Jul 13, 2023
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Show Transcript
AJ Wilcox
Do you want to guarantee that your LinkedIn Ads will be successful?
This is the episode for you. Buckle up and let's go. We're talking
about everything you need for success on this week's episode of the
LinkedIn Ads show.
Welcome to the LinkedIn Ads Show. Here's your host, AJ Wilcox.
AJ Wilcox
Hey there LinkedIn Ads fanatics! We've talked to and worked with
many 1000s of marketers all about LinkedIn Ads. And there is one
common thread if I can draw this. And that's everyone wants a
guarantee that their LinkedIn Ads are going to work. Although it's
impossible to guarantee success. We put this episode together to
give you the highest chance of success. And I brought a special
guest today that I know you're going to love.
AJ Wilcox
First highlighting a review Detayil from Turkey says, "Great
podcast for LinkedIn Ads. This is my go to podcast for LinkedIn
Ads. AJ Wilcox has insights and thoughts on different subject
matter are super helpful." And then Detayil left the shooting star
or shining star emoji. Now I hope I'm pronouncing your name, right.
So please reach out and correct me. But I love your name. And thank
you so much for the kind review. I'm so grateful that our content
can be helpful to you.
AJ Wilcox
Alright, I'm stoked to bring Parker Williams on as a guest. He has
been working with B2Linked for years, first as an account manager,
then he was our head consultant. And we've also given him in charge
of sales. Parker talks to advertisers and marketers every day. And
he knows the process all the way through. I'm bringing him on to
share his insights for what brings success. All right, let's hit
it.
AJ Wilcox
Hey, everyone, I'm super excited to have Parker Williams here. For
those of you who don't know, Parker is our head consultant. He's
our head of sales. And I'm bringing him in on this conversation to
talk about what it is that you need when you're starting LinkedIn
Ads. I wanted to bring him in for this conversation to discuss are
you ready for LinkedIn Ads. So Parker, thank you so much for
joining me today.
Parker Williams
You're welcome. I'm excited. This is gonna be awesome.
AJ Wilcox
So Parker, I've got to ask you, because you're the one who was the
first person to talk to all of our clients. Why should you even
care about LinkedIn? What does it have that other channels
don't?
Parker Williams
Yeah, that's a great question. I don't believe that there's any
other platform out there that allows you to target a specific
company and the job title and be able to pair that with intent
triggers or data that signifies that they might be in market for a
service that you're selling. That's just extremely deadly to me.
And that's for just companies that are wanting to add business to
their pipeline. If you're using LinkedIn for other objectives,
which we're going to go into that don't deal with sales, maybe it's
with recruiting, or just brand equity, and employee or employer
value proposition and building your brand equity. There's no other
way to do that than on LinkedIn.
AJ Wilcox
And I especially love the scale, because there are platforms out
there that will let you target by things like job title, and
company name and company size and all that. But LinkedIn, because
the vast majority of white collar professionals out there have
LinkedIn profiles, the scale is near endless. I don't know if you
feel the same way. But it's so rare when someone comes to us with a
larger budget than they can effectively spend on LinkedIn.
Parker Williams
Yeah, so true.
AJ Wilcox
Alright, so who should be considering advertising on LinkedIn?
Parker Williams
Yeah, I get asked this question a lot. And it really depends on
your purpose. And, of course, the size of your company. And if you
have the budget, it is an expensive platform. We always tell people
that. But it's only as expensive as you make it. So I do think it's
important to always consider your purpose or the objective for
advertising on the platform. So we usually break it up into three
categories. The first category is if you're wanting to generate
leads or sells utilizing LinkedIn Ads, you want to make sure that
you have a lifetime value between 10 and 15k, or an average deal
size of 10 and 15k or, or more. And then the next thing is making
sure that you know that your buyer is on the platform. So we work
with a lot of B2B SaaS companies. And if I told you, if you're a
B2b SaaS company, and you were wanting to and I told you this
platform was perfect for you, but you sold software to dentist,
this probably wouldn't be the best platform because dentists aren't
always necessarily very active on the platform. So the real
question you want to ask yourself is, is my lifetime value, the
right size for the average ticket value the deal you're selling?
And is my audience active on the platform? You might also be
wondering, you know, what is active mean? And that can be to me,
weekly basis would mean active. If they're not active more than
once a month, then it would be like fishing in a pond with very
little amount of fish. And it would be extremely hard to get their
attention. You'd struggle to spend your budget. And that's what
we've seen with brands and companies that we've worked with where
their audiences and active on the platform, we just can't spend
their budget. And we can't achieve their goals of generating leads
and sales for their company.
