As LinkedIn's continued to evolve by adding new features, like live video, it's steadily grown its user base. While the LinkedIn audience still skews towards career-minded professionals, the industries, interests, and demographics represented on the platform have become much broader since its launch.
Today, it's becoming quite clear that LinkedIn isn't just for people in executive corporate roles. With millions of company pages and individual members, there's a discussion, post, or professional network for almost anyone on this channel.
But, despite LinkedIn's growth and advertising opportunities, many marketers or brands still worry that the platform is still too formal or corporate for their audiences.
The truth is -- LinkedIn could very well be one of your most underrated marketing channels.
If LinkedIn's growth has caught your attention and you want to determine if it's audiences and ad offerings are right for you, it's important to do some research before devoting more time and resources to this network.
To get you started on your LinkedIn research, here are 24 need-to-know stats about the platform's audience, growth, and most common marketing tactics.
LinkedIn Stats to Know in 2020
General LinkedIn Stats
In Q2 of 2020, LinkedIn revenue increased 21 percent year-over-year (LinkedIn)
In 2019, LinkedIn made more than 6.8 billion in revenue. (LinkedIn)
LinkedIn has more than 690 million active users. (LinkedIn)
In Q1 of 2020, LinkedIn sessions increased 22 percent year-over-year. (LinkedIn)
Marketing Solutions is LinkedIn’s fastest-growing segment. It grew 44 percent year-over-year in Q1. (LinkedIn)
LinkedIn received 30 billion sessions from its members in 2019. This was a year-over-year increase of 27 percent. (LinkedIn)
Four out of five LinkedIn members drive business decisions at their companies. (LinkedIn)
Marketing Tactics and Lead Generation
LinkedIn is the second most popular platform of B2B marketers, followed by Facebook. (Social Media Examiner)
As of January 2020, 663.3 million users have been reached by LinkedIn Ads. (We Are Social)
Data shows that the most engaging LinkedIn posts are published on Wednesdays between 8 a.m. to 10 a.m. and noon, Thursday at 9 a.m. and 1 p.m. to 2 p.m., and Friday at 9 a.m. (Sprout Social)
LinkedIn's lead conversion rates are 3X higher than other major ad platforms, including Google Ads. (LinkedIn)
Roughly 15% of marketers are creating content for LinkedIn. (HubSpot)
Only 10% of marketers say they're investing in LinkedIn. (HubSpot)
In a study of over 5,000 businesses, HubSpot found that traffic from LinkedIn generated the highest visitor-to-lead conversion rate at 2.74%, almost three times or 277% higher than both Twitter (.69%) and Facebook (.77%). (HubSpot)
Mastering LinkedIn Marketing
Because LinkedIn is a slightly different audience from other major platforms like Facebook, Twitter, or Snapchat, you'll want to understand the audience before investing time or resources into a campaign or advertisement. Be sure to keep the stats above, as well as emerging research about the platform and its audiences, in mind as you prepare your next social media strategy.
If you're looking for more inspiration or hard research to help you guide your LinkedIn strategy, check out this great post which highlights the most engaging topics and posting strategies on the platform. If you're more interested in boosting your personal profile and network on LinkedIn, here's a guide on how to become a LinkedIn thought leader.
Originally published May 28, 2020 7:00:00 AM, updated May 28 2020