Updated: Jun 7, 2022
LinkedIn is host to millions of users all over the world. It's a unique platform that has earned an outstanding reputation for connecting professionals across the globe, accelerating individual/corporate growth, and building more audiences for sales and marketing.
We have previously discussed how B2B marketers can leverage LinkedIn for better marketing results and how to use our unique LinkedIn marketing tool to simplify and improve lead prospecting on the platform. So our focus in this particular post is to highlight practical ways to analyze your marketing campaigns on LinkedIn.
Ever heard the saying, "If you can't measure it, you can't improve it"?
That inspired this post, and we believe these 6 tips will help measure your marketing efforts so that you can gain better insights to create more targeted and optimized campaigns.
Identify your Key Metrics
The only way to measure something is by first identifying what you're measuring. So before you set out to measure the performance of your LinkedIn advertising campaigns, you must have defined the key metrics depending on your marketing goals. It is the first and most important step to building a successful marketing strategy.
For instance, if your objective is to build more brand awareness, you'll need to focus on clicks, impressions, click-through rates, and website visits. LinkedIn even has a guide written on this. If the essence of your campaigns is to get more leads and conversions, then it will be right to measure your conversion rate, cost per conversion, cost per lead, and click-through rate. You can get more help on best practices, checklists, and recommendations regarding identifying the metrics you should measure.
Set Up Conversion Tracking and Lead Generation Forms
Setting up conversion tracking is one of the most powerful ways LinkedIn marketers can measure the performance of their campaigns. It offers you reliable insights and a comprehensive view of ad performance inside and outside the platform. Conversion tracking measures your conversion, conversion rate, and cost per conversion.
Lead generation forms, on the other hand, are most valuable for tracking sponsored ads on LinkedIn. LinkedIn lead generation forms are typically pre-filled forms (based on data in your LinkedIn profile). They help eliminate the need to complete several fields when you need to access valuable content or register for anything on the platform.
The Lead Generation Form offers marketers accurate and actionable lead data. It can track key lower-funnel campaign metrics, such as cost per lead, lead form fill rate, and the number of leads from specific professional audience segments. Find out more about using LinkedIn for lead generation.
Set up Insight Tag
Additionally, you can track conversions even if the users leave LinkedIn to go to your website or if they viewed your ad without clicking on it.
Using Campaign Demographics
Successful LinkedIn prospecting often aims to reach more of the right people rather than more of everybody. B2B advertising is more about the “who” than the “how many.” It is essential that the right people see your ads. To improve your ad performance, you can use the professional demographic data on LinkedIn to discover and target new audiences. You can start by viewing who engages the most with your ads.
Campaign Demographics allows you to see the categories of users interacting with your ads based on critical identifiers that you must have set, such as job title, role, company size, location, etc. Alternatively, the Audience Expansion feature can also help you reach new audiences that are similar to your target audience. You can activate this by checking the box underneath the targeting criteria.
Optimize with Weekly Review Insights
Considering the complexity of today’s buyer journey, it might take a while before the full impact of your marketing efforts become visible. Avoid the mistake of measuring your ROI too soon. The result you get may not be truly reflective of your efforts. And as time goes on, you can always go back and test out new ideas. Make tweaks to your campaigns by changing one or two features.
Based on the results you get, you can tell what works best for your business and what doesn't. Ideally, the changes you make ought to align with the first tip we discussed — your marketing objectives.
Optimize with Performance Insights
With the Bid & Budget data in the reporting dashboard, you can further improve your ads. Use your campaign insights to understand how your ads are performing. Aside from seeing your total and daily ad budget, you'll also be able to get recommendations to improve your bids and budgets. This campaign insight helps you make important campaign decisions.
Also, you can test variations of your ad creative within each campaign. As you make changes and understand the versions of your ads that perform best in your key metrics, you can make necessary adjustments to improve your ad performance. Fir beginners, LinkedIn marketing insights can often seem like a challenge to master. But over time, you'll become more confident as you test out different campaigns.
B2B marketing on LinkedIn doesn't actually have to be hard. What if we told you that you could automate your marketing and make the most of your campaign efforts while freeing up more time for other tasks?
Yes, with our LinkedIn marketing automation tool, grobot, you can confidently take the guesswork out of your prospecting effort and grow your business with the best results. grobot is the solution that helps busy marketers, sales professionals, and small businesses to save dozens of hours every week and drive up to 10x more leads with double the response rates with target prospects. Request for a demo tidal and try grobot for free.