Inbound Mantra recently did a B2B Lead Generation LinkedIn Sponsored Update campaign for a client.
In this post, I present the results of this campaign. You could use these to take decisions on LinkedIn Marketing budgets for your business or your clients.
The client is an enterprise software product company serving the Who's who of India's Banking, Financial services and Insurance sector (BFSI).
Within this large BFSI sector, our client services a niche in the Sales and Channel function. Thus, the market served is limited with a defined set of players. Nevertheless, the problem being addressed is a large-scale one.
B2B Campaigns Done
The client generates B2B Leads from the following channels.
- Organic Search
- Google Adwords
- LinkedIn Ads
Adwords has fared the worst. Organic search drives predictable traffic and qualified leads, but inbound marketing is a long game. B2B Lead Generation LinkedIn sponsored update Ads have worked the best. Lets see the details.
Firstly, this is how a LinkedIn Sponsored Update advertisement looks.
The prominent image definitely drives up CTR (Click through Ratio), which actually is a double-edged issue. (More on that in a later post)
Campaign Targeting Criteria
- Location : India
- Industry : Only one sector was chosen. LinkedIn treats banking, insurance and financial services, as separate sectors.
- Job Function : Sales
- Seniority : Owner, Director, CXO, Partner or VP
The above targeting put the potential LinkedIn audience at 2718. Though a small number, it fit well with the client's buyer persona.Indicative. CPC and CPM bids proposed by LinkedIn are highlighted for your benefit.
In this particular case, Inbound Mantra was confident that it could garner more clicks bidding on CPM than CPC. A clever AD creative and smart copy also contributed to the confidence. Thus, we used CPM for bidding.
Campaign Settings - Bid, Budget and Duration
Lead Generation was the singular objective of this Linkedin sponsored update campaign. To improve the chances of successfully attaining this objective, it was imperative to reach the target audience quickly. Therefore, these campaign settings.
- Campaign runs : Indefinitely (The campaign was eventually stopped after a fortnight)
- Total Budget : ₹ 4,500
- Bid Method : CPM
The campaign was run for a fortnight and then stopped. Here is a quick snapshot.
The following graphs show how the campaign performed on a daily basis for clicks, impressions and CTR.
Are you wondering how many clicks converted into leads? Just jump to the last line. By the way, there have been some interesting takeaways from the campaign.
- Most of the clicks happen in the first few days.
- CPM appears to do better than CPC.
- In India, it takes just a little more than 1 ₹ to reach one LinkedIn member in this targeted audience.
- Not all clicks translate into visits.
If you have been undertaking B2B Lead Generation LinkedIn initiatives, we would like to hear from you. And don't shy away from criticising any of the steps we have taken above.Oh yes, the campaign generated TWO marketing qualified leads.
If this has got you excited, here is a BONUS tip on how you can get started for small.
You have a limited marketing budget. And there is pressure to crack open lead generation for B2B Sales. Sounds familiar, right. You would have surely thought, "Let me give LinkedIn a shot. After all where can I have enough of B2B."
As an inbound marketer, LinkedIn offers two broad options.
- The limited self serve option, where you can quickly get started with Text Ads, Video Ads and now, LinkedIn Sponsored Updates.
- The expensive LinkedIn Marketing Solutions that entail high fixed costs, thereby queering the pitch for marketing ROI.
Thankfully, and in this case LinkedIn, helps out with dollar coupons to undertake limited experiments to figure out if "things will indeed work". One such coupon is the $ 50 coupon from LinkedIn to run LinkedIn Sponsored Updates. All you have to do is write to LinkedIn Customer Service and ask them shamelessly for a $ 50 coupon. The only catch is that you have to spend $ 5 from your own pocket to activate the coupon. Well, there is one more catch. You also need to be managing the LinkedIn Company Page for the brand in question. This is essential to run the LinkedIn Sponsored Updates.
Good Luck with the ride!