7 Reasons 50 Million+ Businesses Created A LinkedIn Company PageJan 01, 2021
Are you trying to build awareness for your business, acquire leads or even trying to hire top talents to join your company? If you are trying to achieve any of the above, then a LinkedIn company page is a must have in your business strategy.
And below I have gathered the latest data and stats about the platform:
- LinkedIn has over 706 million members across 200 countries and regions worldwide.
- 50 million+ companies listed on the platform ranging from small businesses, startups to big global corporations
- 280 billion feed updates are viewed annually
- Professional content gets 15x more impressions than job posting
- 94% stated that Linkedin is the #1 channel B2B marketers use to distribute content
- Makes up more than 50% of all social traffic to B2B websites & blogs
- 92% of B2B marketers include LinkedIn in their digital marketing mix
You might know of LinkedIn as a recruitment platform but obviously with the data and stats, we are seeing something more than just that. It has evolved to become a professional social media platform and it continues growing at a fast pace which cannot be ignored. Apart from looking purely at these data, I am now going to give another 8 reasons why you should consider having a LinkedIn company page for your business.
#1: It’s where the white collar professionals, high net worth individuals and C-executives hang out
If we take a closer look at the member base of LinkedIn, majority of the members are white collar professionals from fresh college graduates to serial entrepreneurs and C-level executives. I know in terms of quantity LinkedIn is nowhere near where Facebook, Instagram or even Twitter are at. But what it lacks in quantity, it makes up in quality instead as you can see below:
- 11 million+ C-suit members globally
- 46 million students and recent graduates on LinkedIn
- 90 million LinkedIn users are senior-level decision influencers and 63 million are in decision making position
- Average income of a LinkedIn user currently stands at US$ 46,644 per year
- 51% of US College Graduates use LinkedIn
# 2: LinkedIn members don’t go to the platform for funny cat videos
You might not realise that but it is obvious. When people go to different social media platforms, they carry a different intent with them. When you go to Facebook or YouTube, you are there to be entertained. You are there to watch funny cat videos or click into lifestyle posts that fit within your own hobbies. Everything is more personal.
On the other hand, people go onto LinkedIn with a completely different intent. They are here to learn and grow. They want to find out about the latest industry trends, learn from experts, identify growth opportunities etc.
You can see from below data that showcases the different mindset or activities people would do on different platforms. And because of this learning intent, it makes LinkedIn members more receptive to professional content such as company news, updates, industry trends etc. Imagine if someone is on Facebook scrolling through cat videos and your whitepaper shows up, do you think it will be received well? Probably not.
So if you are trying to share more professional content about your product or your business, LinkedIn is probably a better platform for that instead of other platforms.
#3: LinkedIn in the most trusted platform in Business Insider’s Digital Trust Report 3 years in a row
New data suggests that social media users are more receptive to ads on platforms that have high digital trust. Low trust can destroy a brand’s reputation or even cause members to abandon a social media platform. This is because they would feel their data is not getting protected and constantly getting wrong and fake information.
From the Business Insider report, it found that just a 2% chance for members to post deceptive content on LinkedIn compared to a 42% chance on Facebook. Being a brand or business, trust with the audience or consumers is something that takes consistent effort and time to build. Where you publish your content can say a lot about your business and can be a big factor that affects your brand’s’ trustworthiness and reputation. With the primary professional nature of LinkedIn, this risk is minimised and that makes it one of the biggest reasons businesses would set up a LinkedIn company page and publish content and ads on the platform.
#4: Your potential prospects will not marry you in first sight
Think about the last time you buy a phone, laptop or even a car. Did you do some sort of research? Just like how you make purchasing decisions, your target audience needs to do research before they can become your client. This is even true when it comes to B2B.
In research, B2B buyers are typically 57% of the way in making a decision before actively engaging with sales and 84% of CEOs and VPs use social media to make purchasing decisions With the help of internet, information became so accessible that buyers try to gather all sorts of information they can get their hands on before making any decision.
To get involved in your target audience’s decision journey, you can’t just purely have a website and pray that they would come organically and do research about you and your offering. If you don’t try actively get involved when they first do research, your competitors would then you would have already lost half the battle. Imagine how your competitors can build trust with your target audience by educating them what problems they have, how they should consider different vendors to even showcasing the potential results/ROI they can get. At the end, if you are the prospect, would you choose the business that has been giving you so much value and guidance or the one that asks you to buy their product straight up?
By leveraging LinkedIn company page, you can get into their research journey early and actively provide the information that they need to do research on. 80% of business decision-makers prefer to get company information from a series of articles versus an advertisement. And this is exactly what we see different businesses doing with their company pages. Publish and post case studies, industry trends, value-added content to these decision influencers or makers as this is the type of content they would want to read.
As they read, you are able to get involved in their decision making process and start to aware your company can be one of the potential solutions. And if you eventually are able to educate them enough and carry them through the decision journey, they become your long lasting clients.
# 5: Of all leads generated from social media, 80% of B2B leads come from LinkedIn
A study from Hubspot shows that LinkedIn is 277% more effective for lead generation than other social media networks. You can see the overall conversion rate of LinkedIn is way higher than other social media platforms out there from the image below. And the beauty is LinkedIn has a product called LinkedIn lead gen form which open a native lead form within the app or website with majority of the required information pre-filled.
On average you are able to achieve a 30% higher conversion rate compared to redirecting prospects to your website to fill in a web form. Hence LinkedIn became the main channel for markers to acquire leads especially in the B2B field. And the way that you are able to gain the professional background of the leads also make things easier for both marketers and sales to qualify them right after for any appropriate next steps.
#6: It takes more than money to hire top talents nowadays
Just like how I mentioned people make decisions previously, talents and employees conduct research on companies that they want to apply for as well. Especially nowadays when millennials want more than just a job with a high salary. Culture, reputation, mission, vision and even work-life balance all become a factor when they are considering the job offer.
To compete for these top talents across the globe, that’s why employers are also creating company pages on LinkedIn to not only share information about their products and services, but also their employees and testimonials. Highlighting how fun it is to work at the company, the opportunities and growth employees can get which help check all the boxes that these talents have in their mind when looking for a job.
Eventually a successful company is created by having talented people driving results and achieving business goals in a consistent manner. Hence LinkedIn company page becomes an essential part of the businesses as it is the main source of where your top talents will be coming from.
#7: Help your company get discovered on search engines
By having a LinkedIn company page, in some way it sort of becomes your second website. When people search for related products or even for the name of your business, you now have another opportunity to appear on the search result. This gives another way for your audience to discover or gain more information about your business. And once again, it gives you the exposure that your business needs to get involved in your target audience’s research or decision making journey. Another chance for them to discover about you, so why not!
To conclude, apart from the basic data and stats, I hope you see the reasons why the majority of businesses are setting a foot at LinkedIn and creating a company page. Ultimately, if your targeting audiences or potential employees are on the platform, you really should think about leveraging it.
So it is time for you to take action! Start by following the steps in this guide to create your own company page as the first step to your success.
Still got questions? Have a chat with us!