LinkedInformed Podcast. The LinkedIn Show

show notes

News

  • DIALaBRAIN find an innovative way to use the media section of a profile (see below)
LinkedIn schedule meeting link in profile
  • LinkedIn Mobile (iOS & Android) apps now allow you to customize your invitation message. Its not very intuitive but at least it can be done! Here is how you do it (iOS)
1, Do not click on the link in the shortlist

1, Do not click on the link in the shortlist

2, Ignore 'connect' and click on the share link in the top right corner

2, Ignore 'connect' and click on the share link in the top right corner

Write your message.

Write your message.

Credit to Viveka Von Rosen for spotting this. Unfortunately this technique is not possible on the iPad app

Advertising Update

  • Following my request last week I have found two examples of successful advertising campaigns. One was a small scale 'sponsored updates' campaign that cost £200 and achieved 25 downloads of a pdf report (I'm not sure I would be happy with that myself). The other involved a considerably greater spend of $25,000 but achieved a massive 1,761% ROI. This was a new membership campaign by the International Coach Federation in the US. The full report can be seen here

The State of LinkedIn.

Do LinkedIn have their monetization strategy right? 

In this section I talk about one article which puts a case for why LinkedIn are an attractive investment versus another piece that claims quite the opposite! 

The second article can be found here but I must warn you that to read the full piece you will be asked to sign up to a variety of things you probably don't want so here is the most interesting bit;

Fundamental weaknesses

Before I get to LinkedIn's strategic failures, let me first point out its operating woes:

LinkedIn squeezed out only 1.6% in operating profits during its last twelve months vs. 5.2% during the twelve months ended at the end of 2Q 2013. To contrast its continued decline in operating margins, Facebook has achieved operating profits of 43% during its last twelve months.

LinkedIn's Premium Subscriptions conversion rate is consistently under .4%. That means that of the 305 million users (average during the 2Q 2014), less than half of a percent convert into purchasing LinkedIn's premium products. Premium subscriptions start out at $23.99 and approach rates of as high as $99.99. Assuming that the average premium subscriber pays $40/month, the conversion rate is an abysmal .29%. If the average user pays $35, the conversion rate would be closer to .33%.

In any case, the conversion rate declines if your assumption uses a higher dollar-per-month figure, which means that ~99.7% of LinkedIn's users see no value in Premium Subscriptions (not to be confused with Job Seeker subscriptions, which fall under Talent Solutions).

LinkedIn continues to spend heavily on sales & marketing to promote its products. In addition to salaries, benefits, travel, and employee incentives, sales & marketing expenses also include the expensive "customer acquisition marketing" spend. Sales & marketing expenses are expected to decline as a percentage of revenues at a company succeeding to sell its concept. Not so at LinkedIn. It spent 34% of revenues on sales & marketing in 1H 2012, 34% in 1H 2013, and 35% in 1H 2014.

........

.....User engagement is critical for LinkedIn at this point and will translate into a significant increase in share value. Without it, LinkedIn's operating woes will continue to exacerbate. Attracting users to a website where the only realistic option is to log in, update a profile, and check out a wall of static activities is a strategic mistake. Incentivize users to participate on LinkedIn and create an innovative environment for them to target corporations!

As is, the downside risk from slowing expansion through the sales and marketing strategy is significant and could continue to affect LinkedIn's bottom line. The firm's share price at $231 is not well supported as LinkedIn's strategic weakness in engaging users will eventually translate into heavier losses.

I think this is a fascinating argument and whilst I don't think LinkedIn should incentivise connecting, I do believe that a 100% free model where engagement is incentivised and highly read articles attract payments are excellent ideas that could solve the issue of poor advertising sales.

What do you think?

Thanks for listening. As always you can get in touch by emailing me at mark@linkedinformed or even better you can leave a voicemail that can be played on the next show. Just click on the link on the right of this page.

Direct download: LinkedInformed_032.m4a
Category: -- posted at: 12:39pm UTC

Episode 31. Do LinkedIn Ad's Work?

