In today’s episode, we’re checking out the unprecedented surge in LinkedIn advertising. The buzz around this platform has reached new heights, with ad prices soaring by up to 30%. What’s causing this seismic shift? Well, it appears that the X boycott by major advertisers is playing a significant role as budgets shift to other platforms.
Elon Musk previously said that X was a safe space for all brands. But, some advertisers are worried about their ads appearing next to unsavory content on the platform. So with brands shifting away from platforms like X and heading over to LinkedIn, ad prices there have skyrocketed. But here’s the kicker—they’re getting returns of up to 20% on premium LinkedIn campaigns.
Return on Ad Spend (ROAS) – Are You Getting Your Money’s Worth?
LinkedIn can be a solid alternative for marketers considering moving their ad spends away from other platforms this year. But remember, while the returns are good, it does come with a higher cost. So, you need to check those budgets before you make the leap and make sure you have an understanding of ROAS or return on ad spend – are you making money off this significant investment?
LinkedIn ads are calculated through an auction system – the more demand, the higher the cost.
The higher cost is not just a random spike—LinkedIn ad prices are calculated through an auction system, so the more demand there is, the higher the cost. Not only that, social advertising in general will be more expensive this year since it’s an election year with political and issue advertisers also vying for a spot in people’s feeds.
How can small businesses compete in this complex and competitive environment?
With all ad campaigns, make sure you are capturing prospect info so you can build strong connections directly. You want to be in control and not solely reliant on platform algorithms. Nurturing your own list of prospects and customers through direct email marketing is invaluable. It’s like holding a golden ticket in this environment.
Building relationships through emails means you’re not entirely reliant on platform algorithms and their ever-changing rules. Remember, “The money is in the list.” Don’t overlook the power of those email relationships and using your outreach to grow your list. It puts you in a strong position to connect with and nurture your audience.
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LinkedIn ad prices surge as advertisers’ X boycott continues
