The Power of Purpose
Most people know LinkedIn as the world’s largest professional network – touting more than 830 million members in more than 200 countries and territories worldwide. But the lesser-known facts show how quickly it’s become a household name:
-LinkedIn began in co-founder Reid Hoffman’s living room in 2002 and was officially launched on May 5, 2003
-Microsoft completed its acquisition of LinkedIn in December 2016
-In 2021, just 5 years after Microsoft acquired LinkedIn for more than $26 billion, the business social network surpassed $10 billion in annual revenue for the first time.
Fun facts, right? One more …
According to eMarketer’s Digital Trust Benchmark Report 2021, LinkedIn has ranked first for the fifth year for the most valuable social currency – Trust. And, for professionals looking to network with industry peers or past colleagues, the platform really stands alone.
So, it’s big and potentially powerful, but why are we there? We post, we read, we share… but to what end? Are we all looking for our next job or business opportunity? Are we searching for our next big client or trying to land that next important hire? People, companies, brands…we’re all on LinkedIn because we believe we can leverage its size and influence in some way. But, to take advantage of all the tools and connectivity LinkedIn offers, we must use it with purpose. And understanding that purpose can lead to a much more intentional and productive journey.
Advancing a Career
Many, if not most, of the professionals on LinkedIn are connecting and engaging to advance their careers. LinkedIn is often seen as a means to provide prospective employers with an initial overview of a person’s experience, achievements, abilities and talents. If this is your principal reason for connecting with others, LinkedIn has a great post here that can help you sharpen your profile.
Employer Branding or Recruitment
LinkedIn has become a remarkable platform for professional recruiters and companies in search of that next critical hire. In fact, there are 77 job applications submitted every second on LinkedIn and competition for the best talent is only increasing. So, how do employers stand apart? A recent LinkedIn poll of Hiring Managers shed a bit of light on the subject, underscoring the importance of an employer’s brand. When asked, three quarters of respondents affirmed it’s easier to attract a candidate who is familiar with the organization beforehand. Yes… having a known and respected brand matters. Tips for attracting the best talent in today’s hiring environment include showing that your organization has a healthy work culture, appreciates and rewards performance, and helps employees advance in their careers.
Generate Leads
According to a 2021 report from HubSpot, 61% of marketers believe generating traffic and leads is their biggest challenge. So, it’s worth noting that of all B2B leads coming from social media, LinkedIn is responsible for 80%. All other platforms combined make up less than 20%, including Facebook and Twitter. So, if your organization is using LinkedIn to harvest leads, you’re in the right place. If you’re interested in learning more, LinkedIn has a robust overview of lead generation strategies here that should offer some perspective and helpful ideas.
Build Your Network
Many people, both mature and newer professionals, aren’t sure how a larger LinkedIn network will benefit them in the future, so they simply want to grow their network in a meaningful way. When it comes to making connections, quality beats quantity on LinkedIn. There are several ways to grow your network, from “following” strategies to posting recommendations. It’s a big topic. If you really are interested in taking this on, we recommend taking the 1-hour Coursera class, Strategically Build and Engage Your Network on LinkedIn. You can find it here. The class should give you some direction on how to appropriately grow your network. It’s worth taking the time, especially if you are just getting started on LinkedIn.
As you can see, there are a number of reasons to work through what you want to accomplish on LinkedIn. With the size and opportunities LinkedIn offers, there’s a lot to consider, and we haven’t’ even addressed specific LinkedIn offerings like LinkedIn advertising, groups listings and service pages (this last one is available in your profile set-up options, and also connects to LinkedIn’s Services Marketplace for finding contract workers) … which are all tools that can help you optimize your presence once you determine your purpose.
We hope this post helps, or at least gets you thinking. If you have questions, or have a few tips of your own, please let us know. We always enjoy a good conversation.