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show notes

News

  • The way we receive invitation notifications has changed (see video below) I also mentioned 2 pieces of software to help with speedy messaging which were TextExpander for Mac or Phrase Express for PC.
  • Feature retirement - InMaps is the latest to be culled. Unfortunately it is now too late to get your map as the site officially closed on 1st September. Here is a Techcrunch article with more detail.
  • LinkedIn's new mobile app - Sales Navigator
  • New feature - You can now export all of your historical LinkedIn data. Get your step by step guide on how its done by completing the form below; 
Name *
  • LinkedIn are considering easing their censorship policy for China. Article here
  • 57% of LinkedIn users are 'engaged' Read more here
  • 2 LinkedIn shareholders cash in by selling shares. Could this be a coincidence?

Tip

Jo Saunders has provided this weeks tip. How to withdraw a LinkedIn invitation.

Does LinkedIn advertising work? I would really love to hear from any listeners about their experience of advertising on LinkedIn. Please leave me a voicemail (right edge of this page) or email me at mark@linkedinformed.com.

Do 'Specialties' in a profile have any significant keyword weighting in a LinkedIn search? Answer = No! I'm not sure they ever did but now they are not even a field of their own so do not count more than any other word.

That' it for this week, thanks for listening.

Please get in touch with any comments, suggestions or questions by leaving a voicemail or emailing mark@linkedinformed.com.

 
Direct download: LinkedInformed_031.m4a
Category: -- posted at: 10:06am UTC

Show Notes

 

Topics and links (in blue) for this week;

 

News

LinkedIn Settles Password Hacking Class Action Lawsuit for $1.25M The settlement terms provide that LinkedIn's paid users can submit a claim, but only if they declare that they read the privacy policy and were influenced by the company's statements about security. Between 2007 and 2012, LinkedIn garnered around 800,000 premium subscribers, who paid at least $19.95 a month for membership, according to court papers. But lawyers estimate that only 20,000 to 50,000 subscribers will be able to qualify for payments from the settlement fund. The US District court will hold a hearing in January to decide whether to grant the settlement preliminary approval.

Who's viewed your profile ranking adds a new 'professionals like you' section but the algorithm is far from accurate (see below)

  • Public profiles get an update
  • If you want to keep up to date with LinkedIn's constant changes, sign up here to receive an email notifying you of every relevant update.
  • LinkedIn get us excited by releasing a new mobile app with the following in the update notes;

I mentioned several other podcasts during the show, here are the links to those shows;

Please review the show on iTunes

iTunes haven't made this as easy as it should be so I made these 2 short videos to show how it is done on the iTunes site and via their mobile app;

You can buy LinkedIn connections, shocking but true! here is the article I was referring to. What do you think?

Did you know that you can contact pretty much anyone on LinkedIn for FREE without having to upgrade your account? Click here to download a FREE cheatsheet with step by step instructions.

As always, thank you so much for listening and please get in touch with any questions or comments by leaving a voicemail (see the mic symbol on the right edge of this page) or drop me an email at mark@linkedinformed.com

 

Direct download: LinkedInformed_30.m4a
Category:general -- posted at: 7:11am UTC

Show Notes

  • The UKPod14 conference was a great success and the keynote speaker was Jason Van Orden from Internet Business Mastery.
  • This podcast is unlikely to be found on iTunes until we receive more 5 star reviews. If you enjoy the show please help out by submitting a review. This video explains how it is done.
  • You can now subscribe to this show on TuneIn. Click here
  • News
    • Deep Nishar resigns, read his announcement here
    • Published posts get a makeover, see this example
    • New free LinkedIn feature alerts service launched. Register
  • What are you doing when you listen to the show? Darrel Griffin is doing his ironing!
  • Tune in next week to hear the full story of the LinkedIn sex pest!
  • Question: Why do people view profiles anonymously?
Direct download: LinkedInformed_029.m4a
Category:general -- posted at: 9:23pm UTC

News

Could this the beginning of the end of personalised invitations? Watch the video below to see what happened when inviting from a newly created profile

Introductions. It is long longer possible to send introductions to 3rd tier connections. This was spotted by Andy Lopata and covered in this post

LinkedIn acquire Bizo - See official announcement here

This article takes a look at what the Bizo acquisition might mean to us.

