LinkedIn: An Overlooked Branding Tool?
While most of us make use of the likes of Facebook and Twitter with great gusto and impressive
“Although South Africa is the 10th-largest country on LinkedIn with close to three million members and has grown 38 % in 2013 (the biggest industries being ITC and Financial Services), the overwhelming majority of South African users merely upload their profile and add connections without tapping into the new marketing and lead generation capabilities of LinkedIn,” explains Dr Nikolaus Eberl, CEO of LinkedIncome and an associate of The Networking Company. “At this moment, very few go below sea level to explore the massive iceberg of business development and social selling opportunities that the world’s largest professional network is offering.”
While it is often mistaken as merely a tool for job searchers and recruiters, LinkedIn has become a powerful platform for online revenue generation and reputation management, among other things. Indeed, for those who are prepared to explore the various features, it can become a “secret weapon for B2B activities” that are often onerous and costly to implement.
The newly upgraded sales and marketing functionality on LinkedIn, for example, now enables business owners to establish a marketing funnel and product path online, potentially attracting new clients on an ongoing basis.
According to Dr Eberl, early adopters that have piloted the new LinkedIn sales capabilities have reported significant increases in lead generation. He points to IBM, which reportedly doubled the traffic to its seller profiles in one month; and Morgan Stanley, where 40 % of its financial advisers acquired new business within two months of using the platform.
Building a Brand Presence
Craig Rodney, MD of strategic communication agency Cerebra, adds that LinkedIn is often underestimated as a network for building a brand presence. “The site offers companies a platform to tell their story, share news, promote their services, and recruit individuals to join their businesses on a professional level,” he explains. “It is a social media platform built specifically with business and businesses in mind, making it the perfect environment for any company.”
As Rodney points out, local businesses aren’t necessarily overlooking LinkedIn as a business tool, but only a few are using it to its full extent. Company Pages on LinkedIn, for example, are growing more popular and useful as the platform evolves.
“Not only do they allow businesses to promote thought leadership, but also to promote their services and to advertise positions within the company,” says Rodney. “Obtaining buy-in from across a business will allow you to use people from within your business to promote your thought leadership, start engaging discussions about your products or industry, and position your business as a place where like-minded people will aspire to work.”
He advises that businesses looking to leverage their LinkedIn profiles need to be sure to engage with their followers and on LinkedIn Groups. “Answering questions in groups or even starting your own groups and creating engaging discussions is a great way to build brand advocates,” adds Rodney.
<sidebar1> The State of the LinkedIn Nation
· LinkedIn has more than doubled in size in the past year, with two users added every single second.
· Executives from all Fortune 500 companies are registered on LinkedIn.
· 45 % of LinkedIn’s members are considered the major decision-makers for their companies.
· LinkedIn holds the record for the highest average household income over all other social networking sites at over $109,000 per member.
**Copy courtesy of ‘Finweek’. Call 0860 103 911 to subscribe.**
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