What was once a social platform that in all ways was the “New guy on the block”, LinkedIn boasted 675 million monthly users in 2020. 30 Million companies have a presence here, and an advertisement placed on LinkedIn can reach an astounding 12% of the world’s population.
They have recently announced engagement retargeting options, which will provide multiple ways to actually target these fruitful ads. What this new function will do is essentially allow advertisers to create retargeting audience of users who have interacted with Lead GenForms and Video Ads, and will be featured into accounts over the next 30 days.
Why was This Function Needed?
One of the difficult parts of buying media in paid social is that the vast majority of users have the preference of not vacating the platform. Without the ability to depend on behavior that occurs on site for retargeting, advertisers can get stuck sending ads at top-of-funnel to the same users repeatedly, without the valuable knowledge that they may have taken on-platform actions.
Facebook was great at developing the ability to recreate the possibilities for marketing based on a user’s behavior with they were on the platform, and ultimately gave marketers the means of targeting users who were engaging with posts. It also allowed for other options like singling out those who had consumed a certain percentage of video material.
Taking into account the cost of LinkedIn, many advertisers could encounter difficulty driving quality traffic to build a remarketing audience that is worth the cost to direct those users to their particular URL. Since LinkedIn is primarily business to business, the life span of a product tends to be long, with many valuable points of contact along the way to convert to a sale.
How not Incorporating Engagement Retargeting Affected Advertisers:
AJ Wilcox is the founder of B2Linked, a globally-renowned expert agency that handles advertising via LinkedIn. He claims that there is a very massive amount of value in the ability to keep top-of-mind for all platform interactions. Since the existing retargeting solution on the platform relies on cookies, half of the traffic does not quality, and it absolutely requires someone to visit your website to be effective.
Lead Gen Form Retargeting:
When you choose the “Matched Audiences” option, you will then have access to audience creation, and the ability to work with awareness, engagement, and conversion attributes. You can create audiences based on members who opened or submitted the lead forms you are currently running on LinkedIn. One valuable function is that the window for engagement can be from 30-365 days in the past, and the audience will have a minimum size requirement of 300 that is usable within a target.
Future Iterations of Engagement Retargeting: This is most likely to be a platform that continues to drive very valuable access to new audiences. It would be great to see the ability to retarget those who have already clicked on an ad, and then have visitors to personal profiles and company pages down the road.
The official announcement is here online, and many professionals in the industry like us at FarFetched Studios are excited about the potential. The important thing to realize is that LinkedIn is now the authority on everything related to a job search, and one of the most viable places to park your virtual truck and dig in for fruitful results!