The Top Spending Linkedin Ads for October 2021
I'm going to help you save thousands of dollars on Linkedin Ads. Don't be like me, and make all the mistakes and waste all of your precious ad spend. Here are 16 mistakes you can easily avoid.
Linkedin has an Automated Bid feature called “Maximum delivery”. This will aim to spend your entire budget as fast as possible. I have seen this spend $1000 in a matter of minutes without getting a single conversion. Save yourself the money and never select Autobid.
Secondly, on the target cost or manual bidding option, you are bidding on cost per click and Linkedin suggests a bid range based on the country and audience selected. Bidding in this range will usually ensure you get spend on your campaigns however you can achieve similar results at cheaper results. Start way below the recommended range.
I strongly recommended starting on floor bids, which is the minimum amount possible. You can find the floor by entering 0.1 in the bid amount and it will come up with an error letting you know what the minimum bid is. If you have a really good ad with high click-through rates, you can achieve really good results. However, if you find you are not getting any impressions or spend, slowly bid up every day by $0.10-0.20 daily until you reach the level of spend you want.
This will make sure you are getting the best bang for your buck as Linkedin Ads can be very expensive.
There are 3 main objectives you want to focus on.
Depending on your goals, either one of these options is good.
Website Visit/Conversion will only charge you on the clicks to your landing page. This is a good starting objective for most advertisers.
Lead Generation is a form that is native to Linkedin and generally has very good conversion rates. If you are doing lead gen, and don’t have an optimized landing page ready to convert traffic, I would recommend trying this option. However, this is the most competitive objective and can be quite expensive.
Engagement is an underrated objective. You are charged for every engagement on the ad, including each reaction, however, you can bid a lot lower than web visit/lead gen and if you can get at least 30-40% of people to click out on your link, it’s usually worth it. This is a bit more advanced technique in Linkedin Ads but worth a test.
I would recommend starting with a low amount of ads and copy iteration, not more than 2 images or videos and 2 copy iterations. Because Linkedin ads are quite expensive, it will cost a lot more test ads. So it’s best to consolidate the tests and not to have too many ads.
Linkedin will also prioritize ads that have the highest CTR, but that may not necessarily perform the best. It’s important to check your conversion rates on an ad level as it may be that the lower spending ad has the best conversion rate. In this case, pause the top spending ad so Linkedin can focus the spend on the highest converting ad instead of the highest CTR ad.
Linkedin has a ton of targeting features based on first-party data. This is excellent to get to this level of granularity and may be tempting to go extremely laser-focused. However, these campaigns will rarely spend a lot and next to impossible to scale. It’s good to launch a very targeted campaign and a broader campaign at the same time. Audience size is important!
Linkedin is a professional networking social media however, your ads need to stand out. Don’t fall into the trap of making your ads look too professional or else you will end up with a low CTR and not get the results you want. Don’t be afraid to experiment with a more unconventional approach such as UGC, User Generated Content.
It’s very important to look at competitor ads, to know what ads are working for them so you can take inspiration to craft your own ads. If they are spending on the ads and are in a similar niche to you that tells you two things.
How can you find competitor ads? You can go on their company, under “Posts”, there is an Ads section. You can see their most recent ads.
An easier way is to use adfind.co to search with any keyword to find relevant ads. You can also see estimate ad spend levels to find out which ads are working the best.
LAN or otherwise known as Linkedin Audience Network connects with top-tier publishing websites and will only target Linkedin users who use those websites. However, after a few different tests, we found the conversion rate to massively plummet and the audience quality to be different. Likely the users are not in the same mindset when scrolling through Linkedin compared to reading an article. This will increase your audience size but your audience quality will drastically reduce. This trade-off is generally not worth it.
This expanded your audience with similar characteristics to the audience your targeting. However, this will give it the liberty to increase a few options, maybe go for lower seniority and years of experience. In my opinion, this is not worth it and I never use it, I would recommend the same.
We know Linkedin is expensive. So you will probably need to commit a couple of thousands of dollars to effectively say if Linkedin Ads work for you. I would recommend at least 100-200 clicks on 1 campaign to get an idea of conversion rates and cost per acquisition. This can cost $500-2000.
I would not start Linkedin Ads without this unless you are running with the leadgen objective type on Linkedin. This is extremely important and will save you a lot of money down the line. You could even test the landing page with traffic from other channels to optimize it first before testing Linkedin.
Text ads may not be sexy, but they are damn effective. Text ads can be a cost-effective way to get your conversions since you pay on a CPC model and can bid at the lowest bid of £1.50/$2.00. You will also generate lots of impressions. You can include emojis in the text ads to make them stand out more.
Stock images generally don’t stand out on Linkedin and will have quite low CTR. It’s better if you can take the pictures or videos yourself or annotate or add text on the stock images.
Emojis can be a really quick and easy way to boost your CTR and make your ads stand out. Just because Linkedin is a professional network does not mean you can’t use Emojis. The only thing to note is to not use too many. Not much than 3 in the body copy and not more than 1 or 2 in the headline.
Ad Copy is extremely important. If you can tailor your ad copy to your specific audience, such as “Calling all Accountants” This will help increase your CTR and relevance score for your ads and should also prequalify the traffic so the quality is better for people clicking through.
Start with images or videos. These are likely to have the highest chance of success. Don’t start with carousel or spotlight ads or any of the other formats.
The creative is the part of the ad that grabs the most attention. Not including text on the actual image itself or video can be a big mistake. I wouldn’t add a whole paragraph here but a few words could make or break a creative.