AJ Wilcox
I specifically remember a campaign we were trying to run where we
were hiring door to door sales reps, and I thought, oh, sales reps
are on LinkedIn all the time. But I totally misjudged the idea that
if someone is doing door to door sales, they're not working in
front of a computer. So of course, they're not going to be active
on LinkedIn. And it was intensely hard to reach those people. I
would have called that campaign a failure.
Parker Williams
Yeah, that's a great example. And it really is so important to just
ask yourself, Are they active on the platform? And you might be
wondering, well, how do I know if they're active on the platform?
And this can be simply done by doing some outreach, and just
running some tests by reaching out to people and seeing if you can
get any responses from them? Or ask your sales team? What are you
using right now to get in front of your audience? Are you getting
any sales from LinkedIn and reaching out to people through
LinkedIn? If you are, then it's fairly promising that if you are,
then it's potentially a great opportunity to advertise on the
platform. And that's a good signal that your audience is
active.
AJ Wilcox
Awesome. What about recruiting? We had an episode not too long ago
all about recruiting on LinkedIn, we know it tends to perform
pretty well. What about that as an objective?
Parker Williams
Yeah, that's a great question. I really think what you want to
consider here when leveraging LinkedIn ads for finding individuals
for roles that you need to fill in your company, you need to ask
yourself, how valuable is this employee? If you're hiring, blue
collar, or I think a good rule of thumb would be anyone that's not
an executive or a director, or it's probably high pay, right, like
$50,000 or more, $75,000 or more and pay, how valuable is this
employee to your company, would be really important to consider
when you're thinking about running ads to recruit individuals for
your company and getting specific talent. But it can be really
deadly and it can definitely out beat recruiters themselves. Sorry,
recruiters, I don't mean to hurt your feelings or anything. But
we've seen this be an extremely valuable tool with finding
individuals who are employed right now. Because those are your best
employees. They're paid players. They're individuals that aren't
out looking for a job. Those are the ones that you want to get. And
I don't know of any other platform out there that really allows you
to target a job title or someone already with the skills you need
and the talent that you need, and be able to put a job opportunity
in front of that person. I just don't think there's any other
platform that allows you to do that.
AJ Wilcox
Yeah, I found exactly the same thing. Alright. So aside from
recruiting and selling, are there any other uses of LinkedIn Ads
that you can think of?
Parker Williams
Yeah, that's a great question. We've worked with some cool
companies in the past, one of them was a major Japanese
conglomerate, and they wanted to just increase their follower count
for their company, and their employees that worked for their sister
companies. And we leveraged LinkedIn to be able to do that. It was
extremely powerful. We achieved their goals. So if you're trying to
improve the overall brand equity, and make your company look big,
it's a great tool. It's also a great tool for companies like Coca
Cola, or Nike, or a Gap that want to just build more awareness of
their company. For those that might be looking for jobs, maybe for
the lower paid employees, maybe the blue collar, because when they
are looking for jobs, it is also another way to build more
awareness, where these companies just have massive amounts of
employees that they need to hire for maybe seasonal periods of
time. So that can also be a really powerful tool.
AJ Wilcox
And another great use I can think of, we just recently worked with
a major Fortune 500 retailer, and their whole goal was EVP or
employer value proposition. The whole concept is raising your brand
with the people who are already working for you. And LinkedIn can
do this so well, because we're able to target the employees of
specific companies, and especially the larger the company, the more
efficient and able we are to show ads to them. You can think of it
like doubling up their internal intranet with additional messaging
that makes them proud to work where they are.
Parker Williams
Yeah, thank you for clarifying that. I think that's really, really
important.
AJ Wilcox
I think it's safe to say that everyone who is talking to us wants
to have success immediately. It's like they want leads in the door
that are gonna close like yesterday, I have to ask, what do you
need to have in place in order to be successful very quickly in a
short amount of time?
Parker Williams
And that's like the golden question right there. Honestly, when it
comes to being successful on LinkedIn, immediately within like a
month to three months, I think about targeting being the most
crucial aspect, if you don't have an audience that's hot, you know,
they know like and trust you, you know, they're the buying stages,
right now they're the decision stages, if you don't have that, you
can pretty much expect to not have any results right away. Other
thing too, is you got to make sure that the messaging and the offer
that you're providing that audience, so the value proposition or
your product market fit is dialed in, because you could have an
audience that you might consider hot, but if your messaging is off,
and your product doesn't solve a need that they have, then it's
fairly likely that you're also not going to see results, I wouldn't
even call that a hot audience, truly. So making sure that you have
product market fit, we hit on this already, your lifetime value
needs to be 15k, you need to have spot on messaging, your audience
needs to be dialed in, they've got to be a warm audience are a hot
audience. And then one of the things people forget a lot is what
kind of content do you have to support this buyers journey as well.
