5 Mistakes to Avoid When Opening a Business

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  Opening a business can be an frightening journey filled with opportunities and challenges. However, numerous pitfalls can hinder your progress. Here are five critical mistakes to avoid when embarking on your entrepreneurial endeavor: Neglecting Market Research: One of the most common mistakes new entrepreneurs make is pitching into a business idea without thoroughly understanding the market. Failing to conduct comprehensive market research can lead to a disparity between your product or service and customer needs. Analyze the demand, competition, target audience, and current trends. Understand your customers' pain points, preferences, and purchasing behavior to tailor your offering accordingly. Ignoring a Solid Business Plan: A well-crafted business plan is a roadmap for success. Skipping or hastily drafting this crucial document can impede your business's growth. A solid plan outlines your objectives, target market, financial projections, marketing strategies, and op...

LinkedIn advertising and account-based marketing: how do they complement each other?

Advertising on LinkedIn is an option full of possibilities to make yourself known in this professional network and meet different online marketing objectives.

Yes, you read that correctly, LinkedIn, in addition to being a professional social network with more than 650 million users, allows you to manage paid advertising campaigns with LinkedIn Ads . Among some of its advantages, it stands out for its ability to target a very specific audience, which makes it the ideal tool to develop the marketing strategy of B2B companies (Business to Business).

Still don't know how LinkedIn Ads and account-based marketing complement each other ? We give you a little hint: depending on the stage of the funnel or how close a user is to the purchase decision, we will impact them with one strategy or another. That is, the main idea is to take advantage of the synergies that can arise when combining the two strategies.

What is advertising on Linkedin?

LinkedIn Ads is the LinkedIn advertising tool that allows paid ads to be displayed based on the professional attributes of users, so that advertisers can position the visibility of the business and help generate leads.

It is an ideal tool to work on the brand image, encourage user interaction, get more web traffic and, in general, meet commercial and marketing objectives within the professional market .

As LinkedIn is a social networking network and a network of professional contacts, its advertising window is perfect for finding new business opportunities and finding the professional profiles that we are looking for exactly.

Therefore, we can say that advertising on LinkedIn is highly effective due to its great targeting capacity , since it allows users to filter ads based on keywords, the university where they studied, the company they work for, level of experience, location, etc.

Advantages and disadvantages of LinkedIn Ads

We summarize the most notable pros and cons of the LinkedIn advertising tool so that you are aware of all the aspects it includes. This way you can decide whether or not to use it for the benefit of your company.

Advantage

These are the main reasons to use LinkedIn advertising to reach your potential customers:

             It has many possibilities for segmentation . Unlike other social networks, LinkedIn users fill in the personal data of their profile carefully to make it known and interested in other professional profiles. This is something that advertisers know very well, as this way they can segment their ads by:

o             Sex

o             Age

o             Geographic location (country, region or province)

o             Professional sector

o             Position held

o             Studies

o             Years of experience or seniority in a sector

o             Aptitudes

o             Achievements

o             Groups created within LinkedIn

o             Etc.

             LinkedIn Ads offers good results measurement tools: we can accurately measure the result of our advertising campaigns: CPC (cost per click), CTR (click-through rate vs. impressions), CPA (cost per acquisition), conversion rate, ROI (return on investment), form submission or form opening rate, etc. This way you will be ables to make better decisions in the future and improve the campaigns depending on how they are developed.

             Allows you to apply retargeting : as on Facebook or Twitter, on LinkedIn, thanks to the section called "Matched Audiences" we can show our ads to users who have interacted with the company before, for example, who have visited a specific page (like that of Social Media Marketing services). To do this, you will have to add the Insight Tag and start creating audience lists.

             Your Ads Can Be Wide-Reaching : Thanks to the 650 million users who are registered on LinkedIn, we can reach a wide audience; the important thing is that we know how to reach the specific audience we need.

