This week, LinkedIn rolled out new company page analytics for this business pages. Now, this may not seem like that big of a deal, but believe me it is. Here’s why:
LinkedIn is Already a Great Company
If you know me, or read this blog regularly, you know that I’m already a huge fan of LinkedIn (see my conversation with CEO Jeff Weiner, or my analysis of Facebook’s GraphSearch). What makes LinkedIn such an amazing company? First of all, they are monetizing their 200 million users in ways that no one else in the marketplace has been able to: by offering value to both consumers and corporations through a paid model separate and apart from just advertising revenue. Also, they are in a class all their own: No one else is providing recruiting services, networking opportunities, or high-level content geared specifically toward the businessmen and women in the world. But enough about my love affair with LinkedIn as an entity, let’s get down to these analytics:
A Great Thing Just Got Better
While LinkedIn has been dominating the marketplace for individuals (i.e., recruiters, job-seekers, serial networkers, etc.), they have been falling behind their competition in the market share for businesses. The Facebook communities and the Twitter followership of major brands have far surpassed the largest company pages on LinkedIn. There are a few explanations for why this might be the case:
- LinkedIn is still trailing its competition in overall membership– LinkedIn surpassed 200 million users in January, whereas Facebook just announced they have more than 100 million daily active users.
- LinkedIn demands a higher level of content– Because the audience on a LinkedIn page is more sophisticated, it demands a higher-level content and is therefore more difficult to engage and interest an audience.
- Lack of value proposition- Over and over again, I’ve heard from small business owners and corporations, “I already have a Facebook page, why do I need another?” or, “Why would someone visit this page over reading my Twitter feed?”
While the first two causes still represent disadvantages that LinkedIn has in comparison to the market, the third bullet could not be more incorrect. It is crucial that a brand be represented in a professional setting using a LinkedIn company page and last week, that became even more apparent. With the introduction of the new company page analytics, LinkedIn community managers are now able to see exactly how their posts are performing, who’s seeing them, and what their engagement rate is. I would think this addition will make LinkedIn a more desirable place to post content and help increase the popularity, not only of LinkedIn as a channel, but of brand and company pages in particular.
What do you think about the new LinkedIn analytics? How will they change the shape of the current social media marketplace?