Here is the Business Insider article showing the (alleged) leaked memo from Linkedin

Groups

Groups all too often come in for a bad press. In reality there are plenty of fantastic groups that offer an amazing opportunity to engage with and gain invaluable information from your prospects.

Here is a link to Carl Whalley's Google Android Group

Have your say. I would really value your contribution to the podcast. Please click on the voicemail link on the right edge of this page to leave your questions or comments or ping me an email at mark@linkedinformed.com

Thanks for listening

Mark

PS An iTunes review wouldn't go a miss! ;-)

Direct download: LinkedInformed_028.m4a
Category:general -- posted at: 5:44pm UTC

News

Not much happened this week other than LinkedIn getting stung for $6m for a labour violation regarding unpaid wages. The BBC article is here

Pay it Forward

Wikipedia definition

Question

How can I save Pulse articles to read later?

My solution is to use Evernote and their amazing web clipper but you can also use Pocket

Other links

New course for job seekers coming out soon on Udemy

If you have any suggestions for people I could interview or topics you want me to cover then please feel free to leave a voicemail at the link on the right or drop me an email to mark@linkedinformed.com

Thanks for listening.

Direct download: LinkedInformed_027.m4a
Category:general -- posted at: 6:36pm UTC

Show Notes

  • LinkedIn delivers encouraging Q2 financial results
    • 313 million members
    • 84m unique visitors
    • 25bn page views (down 1bn from 1st qtr)
    • $534m revenue - 47% year on year increase
      • Talent Solutions makes up $322m of this - 49% increase
      • Marketing $106m - 44% increase
      • Premium Accounts - $105m - 44% increase
    • See  full report here
  • LinkedIn acquires Newsle 
  • The new look LinkedIn mobile app
  • Updates of previous news items
    • Zapier has delivered some useful results but is a little complicated to set up
    • New Galene search seems to have settled down and is now delivering very similar results to before
  • Tip of the week. Be aware of 3rd party apps that undertake actions on your account that are outside of the LinkedIn User Agreement. Take responsibility for your own actions on LinkedIn, it's you that will get suspended!
  • Question. What do I have to do to get my profile from 'expert' strength to 'All Star'. Answer = Get more connections. You need a minimum of 50 (aim for min 100) and have had at least 2 previous positions in your employment section. The bigger question is: Does it matter? Answer = Not really! The difference between 'Expert' and 'All Star' in search results appears to be minimal.
  • LinkedIn Contacts Now Integrate With Your Inbox. Read my post here  
Direct download: LinkedInformed_026.m4a
Category:general -- posted at: 7:07am UTC

Show Notes

News - Custom profile backgrounds are now being rolled out to non premium users

Andy's LinkedIn profile

Andy on Twitter

Andy's Google Plus profile

If you have any comments or questions please write to me directly at mark@linkedinformed.com or leave a voicemail at the link at the right hand edge of this page.

Direct download: LinkedInformed_025.m4a
Category:general -- posted at: 12:25pm UTC

LinkedIn update their Contacts app and rename it Connected, the blog announcing this can be read here (screenshots at LinkedInformed.com)

Why not give one of these a try and let me know how you get on by leaving a message on the voicemail (see the black mic on the right edge of this page). You can also ask me a question by voicemail or by email to mark@linkedinformed.com.

Direct download: LinkedInformed_024.m4a
Category:general -- posted at: 7:38am UTC

  • You can now unsubscribe from published post notifications (see below)

Click below to watch Jeff Weiner's excellent interview at a recent conference.

This is the best (funniest anyway) profile I have ever seen! Click on the image to view the full profile on LinkedIn.

Direct download: Linkedinformed_023.m4a
Category:general -- posted at: 7:24pm UTC