LinkedIn is an excellent self-service advertising platform for marketers and advertisers to promote their business and services. And, while Facebook and Twitter are more prominent as advertising and marketing platforms, marketers will be losing out in not advertising on LinkedIn as part of their marketing strategy. For, it is, after all, the fastest growing professional social media network out there.
A Basic Introduction to LinkedIn Ads
If you’re looking to advertise on LinkedIn in India, first know that there are two kinds of ads you can set up on LinkedIn via LinkedIn’s Campaign Manager: Text Ads and Sponsored Ads. The text ads will only appear on desktop devices like PC’s and laptops and will, hence, not be seen by any mobile device users on LinkedIn. Plus, as these ads only allow text content, any image content in the ad will be automatically omitted. Such ads are good for headline-styled ads, where a call-to-action or lead is all you need to get LinkedIn users interested. Sponsored Ads, on the other hand, can be seen by both desktop and mobile device users on LinkedIn. They appear either (or both) on the LinkedIn home page’s main feed as well as on the right panel of the LinkedIn home page.
Once you’ve decided on the kind of ad you want to display, the next most important factor is the targeting specifications of your ad: The skills of your target audience, industry(s) of your target audience, job titles of your target audience, etc. Any one or more of these targeting options need to be specified in order to optimally target the audience who needs to your ad(s) on LinkedIn. However, know that LinkedIn requires your target audience to be at least as large as 1,000 members.
The Major Factors Influencing Each LinkedIn Ad’s Cost
LinkedIn allows you to limit your ad’s cost by letting you set a start and end date for your ad. Additionally, LinkedIn allows you to limit your advertising costs in two ways: You can either specify a maximum daily budget that you’re willing to allot for your ad; or you can set a “bid” for your ad. If you pick the bidding option for your ad budget (which is also the most commonly picked option for LinkedIn ads in relative terms), you once again have two options for specifying your bid: CPC or CPM: CPC refers to Cost Per Click, and in this kind of bid, you’re specifying the highest amount you’re willing to pay for every click on your ad. CPM refers to the cost you’re willing to pay for every 1,000 impressions that your ad receives on LinkedIn. The “bid” amount ranges depend on the current competing bids for your ad on your specified target audience, and LinkedIn will specify a range of amounts you can choose from depending on these current competing bids. As such, these competing bids for your target audience is the main criteria that will influence your ad costs. Secondary to this is the target audience [options] you pick and its relative size, as this influences what the current bidding competition level is in the first place.
Setting up a LinkedIn Ad in India
The Indian Rupee (INR) is one of the supported currencies on the LinkedIn platform. So, in order to pay for your ad in India, you need to first choose INR as your currency.
As mentioned earlier, you’ll first have to pick your ad type and ad targeting options. Then, you’ll be asked, “How would you like to pay for this campaign?” And you can either choose between paying for every time someone clicks on your ad (CPC budgeting) or every time your ad is shown (CPM budgeting). Then, under the question “What’s your budget for this campaign?”, you’ll have to specify your total daily budget for your ad campaign. Based on your input, your ad will be shown as often as possible in a day until the daily budget you specified has been depleted (For instance, if you’ve picked CPC as your bidding option, then your ad will continue showing all day until the number of clicks on your ad has used up your specified daily budget for that particular day).
Once your ad budget options have been set, you’ll have to choose the time range of your ad under the question, “How long should we run your campaign?”, wherein you can either choose “Indefinitely” or specify a particular end date for your ad. (However, considering that you are running this ad on a limited budget, choosing an end date is generally advised as you’ll be charged the daily budget of your ad until the day your ad campaign ends; so “indefinitely” isn’t a wise option unless you have a large budget to spend.)
Minimum LinkedIn Ad Rates in India
The minimum amount that LinkedIn will generally require you to allot for your CPC and CPM bids is Rs.100 (for either). And the minimum budget generally allotted by LinkedIn for your daily budget is Rs.500. Again, LinkedIn will also give you a “Suggested bid range” for both CPM and CPC options. And, it is advisable for your ad’s success on LinkedIn that you pick within this suggested range, or towards the higher scale of this suggested range.
The reason for considering this “bidding range” is that other advertisers will also have ad campaigns on LinkedIn that will have similar targets to yours, and running simultaneously at different parts of the day with yours. And, the ads with the higher bids “wins the bidding competition” and gets shown first, thereby getting more clicks as well. In fact, if your ad is not performing well enough and not getting enough impressions and/or clicks, even picking a higher amount than the system-specified bidding range is advised.
Overall, the LinkedIn ad rates in India have been steady, more or less. And while LinkedIn is on the more expensive side when compared to other social media advertising platforms such as Facebook and Twitter, it is also the most affordable and fastest-growing B2B advertising platform available today.