If you are an SME, a Startup or Freelancer and not actively using LinkedIn to grow your business in 2020, you may be missing out on a great opportunity.
LinkedIn is on the rise with 706 million registered members in 150 countries as of May 2020, and it’s available in 24 languages. Here is why LinkedIn is crucial for your business
Growth potential for businesses
LinkedIn is chiefly used for professional networking, which is entirely founded on business relationships and interactions.
LinkedIn gives you the platform to upload short videos in which you can advertise yourself and your services or products. With its global outreach and its massive membership, LinkedIn is a hub of customers and connections.
If you are a content creator, then LinkedIn gives you the platform to reach out to followers in their thousands and millions through your video views.
The professional networking services enable you to source and maintain professional contacts. It is a confluence of professionals, content creators, customers and employers who consume the untapped potential of your business.
The numbers are mindblowing
One of the biggest advantages of LinkedIn is its global outreach. As a subsidiary of the tech giant Microsoft, whose name speaks for itself. LinkedIn has over 575 million users with more than 260 million active users, 40% of which have daily access into their LinkedIn profiles.
The demographics also reveal that LinkedIn is 277% more effective at generating leads than both Facebook and Twitter with 79 % of marketers vouching for LinkedIn for the same and 43 % of which assert having sourced from LinkedIn.
These numbers are the reason why LinkedIn is taking the market in a surge.
Exposure your brand
The act of creating a distinct professional reputation for yourself can be a powerful tool for your business.
It solidifies your position as the go-to person in your field of expertise and this acquires you a strong customer base who seek your services or products.
It earns you the expert voice and your opinion is considered expert opinion and it builds trust between you and your customers, and prospects. LinkedIn enables you to build your brand by providing a platform where you can meet and interact with people who can get your brand and develop relationships with them.
It is a convergence for professionals and experts as well as corporations who may take an interest in your content and give you your breakthrough. Your brand may also be noticed by influential publications and have your work featured in them and this puts your name out there.
LinkedIn groups are groups that constitute more than one LinkedIn member, most often members of the same field of expertise or operate in the same industry.
Here members can interact, ask each other questions, bounce off ideas and even give advice and counsel to each other. You can also partner with each other and in so doing build business relationships and help each other’s businesses grow.
You could also join groups that are not inherently within your field of expertise but could potentially be relational to your field of expertise with whom you can form partnerships with and get referrals.
Besides providing an ideal avenue to grow your business to its potential, LinkedIn can also be your avenue for identifying and creating partnerships.
It offers a platform where you can look for business partners who would require your products or services, with whom you can work together in order to build each other.
Besides the symbiotic partnership, you could look for non-competing businesses who could render your products or services to their customers.
For example, if you deal in computer software, an ideal non-competing business would be dealers in computer hardware, with whom you can form partnerships.