Episode 10: Should You Do Remarketing on LinkedIn?

Episode Summary

You try running ads on LinkedIn and the high costs eat away at your budget while bringing in zero leads. Giving up would mean abandoning a sea full of potential clients! If you want to stop throwing money down a bottomless pit and start converting on LinkedIn like crazy, you need to check out this episode! LinkedIn expert AJ Wilcox stops by again to drop knowledge bombs on the subject of Remarketing. Learn result-driven strategies that leverage LinkedIn's remarketing capabilities. Prepare for the new features that are in store for the professional network and why they have the potential to skyrocket your return on investment and conversion rates.

Audio Transcript

Welcome to growth hack by Papi Digital tips and tricks to master the algorithms from industry insiders. Now here's your host, Julian Espinosa.

Welcome to another episode of Growth Hack. My name is Julian Espinosa, and we're here going to be talking about LinkedIn. We have a guest who appeared on our podcast earlier this season. His name is AJ Wilcox. He's a LinkedIn ads expert. Welcome. AJ thanks so much and excited to be here. Yeah. Thank you for showing up again to another episode.

Of course you get me any time. That's great. That's great. We left off last episode talking about LinkedIn. We said. Who should advertise on LinkedIn. And one thing when one thought we left with was can you do remarketing on LinkedIn and. I figured this is a great topic. LinkedIn is getting more advanced with its feature set and you can start to do some really, really creative things on LinkedIn.

So what I'd like to do is just crack open. Can you do remarketing on LinkedIn and starting by asking what is remarketing? Yeah. Well, I think retargeting in general, as this whole philosophy of once someone has interacted with you before you're now going to give them another shot Google, it wasn't necessarily Google who pioneered the technology, but they were certainly one of the heavier first users of it where it was all around search.

So if someone came in searching for red shoes, they got to your checkout page and then they decide to leave for whatever reason. Advertisers wanted another shot at that person. Give them more opportunities to come back at a discounted rate. So right. Worked great for search. But I would contend that it works even better on social media, because search is all about, like, if you clicked on my page for red shoes, I can imagine that you probably are looking for red shoes, but I don't know anything else about you at that point.

But with social media, if you come in from one of my social ads where I was targeting CEOs of companies with at least. 2000 employees. I know every single person who came through that audience is a CEO. And, you know, I might, I don't even need to show you an ad for the red shoes next I can say, well, what else do CEOs like, maybe I can show you jackets.

Maybe I can show you suits. Maybe I can show you BMW cars. I mean, all kinds of different options. So that's kind of the, the ethos of retargeting. Got it. Now with that being said, Let's bring it down to LinkedIn. LinkedIn. Isn't like every other platform out there, they have certain data that no one else has, which makes them really special.

What happens when you have something that's really special? Yeah. So I like where you're going with this question. I want to come back to it because LinkedIn's data is absolutely incredible for targeting business professionals. But if all you care about is retargeting at this point that doesn't necessarily factor in. So, okay. Retargeting as, as a technology, no matter which platform uses it, it works about the same way. You put a little snippet of code on every page of your website. So anytime someone hits that page, it executes that JavaScript and it puts a cookie inside their browser. Now, if that sounds technical, like just brush it off, don't worry about it.

What that means is anytime that that user now shows up on another page of the internet, where an ad server Is has access to it. They can say, Oh, I recognize this visitor. He's been here before. Let me now show him ads from this advertiser again, or from a different advertiser. So this is what you can do with retargeting technologies.

LinkedIn is no different. They have a tag that it's called the insight tag that when you set up an account, it'll have you put on every page of your website and maybe we can come back to this. There are two other really cool uses of this tag, but. The main one that we care about here is retargeting.

Well, what's really interesting here is thinking about LinkedIn in general, as an ad platform, it has certain characteristics that may play to our favor or may play against it. So here's what I mean by that. The technology of LinkedIn is retargeting. Your cookie will expire after 90 days. So that means if you bring someone onto your website to put them into this retargeting audience, after one quarter, they evaporate, you don't have access to advertise to them anymore.

So a little bit of a weakness there. We also know that LinkedIn is not the network that people come and spend all day on. And my favorite part about retargeting is this ability to stay top of mind with someone while they're making a purchase decision. So if you're only showing your ad to them, you know, Two times a month when they come and log in that that's not nearly as powerful as maybe some other retargeting platforms. It's also not super inexpensive. You'll probably pay, you know, four-ish dollars a click, which is still cheaper than, than the original click from LinkedIn was. Cause we know it's a higher price platform. But I think the biggest nail in the coffin for me is the vast majority of internet users of, of of.

Yeah, I'll say users won't fit into LinkedIn's retargeting. They won't even be entered as part of that audience. Right. And that's because it relies on a cookie being placed in the browser and Apple devices don't accept cookies. So there goes all of your iPhone users, all of your iPad users, anyone using Safari period. And now there's this war against. Cookies going on Mozilla Firefox has joined the fray. And so if your user is using any of those browsers, basically anything except for internet Explorer and Chrome they're not fitting into your audience. So LinkedIn has this retargeting platform. Anyone can go on and use it, but it's really, really weak compared to that, of, of the competition.

