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What Conversion Ratio Can Be Achieved With LinkedIn Ads?

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What Conversion Ratio Can Be Achieved With LinkedIn Ads

For some time I have seen that has generated controversy around the significance of inbound marketing and use of shares of Pay per Click as a steroid accelerate a campaign of inbound. 
 

From Asmalljob, we wanted to launch an experiment with LinkedIn ads earlier this year and I thought interesting to share and also take feedback from any of you.

Experiment: Select a landing page that has an actual conversion ratio above 20% and make a post LinkedIn promoted in ads to reach 100 clicks. (N = 100)

The landing we selected was the last we’ve created on the Buyer Person, it is a content that is in the stage of “consideration” of the buyer journey (we can discuss whether it is “consideration” or “decision”, we in this case we treat as “consideration” and that ” decision” for us would be free inbound marketing consultancy).

The landing page before starting the campaign as we can see online and put the 01.05.2016 we show the results until 22.05.2016 (the day before starting the campaign LinkedIn ads).

As you can see conversion rate we have is a 29.73% which is not bad and the ratio of new contacts a normal thing to be 2.7% content Mifu (middle of the funnel) or also call you stage Journey consideration in the buyer.

Now we want to do with the campaign is to get new contacts in our Mifu for it, thanks to the people of Linkedin in Dublin, we will use a voucher of $ 250 gift that passed euros has given us just 200 euros to upload to linkedin. 

LINKEDIN STRATEGY
 

Our touted announcement is a “sponsored content” that allows us to be within the timeline and not on LinkedIn sidebar. This is very important for us because with our philosophy of inbound not have to be content advertising.

Audience Segmentation

This is where the inbound helps us a lot, because as we fully developed the individual buyer to which we turn and segmented data using Job title, number of employees and country . Our bidding strategy in this case was very aggressive as people Linkedin told us that the algorithm using rewards high bids and give them more visibility, so we went to an initial strategy. Cost per Click of 1 euro above the arc of the recommendation. A daily investment of 50 euros and a limit of 200 euros campaign gift voucher). 

We started the campaign on May 23 and we see that our CTR is quite good with a 1.524% this gives us 16 clicks and spent 52, 41 euros. This is doing well, but we see that we can optimize to have as high CTR and spend the campaign with CPM costs about 18 euros.  

CPC = 3,28 euros CPC bid

CPC plans = 1.2 euros CPC keeping the CTR we have

So we decided to go to CPM bid 18 euros per CPM and leave the campaign with this setup to finalize the May 28 with these results.

Since the change of setup make no further optimization and let the campaign run its course until finalize the budget, our hope was that we reached 100 clicks to at least be equal to 100 level statistical base, but we were in 98 that being pragmatic we will give a statistical practically equal to 100 and only what you can ask my friend Sergio Romero of mdk market research market research that helped me with the statistical issue. 

Final results:

  • Cost per click end = 2.04 euros.
  • Average CPM = 17.01 euros.
  • Clicks = 98

Now all this as you may have noticed is only part of LinkedIn ads, sure you must be wondering, Is this guy has forgotten the landing) … now comes the good results of the landing.

LANDING PAGE RESULTS
 

A general level conversion ratio has been under siege in a 20.59% with 17 new contacts. This means that we have gone from having two before making the campaign to 17 during the period of the campaign. Or put another way the campaign has managed to gain new contacts for our Mifu.

The ratio varies if we LinkedIn data (where we can see a divergence 4 visits between what we LinkedIn accounts that are 98 clicks and what are HubSpot has posted 94 visits social media) but are between 20.59% which gives us HubSpot and 21.42% if we only social media. 

Now let’s look at the price and quality of the leads.

The price x lead in this case is 17 new contacts between 200 euros that have invested that gives usa score of 11.7 Euros. (Although we did have 21 records, we have 4 contacts that we had in our database and both this cost is not the story)

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A level of quality leads, thanks to the content of the offer is Mifu, we were able to qualify and we have found that we have 36.8% of these leads that have become MQL , ie 7 MQL. If we are interested to know the cost of each MQL we just have to divide 200 euros between 7 MQL gives us a cost of 28 euros . So far we can go in the analysis, as the campaign ended last Friday and these new contacts are currently in nutrition opportunities, but in a few weeks will update the post to covering the complete cycle. 

CONCLUSION
 

– LINKEDIN ADS is an excellent platform to power our inbound marketing landings Mifu. (27% vs. 21% drop is not significant are above the 20% target inbound)

– LINKEDIN ADS serves to get contacts Mifu and also can qualify at the time. (+ 350% contact)

– We cut drastically periods natural nutrition and qualification if we use LinkedIn ads. ( 17 contacts in 5 days, 7 are Marketing Qualified Leads with a potential purchase decision of 1,540,000 euros/year)

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