LinkedIn unveils a new element of its Success Hub marketing data & insights platform. The new hub aims to provide additional information pertaining to the specific clusters of audiences. With the help of this tool the marketers will be able to delve into additional data points to make better marketing decisions that would resonate with the areas of interest of their specific clusters of audiences.
LinkedIn admits that with the availability of humongous volumes of data generated from the digital footprints of prospects across omnichannel, it is difficult for marketers & brands to get a hold of everything & thereafter scrutinize the most critical data points to make the most valuable decisions pertaining to their marketing needs.
LinkedIn, as a company, is excited to unveil the LinkedIn Insights & Research Page, which is a new feature within the Success Hub for Marketers functionality by LinkedIn. LinkedIn claims that this easy-to-use resource would equip the marketers to consolidate their multichannel & social media marketing strategies towards a better return on their marketing investments (ROMI) – delving into the comprehensive insights concerning audiences & specific niches within an industry. Not only this, the markets will also be able to optimize the landscape of their LinkedIn advertising endeavors.
The new tool will use data from the behaviors of the prospects on LinkedIn, to figure-out the industry specific insights. Obliviously a tool like this will allow the marketers to better monitor the evolving research methodologies being adopted by their prospects so that their finely segment into specific clusters during the process of market segmentation.
Segmentation of the prospects as per their specific areas of interests is an essential pre-requisite to optimize their experiences. Based on the interests of the specific audience groups, campaigns can be generated to target the audiences by specific advertising campaigns. Knowing the audiences better, also facilitates better engagement of the audiences & elevation of the sales revenues by streamlining their buying journeys through the conventional sales cycles.
Also, it is important for marketers to better understand their ideal personas not only to upsell the products them but also to figure out what sort of aftersales services will be required by their existing customers & what complementary products can be pitched to them.
Furthermore, the better the marketers understand their prospects & customers, the better it is for them to expand their base of existing prospects. While figuring out ideal prospects, reaching out to them through several advertising campaigns & converting them is a cost intensive process, understanding the evolving patterns of their personas can help marketers analyze how their personas have evolved & in what ways & to what extent their researching methodologies are being mimicked by similar audiences across omnichannel.
Once, the marketers are able to figure out the specific group of personas that exhibit the same buying behavior as their ideal personas, by the process called audience mirroring, they can split-test the group of new prospects & can retarget them to scrutinize whether they are intrigued towards a potential purchase.
The tool will empower the marketers to make better data-driven marketing decisions by measuring unique & actionable insights about the audiences of a particular industry. With a current base of 630 million members, 30 million businesses & 280 billion feed updates being viewed annually, LinkedIn is able to provide actionable insights on people, industries as well as advertising.
The platform allows marketers to explore audience behavior on LinkedIn & guides them on pathways to reach & convert their ideal personas. It also helps delving into industry insights & equips marketers to discover key insights, trends & pieces of research from their industry specific niches. Additionally, there is also a functionality for accessing & analyzing the advertising insights which allows the marketers to optimize the efficacy of their advertising efforts on LinkedIn.
In short, the new Insights & Research hub amasses an array of resources from LinkedIn at one place, mixes them up with a few new resources to generate a wide range of data insights.
A key element of the new hub is the ‘People Insights section’ functionality which allows marketers to delve a little deeper to figure out specific trends within specific sectors.
The first step consists of choosing a vertical from the drop-down menu at the top of the main window. This action allows marketers to narrow down their data set to specific industries & allows them to filter their insights. Once the options are chosen, LinkedIn reflects a set of information about the usage of the platform within that specific vertical.
Thus, the platform highlights to the marketing tams the key topics of their focus. This gives the marketers opportunities to optimize their content strategies. Not only the marketers can discover the key people to consult with regard to the products or service at their disposal, but they also come to know what are the brands being followed by these people on LinkedIn.
Thus, not only the tool helps in discovering the ideal marketing personas but also allows the marketers, chance to figure out their competitors & analyze how their prospects & competitors interact – what are the factors driving audience engagement & what are the loopholes in the marketing strategies of the prospects?
LinkedIn has added more data to the armory of the marketers which better quips to understand the key trends with their chosen sectors & act accordingly to optimize their revenues from their marketing endeavors as well as their sales revenues at large.
With the addition of new hub sections for capturing ‘Industry Insights’ & ‘Audience Insights, marketers can also assess a collection of LinkedIn blog posts & resources & can sort them by several verticals.
Although these sections offer a more generic segmentation & the specificity & refinement provided by the ‘People Insights’ is missing, they collect all of the resources of LinkedIn at one place; this allows the marketers to locate what they need.
As inferred from the following quotation, LinkedIn has eloquently advocated the platform & has projected it as a tool which will better enable the marketers to target the aptest personas within the niches of their industries:
"By understanding the makeup/behaviors of your audience, the context of your industry, and the most recommendable practices for LinkedIn advertising, you’ll be poised to make smart decisions geared toward sustainable growth."
LinkedIn with this new launch has again reignited a strong statement in the minds of marketers of all sectors across the globe that it is the owner of the most advanced professional database in history. As one would expect, LinkedIn is looking forward to monetize the garner of in-depth repositories of various trends & happenings & wouldn’t provide all the additional features for free.
People are anticipating that LinkedIn might add more information on its core functionalities such as the hashtag use, real-time content trends, insights on various types of trends, etc. Whether or not LinkedIn provides the additional functionalities for free, it’s also up to marketers to optimize their marketing investments with the clear analysis and coalescence of the most relevant data points. It will be interesting to see how some new pointers in this new element revitalize the conformist approaches towards data-driven decision making that the marketers have been abiding by.
About LinkedIn:LinkedIn is a professional social networking platform, which was founded in the year 2003 & connects the professionals across the globe, by providing them an interactive platform to be productive & successful. With more than 610+ million users across the globe, including executives from every Fortune 500 Company, LinkedIn happens to be the world's largest professional network on the internet. The business model of the company is diversified to draw in revenue from Talent Solutions, Marketing Solutions as well as from the Premium Subscriptions products. With its headquarters in Silicon Valley, Sunnyvale, California, LinkedIn has offices across the globe & serves as a platform for advertisement of 20 million jobs. The specialties of the company include Online Professional Network, Jobs, People Search, Company Search, Address Book, Advertising, Professional Identity, and Group Collaboration.