A business-oriented social networking site, LinkedIn is primarily used for professional networking. LinkedIn’s global user base is expected to reach 774.61 million users in 2021. By 2025, the number of LinkedIn users worldwide is expected to reach 1,034.56 million. Company filings or press material, secondary research, app downloads, and traffic data were all used to estimate user numbers. They refer to the average monthly active users throughout the course of the period and only count multiple accounts by a single person.
LinkedIn and Business
LinkedIn has more than one million Company Pages (formerly called company profiles). Marketers should consider LinkedIn because it is a valuable demographic due to its affluent & influential members. LinkedIn APIs are used by thousands of developers to create innovative tools and services for professionals. Among all social networks, LinkedIn is the most trusted. (Business Insider)
Those facts are impressive, but how can they help you and your business?
As opposed to Twitter, Facebook, and other popular social networks, LinkedIn is a professional networking site. LinkedIn offers numerous advantages to companies doing business with businesses. It also provides distinct advantages to companies doing business with consumers.
The following are some of the benefits for companies using LinkedIn:
1. Take advantage of the power of social media to build your professional network.
With an online professional networking environment, real-world networking tasks can be accomplished more quickly and efficiently. Linkedin is the ideal platform for building your network. LinkedIn allows you to review the recommendations, reviews, and experience of a supplier, accountant, or lawyer before making contact.
Additionally, you can expand your network using Linked In. In the profile of a potential connection, LinkedIn will display the degree(s) of separation between you and the connection. You would see, for example, on Kevin Bacon’s LinkedIn profile that Kevin’s accountant is friends with his attorney, and the attorney is friends with Kevin. When you use LinkedIn as a networking tool, you can see your mutual connections with third parties. You can use this information to introduce yourself to an important supplier, distributor, strategic partner or future employee.
2. Getting exposure for your product(s), service(s), and for attracting top talent with a LinkedIn company page
LinkedIn allows companies to create company pages that feature their products or services. Your company will gain more exposure because there is yet another location on the web where potential suppliers, employees, and distributors can find out more about your product or service. By placing a link to your company website on your profile or company page, listing your company will further improve traffic to your website.
Lastly, your company can post job openings on its page. LinkedIn members who are seeking jobs can search for jobs on LinkedIn, and your company will have a better chance of finding qualified candidates. Additionally, LinkedIn users are more likely to be innovative go-getters than those using standard job hunting sites.
3. Attract new clients and increase the credibility
A company can always improve its credibility, no matter what it is. Through LinkedIn, you have the opportunity to receive recommendations from past clients, employees, etc. (These reviews are not posted unless approved by the company.) By seeking recommendations from individuals with whom you have conducted business, you increase your credibility with potential business partners. Members of LinkedIn can also follow companies to stay up to date on important information about those companies.
As a result of receiving recommendations and having followers on LinkedIn, a company can grow its business. With so many positive reviews and followers, who wouldn’t want to work with a company with so much goodwill?
1. Why is LinkedIn important for business?
LinkedIn for business allows you to establish credibility, build a relevant network, and gain insider knowledge from industry experts. With 722 million subscribers as of January 2022, LinkedIn is the world’s most popular business network.
2. How Can Businesses Benefit from Using LinkedIn?
- It assists you in achieving a higher search engine ranking. Your company name will always rank higher in searches if you have a LinkedIn page.
- You have the ability to network. Businesses occasionally collaborate on larger projects with other businesses.
- Keep yourself up to date.
- When you need employees, Find them.
Conclusion: LinkedIn is Beneficial to Your Business
The bottom line is that a company needs to be on LinkedIn in order to build a business through the power of professional social networking. Having a business is not just about sales, but also networking on a professional level. LinkedIn is an excellent tool for growing your referral network and knowledge base, attracting new business, attracting quality employees, and promoting products and services.
You can message us at Info@smeacademy.asia to know more about how your business can benefit from LinkedIn.