Last week I talked about a few things you may not know about LinkedIn. The column received a terrific response, so I thought I'd do something similar this week, but from a different perspective.
Instead of the "I didn't know that!" approach, this week I'll explore a few LinkedIn myths that I hear on a regular basis - and debunk them by providing the real facts, straight from LinkedIn.
Myth #1: LinkedIn is just for recruiters and job seekers
I can't tell you how many times I hear this one. LinkedIn, while it is a great place for recruiters and job seekers, is also a where Fortune 500 companies live. Executives from every single 2011 Fortune 500 company are LinkedIn members. Not only that, but 85 of the Fortune 100 companies uses LinkedIn for recruiting.
Takeaway: Big companies, not just small businesses, use LinkedIn. Plus, these companies are actively looking for candidates on LinkedIn.
Myth #2: LinkedIn is primarily for professionals in the United States.
We live in an international business world, and LinkedIn is no exception. More than 60 percent of LinkedIn's 175 million members are located outside of the United States. Members are in more than 200 countries and territories.
There are 44 million plus members in Europe, 25 million in Asia and the Pacific, and 16 million in India.
LinkedIn is currently available in eighteen languages, including French, German, Spanish and Japanese. It's also available in Polish, Russian and Swedish.
Takeaway: Don't discount LinkedIn as a business network for just the U.S. If you're marketing to an international customer base, it can be a great resource.
Myth #3: College Graduates live on Facebook, not LinkedIn.
While I'm sure there are more college graduates on Facebook, the fact of the matter is there are a significant number on LinkedIn, as well.
According to LinkedIn, more than 20 million students and recent college graduates are on LinkedIn. In fact, it's LinkedIn's fastest-growing demographic.
Takeaway: 20 million is a significant talent pool. Take advantage of LinkedIn to find your next superstar. Plus, if you're a college grad take note that Fortune 500 lives here too (see #1 above).
Myth #4 - Not a myth but a series of random facts
While researching this article (and the one from last week), I came across a few more interesting random facts, so I thought I'd include them here:
- Started in the living room of founder Reid Hoffman in 2002, the company was officially launched in May, 2003. By the end of the first month LinkedIn had 4,500 members. Today that number is more than 175 million.
- Up until 2005, the number of employees at LinkedIn was around 500. As of June, 2012 there are now more than 2800.
- While headquartered in Mountain View, California, LinkedIn has offices in five major cities in the U.S. and 19 offices throughout the world - including Hong Kong, London, Madrid, Paris, Sydney and Tokyo.
- LinkedIn derives its revenue from three sources: with Hiring Solutions (think job postings) accounting for $121 million. Hiring Solutions accounts for 53% of LinkedIn's total $282 million in revenue. Marketing Solutions and Premium Subscriptions make up the other 47%.
Final Thoughts
To me, LinkedIn is more than just a social network, it's a place where you can do business, connect with like-minded people and meet folks you might never meet in person. From Singapore to Russia, LinkedIn makes it easy to market your services and products while contributing to a vibrant international community.
At the risk of being redundant, if you're only posting a profile or Company Page, then you're just scratching the surface.
Want to connect on LinkedIn? Send me an invite and I'll gladly accept your invitation!