You need to be able to answer their questions that they're going to
have in the process of buying your product or your service. And
then most importantly, is do you have the budget to achieve these
goals? We've mentioned this a lot. LinkedIn is expensive. And so
making sure that you have the budget to be able to achieve those
goals is really important. And then you have something to capture
sales, so does your sales team set up to be successful. And if
you're generating leads, and you don't have anyone that can close
the deals, you're just gonna waste your money. So I feel like those
are the most important things that you need to have in place in
order to be successful in a really short amount of period, the
first one to three months of running ads.
AJ Wilcox
Alright, let's say that we're lacking in any of these areas, or we
have a brand new market or brand new company coming to advertise,
when do you think they could expect to see results?
Parker Williams
Yeah, that's a great question. I usually tell people, and this is
based off of what we've seen as an account management company. And
as a service provider for managing budgets, we tend to see
companies like that that you just described, they start to see
results in the months between 6 and 12. And what I mean by results
that can mean sales or deals that are in cells hands, like they're
working a deal that could potentially turn into a major contractor
or sales opportunity for the company, or they've closed some deals.
We do see outliers. There's always people that see immediate
results, because there is that market that is in the buying phase
or is currently in the market for the service that you provide. We
know that that's between like 3 and 5% of the market. So you could
potentially see results in the first three months, but it's really
unlikely.
AJ Wilcox
All right, here's a quick sponsor break, and then we'll dive right
back into the interview.
The LinkedIn Ads Show is proudly brought to you by B2Linked.com, the LinkedIn Ads experts.
AJ Wilcox
Managing LinkedIn Ads is a massive time and money investment want
to return on that investment? Well, consider booking a discovery
call with B2Linked the original LinkedIn Ads performance agency.
We've worked with some of the largest accounts over the past 12
years. And our unique scientific approach to ads management,
combined with our proprietary tools, allow us to confidently
optimize and scale your LinkedIn Ads faster and more efficiently
than any other agency, in house team, or digital ads hire. Plus,
we're official LinkedIn partners. Just go to B2Linked.com/apply.
And plus, you'll get to do your discovery call with Parker, our
special guest today. All right, let's jump back into the
interview.
AJ Wilcox
So we definitely know that LinkedIn Ads is a premium platform,
you've mentioned as much. What should we expect in terms of cost
and performance as we're jumping into LinkedIn ads for the first
time?
Parker Williams
And so thisis a really hard question to answer because every
company is so different. There's so many variables, we do know some
average costs on LinkedIn, you can pretty much expect that your
average cost per click can range between $10 and $16. And there's
always outliers, we've seen some accounts where their cost per
clicks are in the $30 range. And we've had some down below the $10
range. And that's mostly due to the competitiveness of that
audience and who's trying to get in front of that audience. And
that can also vary. I've had accounts where our average cost per
clicks were in the $10 range. And then at a certain point in the
year they've started to bump up and the only explanation was, we're
either hitting ad fatigue and our quality scores were going down,
and we had competitors come in and start targeting that person. So
costs can totally vary. If you're selling this internally to your
boss or to a team. And you're a first time advertiser to set clear
expectations that we need to come in and set our own benchmarks and
set our own expectations. You can kind of give them some range.
We've seen on average cost per calls booked between $400 up to
$1,500. And again, there's always outliers, I've seen lower costs,
I've seen higher costs. So hopefully that gives you an idea. But if
you're a first time advertiser, you've got to set some of your own
benchmarks. Or you can really get yourself into some trouble and
potentially lose your job because you set expectations and totally
over promised and under delivered. So yeah, be careful.
AJ Wilcox
So how much does someone need to budget for LinkedIn Ads? I know
this is a tough question.
Parker Williams
Yes. So to go back to the objectives, why are you advertising on
LinkedIn? Are you wanting to generate leads? Are you wanting to
recruit somebody? Or are you purely just doing EVP or increasing
the brand equity of the company, the budgets going to change in
range. I'm going to use the example of generating sales, because
that's majority, I feel like that's what most people want to do
with the platform is generate more sales and leads for the company.
So for first time advertiser, we usually recommend anywhere from 5k
to 8k, up to $15,000. Whenever you can budget there, your goals do
play a part in that. So if if you have an objective to generate
leads, but you have a quota or a company goal to generate a certain
amount of sales, by a certain point, your budgets going to affect
that as well. But we always recommend $5 to 8k Starting budget. And
if you can get more up to 15k, that should give you enough data to
be able to learn the platform, set your own benchmarks start to
generate some leads and sales for your company. Of course, with all
of the things we talked about previously in place as well.
