By Chris Linehan
WWhen your bank expanded your marketing efforts into the digital advertising space, you likely started your campaigns on Google, expanded to Facebook and perhaps moved on to testing campaigns on Bing. These are all great platforms to start from. But where should you go when you want to continue expanding your digital advertising to a new audience?
LinkedIn is often the overlooked social media platform when it comes to advertising. But if used properly, it can be a huge source of customer for your bank. According to LinkedIn statistics, four out of five LinkedIn members are driving business decisions, and LinkedIn is the #1 ranked platform for generating business listings by marketers.
The reason why LinkedIn is so successful among B2B marketers is because of the targeting capabilities it can offer. Users can be targeted by: Job title; functional task; seniority. The Company’s name; company size; industry; and skill.
This is valuable for anyone wishing to target specific decision makers within organizations or target small businesses in their area.
In this article we will dive into LinkedIn ads and how your bank can generate more leads for business lending by using the platform effectively.
If your bank offers business lending and business banking services, here are some tips to help you attract more qualified leads with LinkedIn ads.
Like most advertising platforms, LinkedIn offers several different types of ads to choose from, ranging from display and text ads to conversation ads.
Sponsored Content Ads. Sponsored content ads are the most common type of ads you’ll see on LinkedIn. A brand can place an ad directly in a user’s feed as a sponsored post (the most active area for all users).
Among the sponsored content posts, brands can choose single image ads, video ads, dynamic ads, carousel ads, and event ads.
LinkedIn recommends using Sponsored Content if your brand is looking to achieve any of the following: increase awareness of any new events or initiatives, generate leads, increase qualified traffic to posts or pages, boost followers, and increase engagement with potential customers.
You’ve likely seen sponsored content in your own feed, like this example from LinkedIn:
As you can see, the post is naturally embedded in the user’s feed and appears to be original content. If you look closely you can see that it is a sponsored post.
best practices. For LinkedIn, there are ways to make your ads more visible to users and little things you can do to increase the chances of a successful campaign, including:
- Type ad titles that are less than 150 characters long. Short titles lead to more engagement
- Try to keep your post copy under 70 characters. Anything over 70 on the desktop can be shortened.
- It is recommended to set the image size to 1200 x 627 pixels. Content with greater visuals tends to have a higher CTR of up to 38 percent (click-through rates).
When writing a call to action, make sure you are as clear as possible. You want your audience to know exactly what you’re promoting.
Promotional messages. Message ads allow brands to send messages directly to a user’s inbox to help increase leads and traffic and provide users with a more personalized experience. Similar to Sponsored Content, there are two options when deciding on an sponsored campaign.
Message ads. Similar to an email campaign, you can communicate directly with your potential customers without any character limit. Messages are sent directly to the user’s inbox so that they are more likely to be highlighted. LinkedIn reports that, on average, one in two potential customers opens an ad with a message.
Example from LinkedIn:
Conversational Ads. Similar to message advertisements, conversation advertisements are sent directly to the user’s inbox. Chat ads allow you to set up multiple calls to action so that users can access the information they are interested in by selecting it in chat.
Conversational ads allow you to create a more personalized experience for your prospects and allow you to automate multiple responses and options for your potential customers to engage with.
For both message and chat ads, LinkedIn allows you to create lead generation forms that live directly in the message/chat and are automatically populated with the user’s LinkedIn profile information.
Example from LinkedIn:
Message advertising best practices include:
- Make sure the profile sending the message is complete and looks legitimate.
- Use a friendly face!
- Tuesdays and Wednesdays are the best days to launch new ads.
- Begin the letter with an introduction and a clear reason for reaching out.
- Keep the transcript short and concise (less than 500 words).
LinkedIn is slowly becoming more and more popular in the world of digital advertising and is not just limited to business banking products. The platform can offer your bank successful brand awareness campaigns, campaigns to get more LinkedIn followers and much more.
Chris Linehan is the Director of Affiliate Marketing at the Oak Digital Agency.