Jul 1, 2020
Small Biz Buzz hosts Crystal Heuft and Scott Martineau are joined by AJ Wilcox, who works for an ad agency that helps with the account management side of LinkedIn Ads as well as teaching, training, consulting, auditing, and anything else individual teams need to attract leads.
Wilcox expressed that the big limiting factor for LinkedIn Ads is their cost. The average cost per click, when you're using their ad network in North America, ranges from $8 to $11. This isn't traffic that's ready to buy–these are individuals who are interested in learning more about topics, or they're interested in consuming content. So $8 to $11 a click for something that is more mid to top of funnel.
“What I tell people is, if you have a lifetime value of $10,000, $15,000 or more of one of your future customers, then LinkedIn Ads is a great place to get to know them and get in front of them,” said Wilcox. “If less than that, smaller B2C offers, even smaller B2B offers, you're going to have a really hard time getting a return on your investment.”
Wilcox said you're launching a combination of AMO–your audience, your message, and your offer when you present your LinkedIn ads. The first thing you're going to be looking for is your click-through rate.
“I think most people who start using LinkedIn Ads should use one ad format. It's called single image sponsored content,” said Wilcox. “It's the simplest, shows up in your newsfeed type of ad. Very versatile. And the average click-through rate on these across the network is a little bit less than half a percent.”
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