There are different aspects of leveraging a business networking site like LinkedIn for growing your business and be assured of a decent ROI. Apart from boosting the sales, a consistent relationship building exercise can also enhance your credibility as a domain leader as well as the marketability of your brand.
You should show your commitment to become an active member of the group through comments on popular discussions and your readiness to help other people when they seek advice or generic ideas. Make it a point to respond in time to comments on any discussions you initiate. Post a discussion in a group as an online, informal conference. When you get into the role of a host, you also get to know each participant and gradually gain respect as a leader.
Keep your friends close to you and your competition even closer. There are thousands of companies that host their profiles on LinkedIn. The ‘public profile’ pages for companies incorporate key information on their business structure, history, corporate philosophy and developments such as recent hires, new launches etc. Not only do these profiles pages offer an insight into your immediate competition, but also give you scope to reach out to potential hires, clients and vendors. Regularly browse through company pages for the business updates.
You might have noticed that your LinkedIn group carries some ‘stars’. These are people who post thoughtful and engaging comments on a consistent basis. In the process, they draw the attention and appreciation of other members in the group. It is worth trying to be one of those ‘shining’ stars yourself by sharing insightful a few interesting updates, industry news and relevant topics.
Another important element of successfully leveraging a business networking site is through proper loyalty management. Incentives help you retain customers and let your business grow. LinkedIn offers you ample scope to strengthen business relationships with each and every stakeholder in your business. You can launch incentive-based online marketing campaigns by building and sustaining an open dialogue with your customers through your LinkedIn account.
The site also has on offer text-based advertisements, known as ‘DirectAds’, which are run for a fixed time span. These ads can be targeted using two specific criteria out of the seven specified, namely age, gender, job function, seniority, company size, geography and industry. The ads can be run at a relatively low price point. They are guaranteed to surface a minimum number of times on targeted pages based on the amount spent. If utilized in conjunction with a certain value-add or some kind of coupon, these ads can ensure a good return on investment (ROI).
Last but not the least, it is advisable to take another look at your LinkedIn profile and give it a thorough makeover. Why not make it a bit more actionable by doing away with those gaping loopholes and getting rid of clichéd terms. If you have been delaying the exercise, it is not a wise idea. Your competitors might already have moved ahead of you, something that you cannot probably afford, so you need to watch out.