             We can develop different campaigns based on different objectives, as well as different types of ads : like the Ads of other social networks, on LinkedIn we can direct the ads to the objectives of knowledge (to practice branding and online recognition), perception ( In this objective we can choose between directing visits to the website, promoting interaction or video views) and conversion objectives (understanding conversions both on the web and within LinkedIn itself). Also, we will see that there are different ads that we can use in LinkedIn Ads.

             Create a list of Sales Navigator prospects . The main advantage is the ability to develop an ABM strategy on LinkedIn, which is what we will focus on in the next article. With this list we will have control of the most relevant prospects and a breakdown of objective accounts with which to identify the main decision makers.

Disadvantages of advertising on LinkedIn

After all the advantages of LinkedIn Ads that we have mentioned, these are the cons that you should take into account:

             Advertising on LinkedIn has a higher cost than other social networks, especially if we are used to advertising on Facebook and Instagram.

             There are not many users who click on the ads yet, since the level of interest that ads usually require on LinkedIn is somewhat higher: there is almost always talk of selling products and / or services, and they can perceive the advertising content as spam. However, if a suitable content strategy is applied to each stage of the marketing funnel, we can get much more out of it than in other social networks or advertising tools. In addition, you can enable the LinkedIn Audience Network and advertise outside of this social network.

Types of LinkedIn Ads

As we have mentioned before, LinkedIn has different types of ads to promote our company. Do you know in which cases it is more convenient to use each of them and what are their main characteristics? We explain everything to you!

Sponsored content ads

The most common type of ad on LinkedIn is the one that appears in the news feed and is the one that generates the most engagement. It will help you capture the attention of your target audience and generate a higher CTR for your website, blog or landing pages.

This type of format supports:

             Article type, linked or single image ads : we can promote what we have previously published on the company page or create a new publication directly to advertise. This format would be the classic combination of text + banner + link that directs to the destination page of interest (for example, a landing page designed on purpose).

 

             Ads with carousel images: this format allows you to direct to one or more landing pages for each image, to show different cards in the same ad with a call to action.

 

             Video Ads: These ads also allow you to enter URLs and a call to action.

Ads by sponsored message

They are known as "sponsored inMail", now referred to by LinkedIn as "Sponsored Messaging". It is about sending messages to the inbox of the LinkedIn profile of the target audience, they have a high level of personalization and, in addition, they have a direct impact. When the goal is to generate professional conversations, visits to the web or a certain conversion, these ads are ideal. These are divided, in turn, into two groups:

             Message ads: with a single CTA button, they allow you to direct potential customers to a lead generation form.

             Conversation ads : allows you to integrate different types of offers or content in a single message, as well as direct to different pages or forms.

The disadvantages of these ads is that they have a marked commercial nature, so it is only advisable to use them when we have a list of users who are more advanced in the conversion funnel. For example, if we have a group of users to whom we have already directed branding ads (they already know the company) and, in turn, have interacted with the company in some way (by downloading content, attending a webinar , etc.). In this way, we ensure that the campaign is effective.

Ads with lead generation forms

Lead Gen Forms are one of the incentives for marketers to advertise on LinkedIn, as it is the type of advertising especially intended for lead generation. With these ads, the user does not have to leave LinkedIn to fill out a form. It allow you to use up to 3 custom fields, but the truth is that the information fields that can be requested are even more numerous: name, surname, email, URL of the LinkedIn profile, telephone, city, postal code, position, company ...

Text Ads and Dynamic Ads

Dynamic ads appear in the right column on LinkedIn and can be text ads, Spotlight ads (ads to introduce products, services, or events while directing you to a landing page), or ads to gain followers.

LinkedIn Ads dynamic ads are ads tailored to each user based on their profile attributes (company name, position, professional sector…). Being personalized ads, this ad format is very effective to meet different objectives: visits to the web, promote job offers, attract followers to the company page, etc.

 primewebreviews       knowaboutanything       newcomputerworld         techstacy

  theuniversalbeauty

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