers? LinkedIn is THE Place.
Of course, “high-end” is an interesting term, so let me explain. For the sake of our discussion, it is customers who have a lot of money, high levels of education, or a high-powered career. These people have more money to spend on goods and services, and tend to care about their reputations.
Here’s the type of customer you’ll find on LinkedIn:
Among Americans with a college degree, 50% use LinkedIn.
Although this LinkedIn statistic is USA-specific, studies do show that this is not unusual worldwide. Professionals with higher levels of education are more likely to have a LinkedIn profile than their lower-wage, less-educated peers.
69% of LinkedIn users have incomes of $50,000 USD or more.
This is higher than the average American salary, and the statistic above covers worldwide LinkedIn statistics. In other words, even considering users from lower-income countries, the average LinkedIn user’s income is quite high. People in these income brackets are at least middle class in wealthy countries, and well-to-do in developing nations.
41% of millionaires have a LinkedIn account.
There’s a good reason for this. In addition to the “trust fund kids” and others with inherited wealth, many millionaires are high-level corporate executives and people with similar backgrounds. These are exactly the sort of professionals who love LinkedIn the most.
Corporate Decision Makers? THIS is Where to Find Them.
If you’re trying to sell goods and services to other businesses, this is one of the best social network locations to target. After all, with a professional focus comes a larger concentration of corporate decision makers. These can be purchasers, executives or even recruiters hoping to make a positive impact on their company.
Let’s break this down:
90 million LinkedIn users are senior-level influencers.
These influencers are the thought leaders of business. They help other people get a sense of what they should buy, read, and consume in a business context. Many of them, of course, are also high-up business leaders themselves. Examples include Bill Gates and the late Steve Jobs.
There are 63 million decision makers on LinkedIn.
Put another way, 10% of LinkedIn users have some form of decision making capabilities at their companies. Even low-level human resources employees, however, can have considerable influence on what direction a company takes, and what products or services are purchased. After all, there are lots of commercial tools available for those who make hiring determinations. And of course, human resources helps recruit managers. Want to sell employee benefits? Human resources personnel are often the ones to reach.
At least 10 million corporate executives have accounts.
Want to put something out there for these executives to find, without the secretary getting in the way? LinkedIn ads or content are a great way to do it. Although these executives are typically very busy people, they tend to check their own social media accounts. Get an impression in the right place, and they’re all ears.
LinkedIn is THE Key to Business Buying Decisions.
It almost goes without saying, but decision makers do their research before deciding on a course of action. This could mean doing due diligence on a potential new hire, or asking around for the best solution to their problem. But it also means ensuring that the products and services purchased are the best ones to fit the needs of their business.
45% of those who read articles on LinkedIn are management-level employees.
These are the people who do most of the buying. While a line manager might request certain specific things from higher-ups, or be sent to Staples for a basic office item, as a rule those who make large-ticket purchases are higher up in the company.
Among B2B websites, including blogs, 50% of social media-related clicks are from LinkedIn.
What this means in practical terms is that LinkedIn is a major place where managers look for information on business-related products and services. If you aren’t advertising here, you’re missing out on a lot of potential referrals.
If that isn’t enough to convince you that LinkedIn is important, consider:
Decision makers read an average of 10 articles before buying something.
That’s a lot of content, and it shows that stakeholders like to know as much as possible about their options before choosing one. Whether that’s influencer content or explanations of a product from the manufacturer, it needs to be where the decision makers will see it.
70% of professionals trust LinkedIn for information.
Why? Well, I didn’t find an exact reason, but it is easy to guess that it is the quality of fellow members. Also, businesses generally put their names directly on content published through LinkedIn. What I mean is that it’s their own brand of content, rather than something sponsored and put out there by just anybody. It’s written or produced by marketers specifically for decision makers to know what a company has to offer.
90% of executives turn to LinkedIn as their preferred content source.
Remember, the higher up the chain of command in a company, the more power that person has to make buying decisions. And it stands to reason that they’re the ones who make the decision on really big purchases. For example, the CIO might be the person who signs off on the purchase of 100 new desktop computers for the staff.
In B2B sales, 80% of social media related leads come from LinkedIn.
Given that so many executives use LinkedIn as a research source, this isn’t really surprising. In just a few minutes, busy professionals can read up on industry trends, groundbreaking innovations, and popular products for business. If they’re consuming so much content here, it’s no wonder that decision makers click on links here or cite LinkedIn as their referral source when talking to sales.
Want Highly Visible Content? That’s LinkedIn’s Specialty.
If you’re like most B2B marketing professionals, you want content that will stand out above the crowd. After all, in order for your carefully-prepared articles to reach the right sets of eyes, it needs to not be lost among the beauty product reviews and model-building tutorials. That’s why LinkedIn is such a great place to publish your content. It’s mostly for business purposes, so people and companies go there to see and be seen.
Consider these LinkedIn statistics for your LinkedIn content strategy:
Over 130,000 articles are published through LinkedIn every week.
That’s a lot of articles, but not nearly the number of those produced on other platforms. One reason for this, of course, is that LinkedIn has specific rules on what can and cannot be published there, and those rules are enforced. They’ve made it clear that this isn’t the place for discussing hobbies or the latest celebrity gossip, for example. What does this mean? Those 130,000 business articles don’t have to compete with other types of content for attention.
LinkedIn is the 20th most visited website in the world.
Granted, Facebook and Youtube are more popular, but they’re also really crowded when it comes to published content. Also, these other social sits aren’t publishing such a large percentage of business-related material. Certainly Youtube is a great place to put business-related “how-to’s,” but that isn’t the same thing as an article that can get indexed as text.
The best content publishers see a 120% growth in page followers each year.
The implications of this should be obvious: people are searching out quality content on LinkedIn. To be sure, getting your LinkedIn articles indexed by Google will help with page views a bunch. After all, people don’t exactly spend a ton of time on LinkedIn every day. But it also means that business decision makers are willing to spend the time to read relevant material.
Some Types of LinkedIn Content are More Effective Than Others
Like with most platforms, not all marketing efforts are created equal. It’s important to remember that on LinkedIn, your target market as a rule is busy professionals who don’t have time to sift through the clutter. So, what do we know about the effective use of this platform?
Including a link increases engagement by 200%.
Let’s face it, nothing invites people to your website by posting a link to it. If they have to Google your company name, it eats up valuable decision maker time. Plus, it’s well known that posts get shared when they’re seen as useful, and having links to relevant websites increases the value of your post.
98% of content that includes images gets commented on more often.
People love visuals, whether that’s graphs, illustrations, or infographics. These either put information into a concise format, or allow the viewer to see things in a different way. For instance, bar graphs allow proportions to be more obvious. Plus, this type of content can be reused for presentations, such as when a new product is being explained to employees. This adds value without it being more expensive.
Long-form content is the most shareable.
According to OKDork, the content that goes viral is mostly long-form content. Given how busy professionals on LinkedIn are, this might seems surprising. However, long articles give potential customers a chance to learn more about your product or service. When this is helpful to someone, they’re likely to share it with others in the same industry.
If you’re involved in B2B marketing, it’s hard to argue that there are many channels more valuable for reaching customers than LinkedIn. Members tend to be highly educated, well-placed in business and able to influence buying decisions.
Grab My Free LinkedIn Ebook!
These are the LinkedIn statistics you need to consider. Now, what’s your LinkedIn strategy? If you need more help, make sure you graba copy of my free LinkedIn ebook Maximizing LinkedIn for Business.
Learn more about critical statistics and numbers for LinkedIn, in this great infographic from Oberlo!