Interesting. Interesting. Okay. With that being said, it is, it is weaker to let's talk about where it could make sense and how you potentially, yeah, so right now quite frankly, we just don't do a whole lot with it. LinkedIn is retargeting. Just because it is so weak. I know I have to get a thousand visitors on a page to get at least 300 people in an audience.

And if you're paying six to nine bucks a click for those thousand visitors, you do the math and that's not a cheap audience to put together. Though, The ways that you could end this, don't worry. I'm not painting you like a, like an end of the world perspective. Here. There is hope. But some of the cool things you can do with LinkedIn's retargeting right now is you can use it.

This is especially great for existing, larger advertisers. If you're spending a lot of money the data is such that you can do this. You can create two-step funnels. So you say I'm going to drive the traffic from LinkedIn to the landing page. And then anyone who lands on that landing page or anyone who converts whichever I choose, I can then exclude from the original audience.

So. Now you're working through an audience on LinkedIn until all of them come and visit your page. And then as soon as they visit, they expire from that audience and you, you won't be targeting them anymore. And right. We call this net new advertising. It's a great way to reach people who if you've acquired them before you don't want to pay to get a second shot at them.

Then you create a second campaign that is targeting only the people who've previously visited. And now you can show them a second offer. So maybe your first offer is, come check out our ebook or something. And then the second offer may be, Hey, you already know us. You've had a touch with us. How about you join a webinar or how about you fill out this other kind of form?

So it's breaking people down into two steps to preserve only those who are net new. So you're not double paying for people. Right. So I know your LinkedIn ad expert and that's where you live and breathe. Let, let, let me approach it holistically and see what your feeling is on it. So I'm labeled as a growth hacker. We're a growth agency. We were Ignacio. If my intention, my goal is to bring a good. B to B lead to my customer. Right. Is it possible or is it in the realm of possibility? Something like this? I go to LinkedIn and I grabbed traffic from LinkedIn of my very, very qualified traffic. It's the, they work in this industry. They have this type of title. They've been in the industry for this amount of years. And they have these particular set of skills, which you can't get that data anywhere other than LinkedIn. Totally. So I get that. I get traffic to my website. I get some conversions. I don't, I want to pick up the rest, which is called warm marketing, remarketing, retargeting, all the same stuff.

I call it warm. Now, instead of going back to LinkedIn for my second step of the funnel to follow up with them. What about another platform? That's more inexpensive. I love it. You are. You're taking the words right out of my mouth. This is the huge benefit that both Facebook and Google have is all of the technology issues I told you about with.

LinkedIn being expensive and you know, not everyone qualifying Facebook and Google have way, way better retargeting technologies. And they're a lot cheaper and you can be in front of people wherever they are. I think Google has access to like 92% of the web through the Google display network. So you can stay in front of them no matter where they land and Facebook you're in front of them all over Facebook and Instagram, where they're spending the majority of their time.

So. Much better technologies. And if you can leverage the fact that LinkedIn brought you already the very best traffic, and then you retarget with, with either or both Google and Facebook for retargeting, that's the dream team. This is what I recommend to everyone. Even being a LinkedIn like fan I'm telling everyone, you gotta be sure use LinkedIn's retargeting.

That's fine. But you've got to be supplementing with Google and Facebook. And from an agency perspective unrelated to maybe our target audience, but from an agency perspective, how do you approach that philosophically? Do you say here, go do this. Do you recommend someone? Do you try to help them with it? How do you being a LinkedIn guy? How do you say, Hey, I know the second step in the funnel. Isn't me. What do you do? Yeah, the majority of our customers already have either an agency or an in-house team that's running Google or Facebook, Google, and or Facebook. But for those who don't, I will, I'll refer them to someone else because we're trying really hard to stay in our own land.

You know, LinkedIn ads is the only thing we do. We don't want to, you know, complicate that at all. Right, right. In case someone didn't listen to our previous episode and is just listening to this, let's talk about what makes a really good LinkedIn ad. I'm toggling the toggles on the backend and making all the movements and the right audience and all that stuff.

That's all important. But what is the most critical thing when it comes to running a LinkedIn ad? Yeah, the most critical thing is giving someone something that's actually a value. If you remember from the last episode or if you didn't catch it we w we know if we ask someone who's just surfing around LinkedIn, like, Hey, open up your wallet, or click here to talk to our sales rep about this product.

You may or may not need no one has any sort of incentive to click or convert. So those ads just don't perform. They're either crazy expensive for what you get, or you just stop getting traffic because no one clicked. So what you do is you give them something, and this is usually. Gated content, where they fill out a form in exchange for it.

But you're saying here is a valuable checklist or a cheat sheet, a guide, a webinar, a free ebook. We want to invite you to a free in-person event. All of these things that if you actually give them something that is truly valuable, they're willing to give you their email address in exchange for it.

