LinkedIn is not just a professional networking platform. It has evolved. We will highlight the B2B Marketing Statistics on LinkedIn you should know in 2020 and going forward.
These are the B2B Marketing Statistics on LinkedInYou Should Know in 2020
Image Source: LinkedIn
Before we begin you need to understand that LinkedIn boasts over 660 million users in more than 200 countries and territories across the globe. Linkedin has 30 million active companies on its platform. Going public in 2011 helped LinkedIn in its rise.
LinkedIn Marketing Statistics
If you’re looking for your B2B audience on social media, LinkedIn is the right place to be. The stats below should prove our point.
1. CONTENT DISTRIBUTION
97% of B2B marketers use LinkedIn as a content distribution channel. Neil Patel states that B2B marketers rely heavily on LinkedIn for distributing their content. Twitter is also popular among B2B marketers, ranking as the second most popular platform for content distribution (87%).
2. LEAD GENERATION
80% of B2B marketers use LinkedIn to forge relationships with professionals in their target market.
Image Source: LinkedIn
3. LINKEDIN ADS
58% of B2B marketers said LinkedIn Ads deliver the best value. This is maybe due to the lead generation rate and also LinkedIn being a platform that has more professionals within the B2B industry makes it easy to get ad value.
Secondly, Digiday states that 42% of marketers plan on increasing their LinkedIn Ad budgets in 2019 and 2020. This means that LinkedIn Ads work, furthermore it means that marketing on this platform is key to your growth.
4. CUSTOMER RETENTION
LinkedIn states that 65% of B2B companies have acquired a customer through LinkedIn. LinkedIn users are more likely to do business with someone they encounter on the platform. This stat once again establishes that LinkedIn is the place to go for B2B marketers looking to generate more leads and build up their customer or client list.
5. DIGITAL MARKETING
LinkedIn is the Most Preferred Digital Marketing Channel for B2B Marketers. This stat is important because it puts forward the notion that you need to be using LinkedIn in your marketing strategy if you want to grow.
Image Source: DemandWave
6. DECISION MAKERS
As of 2019, the platform had 90 million senior-level influencers. Decision-makers were at 63 million and opinion leaders at 17 million. But what does this mean? LinkedIn’s Marketing Solutions Blog states that From a B2B perspective, the decision-makers you’re trying to reach are using LinkedIn. If you double down on your LinkedIn efforts, you’ll be able to target the right people in the place they like to spend their scrolling time.
Secondly, 55% of decision-makers use LinkedIn to check/research on potential organisations to work with.
7. LINKEDIN CONVERSIONS
LinkedIn generates 3x more conversions than Twitter & Facebook. According to HubSpot. LinkedIn generated the highest visitor-to-lead conversion rate at 2.74%, almost 3x higher than Twitter at 0.69% and Facebook at 0.77%. Not only do more potential leads land on your website through LinkedIn, but they’re also qualified and willing to buy.
Image Source: Hubspot
8. ORGANIC AND CONTENT PAID MARKETING
B2B marketers prefer LinkedIn for their organic content marketing. Content Marketing Institute states that most of them also consider LinkedIn as the platform with the best content marketing results. The pie charts below illustrate just that.
Image Source: Content Marketing Institute
9. LINKEDIN SALES NAVIGATOR
The LinkedIn sales navigator helps marketers target the right buyers, personalise their outreach, and understand key insights. It helps them get close to the right people by finding the right leads.
B2B marketers have seen revenue increases by using LinkedIn. 43% attributed their sales to LinkedIn, Facebook followed at 24%, and Twitter at 20%. This means that LinkedIn is a great place to advertise. Gary Vaynerchuk states that people need to get on LinkedIn because its value is vastly underpriced.
OTHER KEY STATS FOR BUSINESSES
1. USER INCOME LEVELS
According to the Pew Research Center. LinkedIn users are highly educated. LinkedIn stats reveal that the network’s users are also high-income earners. 45% of LinkedIn’s user base has an annual income of $75,000, and another 24% of users have an income between $50,000 and $74,999 per year. Meanwhile, the average income in the US currently stands at $46,644 per year, meaning 69% of LinkedIn users have above-average incomes. For a business, this is good news because that means more disposable incomes for the products they are selling.
2. LINKEDIN USERS USE LINKEDIN FOR NEWS.
The majority of internet users (76%) rely on their Facebook feeds for news. Twitter is the second most popular option among social media users (41%), while for 36% is LinkedIn. What one can do is have a microblog where you bring up the current events that are related within your industry. Doing this leads to more eyeballs on your page.
3. LINKEDIN USER BASES
LinkedIn’s second-largest user base is in India at 53 million. China ranks third, with 44 million users, while fourth place goes to Brazil, with 35 million LinkedIn members. The United Kingdom, just over 25 million users. These four countries together have roughly the same number of LinkedIn members as the US alone. These stats are important if you’re a business because they help you establish your marketing plan per country.
4. FACEBOOK EFFECT
90% of LinkedIn members use Facebook. This means as a business you can target your audiences on both platforms. Remember the rule of 7 in marketing this is where it can also apply.
These are the B2B Marketing Statistics on LinkedIn You Should Know in 2020. I hope that these LinkedIn stats have helped you understand the importance of LinkedIn as a marketing platform.