LinkedIn, like most social platforms, saw immense growth in 2020. The professional networking platform has kicked off 2021 by releasing new statistics about usage. Their aim is to convince the B2B space that it’s never been a better time to invest marketing dollars into LinkedIn. Below, we explore a few of the key statistics.
User Base Growth
With many unexpectedly job hunting during the pandemic, it’s no surprise that new users were signing up left and right. According to the infographic released by LinkedIn, three new users sign up per second. That’s a statistic we wouldn’t put too much stock in, as it’s almost certainly an average pulled from the total number of new users across the full year. It doesn’t necessarily mean three new users continue to sign up every second.
Still, the platform has grown to a user base of over 760 million — not too shabby. This increased audience range could prove to be a lucrative resource for B2B marketers this year. Not to mention, their member engagement numbers are on the rise as well, with 6.3 million attendees to virtual events in 2020 and a 23% increase in messages sent year-over-year.
I Can See Your Halo
According to the data LinkedIn shared, there’s something to be said for the impact marketing on this platform can have on a business’ reputation. People generally have a high level of trust for LinkedIn, and that can translate to increased trust for your brand, too. In fact, making a good impression with a LinkedIn ad led to a 10-15% lift in short-term sales performance for brands.
For three years in a row, Business Insider has named LinkedIn as the number one most-trusted social media platform. Though, they haven’t faced the most stiff competition for this, given that other platforms are in the news frequently for things that undoubtedly stoke trust issues — Facebook being sued by the FTC, or TikTok nearly being banned in the US, just to name a few.
“LinkedIn offers a setting where people can ground themselves and find reliable insight. Marketers and advertisers on the platform benefit from a “halo effect,” meaning that content is perceived in a more positive light because of the surrounding environment.”LinkedIn Blog
LinkedIn’s data does show, though, that brands can gain reputability by marketing on their platform. After users encountered a brand’s ad on LinkedIn, their general opinion of the brand improved, being seen as:
- 50% higher quality
- 92% more professional
- 74% more intelligent
- 59% more respectable
LinkedIn presented some very interesting and important evidence to support their value as a part of your marketing plan. It’s time for B2B marketers to take a step back and consider how this growing platform and its “halo effect” can help support your lead generation and sales funnel in 2021.