And what you're really suggesting in that is that you need to have some sort of enticing offer that gets people to give out their email. That's exactly right. And if you can nail that you get 20% conversion rates and, you know, 25 to $30 cost per conversion on LinkedIn. And if you don't nail it, then you're paying over a hundred dollars per contact.

And I'll tell you which one I would rather have exactly exactly. Now, now that the. Customer has an email. Again, this is unrelated to this episode, but philosophically, how does your agency look at that? Do you help them with their email marketing? What do you do after you got them that lead? Yeah, so we won't touch their, their email marketing channel, but there are some really cool things that we can do on LinkedIn if we bring in data from outside.

So about two years ago, it was actually when LinkedIn released their retargeting platform, they gave us access to something called match audiences. And the same kind of functionality is available on Facebook and on custom audiences. Yes, exactly. LinkedIn now has it too, so you can upload email addresses to, for targeting. So if someone says, Hey, here is a list of all of our top customers. We can upload that list of email addresses in, we can either show them ads to try to stay top of mind so that when it comes time to resubscribe or the next time that they want to do business, do more business we're we're coming to top of mind.

We could exclude those audiences from, or we can exclude those email addresses from our other audiences so that we're not spending money on people who are already giving us money. We can also do a look alike audience. So Facebook anyway, really? Yep. This is okay. Pretty much brand new. Facebook's had this for years and years. LinkedIn's not super powerful in this regard, but you give them a list of email addresses and you say, create a lookalike and then you can run that separately too, and try to reach more people like that. So now I know lookalike means, can you define that a little further for our audience? And this is actually really important. Facebook looks at. Everything about who these users are. So what sort of interests do they tend to have and what locations and, you know, they're looking all of these things about you as a consumer to try to decide who you look close to. When you run a lookalike there, Facebook goes, okay, well, you told us that you want the 1% of the population that looks the most like this person.

So I'm going to go out and return that list. LinkedIn, isn't quite so powerful. You can't do a little slider from a one to a 10% lookalike. They're looking at that audience and saying, okay, they tend to have this job title. They tend to. Be in these two industries, they tend to all be members of these groups. They tend to have these skills and they're trying to put together a list of people who generally look like the email address that you uploaded and give you kind of a fuzzy list. Cool. Now coming down the pipeline, I've heard in our conversation too, that there's some really cool features. It'd be interesting to know, think of to where LinkedIn is today is where Facebook was in 2012 or 2013 on their ad platform with this new technology that they're about to come out.

What is it and what is that going to do for advertisers? Oh, great question. So all of the qualms that I have about LinkedIn's retargeting, they all go away with, with a simple implementation of something called engagement, retargeting what this is You know, like I mentioned before, you've got to have a cookie in your browser in order to to be recognized by LinkedIn's retargeting.

And this is very simple. You just say, Hey, I'm going to stick a cookie on you. And when you come back, if you still have it, then I know who you are and I can show you the next thing in the sequence. But Facebook and Google don't rely on this, what they do rather than. Just relying on you having the cookie, they know who you are.

They know when you're on their platform, what you've clicked on from what advertiser they know when you clicked on it. So all they're doing is storing all of that, visit data and interest, data, and interaction data on their side. And then that way, anytime that. The Facebook platform sees you log in. They can say, Oh, I recognized you because you're logged in. I know at one point you clicked on this advertisers ad. So now I'm going to show you their retargeting ad and it requires a lot of data storage on the provider side. So I think that's why LinkedIn is dragged their feet, but I know that it is currently in alpha test at LinkedIn.

So I know this is coming and I can't wait. My biggest reason for wanting this is not just to make my retargeting audiences more powerful, but because they released video ads and video ads on LinkedIn are kind of expensive. You're going to pay like a minimum of 6 cents per person who watches at least two seconds. So if I'm doing video ads right now and someone doesn't. Click the link to go to my landing page. Then I have, I'm paying a lot of money into a black hole, and I have no idea what's on the other side. Right? As soon as engagement retargeting comes out, I'll be able to start recommending people, run video ads again, because we can say after you've watched at least 50% of this video.

I know that you're at least a little bit engaged. Now. I want to show you the next video in the sequence right now. We can't do that. But as soon as we can, I, Oh, I'm going to be so excited. This is probably coming out in the next quarter or two. I'm getting really excited about it when I hear about it. So thank you for that. I it's, it's really, really cool to see that LinkedIn is starting to step that up because it's going to make it so much better for marketers and companies to be able to advertise. If someone wanted to get more information on. LinkedIn more information on what you do, where would they find that? Oh, a super easy.

If you go to our website, B2 linked.com. That's the letter B the number two, and then the word link.com. You fill out the form on any of those pages. You won't be put on a newsletter and you won't get pawned off to a sales rep. It just goes directly to my inbox and I'm not a sales guy. So feel free to reach out. Ask me any question. Awesome. Awesome. Well, AJ, thank you so much for talking to us and explaining, can you do remarketing on LinkedIn? It's been a great episode. Thank you so much. Hey, you're welcome Julian, and have me back anytime. All right. Talk soon. All right. Bye. All right, bye.