Proving the ROI of your social efforts is becoming more and more important as digital marketing is further integrated into wider business process, which is why all the social platforms are working to provide improved data tools and options to help streamline and refine the process. Along this line, LinkedIn's introducing a range of new data tools which will provide more transparency on performance, and more data for improved targeting on the platform.
LinkedIn's launching three new tools to help, which are:
1. Expanded demographic reporting
The first addition is an expansion of the demographic data available within LinkedIn's campaign manager platform - in the new dashboard, you'll be able to see who, exactly, is responding to your ads, and compare performance across demographic subsets.
You can also hone in your results based on job title, seniority, function, industry, company size, location and country - with a new 'filter by company name' function also coming soon.
The tools will enable more advanced segmentation, and experimentation, to help ensure you're focusing on the right markets and getting the results you need, from the people you want to reach.
2. Campaign Insights and Recommendations
LinkedIn's also adding in new hover cards which will provide quick insights into campaign performance, including reports on how you're tracking in relation to daily budgets and comparative data based on how other advertisers in your segment are bidding.
There are also a new 'Campaign Recommendations' pointers which will provide auto-generated recommendations on how you can boost performance.
Facebook added a similar tool called 'Delivery Insights' last year, which provides automated tips on how to optimize your campaigns.
3. New Metrics
In addition to these new tools, LinkedIn's also adding new data around the reach and resonance of your ad efforts, including insights on incremental reach gained from members sharing your Sponsored Content, additional detail on social actions and expanded file export and data options.
The new tools will help those utilizing LinkedIn ads to get more out of their efforts, and ensure they're maximizing ROI. Sponsored Content remains the key driver of LinkedIn's ad revenue, which makes it the logical key focus here, and with 500 million professionals signed up to the platform, it's audience remains unique, giving it a significant advantage for specific markets. Facebook is the clear leader in social ad options, but LinkedIn offers access to more niche, focused audiences, who use the platform for much different purposes, making it a significant consideration for many brands.
These new data options will make it much easier for LinkedIn advertisers to make better use of the platform, and are another step towards LinkedIn making more effective use of their expansive dataset.