LinkedIn Ads are something you don’t hear many people talking about…
My guess is it’s because it’s pretty difficult to get LinkedIn Ads to be profitable.
Difficult, but not impossible.
We’ve seen campaigns getting ROI in the 300%+ area, so it’s definitely not impossible – but you need to use the right strategy.
Lets dive in…
Why LinkedIn Ads Are Hard to Make Profitable
You’ve probably heard it before: “LinkedIn Ads are EXPENSIVE”.
While this is true, compared to other ads platforms like Facebook, you’re able to target B2B accounts so specifically that if you’re the right type of company with the right type of offer – LinkedIn Ads is an amazing way to get qualified traffic to your offer!
With cost per clicks (CPC) at a minimum of $7-$15, there are a few things you should be doing if you’re running LinkedIn Ads.
Who Should Use LinkedIn Ads?
LinkedIn Ads are best for companies selling high ticket B2B products or services.
By high ticket I mean deal sizes above $5,000, either upfront or first year’s value.
If you’re selling something cheaper, it’s still possible to get ROI from LinkedIn Ads as a cold traffic source, but it will be more difficult.
LinkedIn Ads works best for
- Enterprise SaaS
And really anyone targeting high level B2B business people selling something with an average order value (AOV) or first year’s value of $5,000 or more.
The Secret Method to Profitable LinkedIn Ads
OK, so you fit the criteria and you have a high ticket product or service to sell on LinkedIn – great!
Getting LinkedIn Ads profitable is possible, but it takes a specific overall strategy.
1. Use a Lead Magnet
You’ve built your ideal customer profile (ICP), so you already know the burning problem your customers have that you solve for, right?
Your challenge is to create a free or very low cost lead magnet that helps answer a big question or give them a roadmap for how to solve their burning problem.
This can be in the form of a:
- Drip Email Course
- Online Course
Or practically any other format, as long as it provides real value to your target customer.
You can do one of two things with this lead magnet:
- Offer it in exchange for a name and email address
- Offer it 100% for free with no opt-in necessary
#1 gives you a way to contact your new lead.
#2 gives them what they’re looking for with a frictionless user experience.
Experiment, but as we go further into the 2020’s – #2 is what people want and what will make the most impact on your business.
So the rule is: create great content & distribute it to the right people with no friction.
You may think we’ve lost them at this point… “Well, they’ll just download the PDF or watch the video and they’re gone!”.
2. Cold Traffic Doesn’t Convert Well
The reality is that cold traffic sent straight to a high ticket offer on LinkedIn rarely works well.
It immediately turns people away.
And you’re charged so much for a click, you really need to make it count.
However, getting someone to download or view a lead magnet is relatively easy.
They want the info, you’re offering it for free (or low cost), why not go for it?
This is the beauty of cold traffic with a lead magnet: you can see who is interested in the problem you’re offering a solution for.
But… You’re not going to take their contact info and the fact that they downloaded your PDF and start spamming them…
That’s what everyone else does.
You’re going to think different.
3. The Money is in Retargeting
Instead of thinking that a lead magnet downloader is a “qualified lead” (you know better), you’re going to take that as the first in a series of micro-commitments.
This is why the money is really in the Retargeting ads you run.
What are retargeting ads? Well, once the lead clicks through to your website from the cold traffic ad, and completes the conversion action (i.e. downloading your eBook) – you’re now able to segment and serve that same lead ads.
Essentially, you’re gauging interest, then following them around with the “next step” advertisement.
Maybe they downloaded the eBook lead magnet and really loved it, but are procrastinating on solving that big nasty problem… Your ad pops up again urging them they need to solve that problem asap or they’ll keep losing money!
Now, you’re creating demand.
Your next ad could lead to a landing page with a video of how to solve the problem in -depth, with a call to action at the end stating they can save a ton of time by just hiring your company to do it for them.
Plus, retargeting ads are a fraction of the cost per click (CPC) of cold traffic ads. So you’re segmenting only the most interested traffic and getting them to take the next step!
This is how retargeting saves the return on investment (ROI) of your cold traffic ads. You don’t need cold traffic to convert when you have the power of retargeting behind you.
Boosting Profitable LinkedIn Ads
Just because you’re generating cold traffic with LinkedIn, doesn’t mean you can’t retarget and continue the buyer’s journey across other channels.
Advertising platforms like AdRoll allow you take the cold traffic you generated with LinkedIn and retarget them across 98% of the internet for very affordable cost per 1000 impressions (CPM).
Also, using something like Happier Leads, you can identify the accounts that are actively checking your website, get their contact data, and reach out while they’re still hot!
Using this type of account based selling strategy is a great way to get the most from your LinkedIn ad campaigns.
LinkedIn ads can seem “expensive”, but the reality is you just need to use the right strategy.
Using cold traffic + retargeting is the best way to squeeze ROI from your LinkedIn ad campaigns to sustainably book demos, sales meetings, and close high ticket deals virtually on autopilot.
Thoughts? Leave a comment below with your favorite LinkedIn Ads strategies (or any questions you have!).