AJ Wilcox
Alright, so let me give you a scenario here. So I have a budget of
$15,000. I come to you with a list of like 300 companies and a
couple of job titles that those companies to target. What would you
tell me?
Parker Williams
Good luck spending that $15,000. No, but seriously, we would
consider that like an ABM approach, right? You've got it an account
list of companies you want to sell to and market to, it's probably
not likely that you're going to spend that $15,000. If you have
somebody managing that account. If you gave the keys to LinkedIn,
you probably will spend that 15k. But it's still probably really
not likely. So with a an account based approach, or even a
retargeting approach where you're retargeting a small audience, you
can expect to spend anywhere from $,1000 to $5,000 and get in front
of that audience and get some results. But don't expect to yield a
bunch of leads out of that. And you don't necessarily need to
either,
AJ Wilcox
I can definitely second that if you give the keys to LinkedIn, they
really can spend that. But then you find yourself spending like $50
to $80 per click, and it's not spent wisely. Okay, so as a new
advertiser, what advice do you have for me in terms of mindset? How
do I need to mentally prepare for this?
Parker Williams
So I love talking about mindset and marketing, because I feel like
this is where I see a lot of marketers fail. I don't know if you
know who Mark Rober is, but I love him, my kids love him. And we're
subscribers to his crunch labs. And it's really changed my mindset
to think like an engineer in marketing and sales. And so if you're
a new advertiser on LinkedIn, you've got to go into this with an
engineers mindset, expecting to fail in identifying where are we
failing, and be okay with that, and then pull the levers and make
the tweaks and changes that you need to to help improve the
performance of the campaign and get the results you need. But
having an engineers mindset is, is so important, because you're
gonna get your feelings hurt, and you're gonna see failures. And so
if you come into it thinking, oh, gosh, we're going to hit a
goldmine, we know our audience is here, we're going to generate so
much revenue from this, like, just understand that that's just not
reality. If it was, everybody would be doing it. And everyone would
be making so much money off of this platform. And there are people
that are, but it takes this mindset to be able to do it.
AJ Wilcox
I'm so glad you mentioned Mark Rober. Me and my kids are huge fans.
And I definitely think that was really good advice that don't let
your feelings get hurt. Our job as marketers is to test because
ultimately, we don't know what's going to be successful. People
will even ask me like, is this going to be successful on LinkedIn
Ads, and I'm probably going to be wrong more than half the time.
And I've got a lot of experience doing this at this point. Another
question that we get really often is what kinds of ad formats and
objectives do you suggest running on LinkedIn Ads?
Parker Williams
This is a really important question to ask internally when you're
planning to run some ads because it does help you set up our team
and your team for more success. If you have in mind already, what
types of ads you're going to run. So creatives, the types of
formats this does set you up for some success, but we always advise
that you're going to run single image ads, so newsfeed single
image, and then video ads, but single image is a must. Video ads
aren't always necessary, but they do help build trust really fast.
So if you're wanting to get results faster, I plan on having some
video ads, and then we always recommend running text and dynamic
ads to help support the other ad formats. I like to refer to them
as the supplemental ads. So they're kind of like the supplements
you take to help with your day. I
AJ Wilcox
write Yeah, I think that's really good guidance. I remember once
running a test where we were running just single image ads, and
then we turned on text ads to the same audience. And just by having
text ads running, we saw our click through rates jumped 16% on our
sponsored content. So most of our diets nowadays require
supplementation. So do our ads. Yeah. And
Parker Williams
I also think it's important that you don't overthink this single
image. And video ads can be simple, they can be authentic, real,
not overly produced. And those can do fairly well. We've also got
an awesome client that I love working with, they're called Video
brothers. And they're like a Harmon brothers highly produced
incredible production level. And they've also seen great results
from this as well. And so you can have both sides of the spectrum.
But at the end of the day, I always tell people, the format and the
medium doesn't matter. It's the content and the audience
temperature. If you're answering these three questions, do I have
the right message at the right time in front of the right audience?
You're gonna be successful. Now? How do you distribute that that
format, it's important to have these three in place, but it's not
overly crucial. And don't put too much emphasis on having it
perfect.
AJ Wilcox
Yeah, that's great advice. Alright, so if you have someone who's
looking to possibly work with you, what's the onboarding process
look like?
Parker Williams
I'm gonna kind of answer this as if you were to work with us or
even do this on your own for advertising. So I always tell people,
it takes our team about two to three weeks to get ads up and
running. I think it could take somebody who's full time for a
company to do a little bit quicker. And that's if you have all of
the things in place that we've talked about previously. So you've
got your messaging, your offers landing pages, content, your
targeting, I don't know if I mentioned that. But you have all those
key things in place, you can expect to have ads running and live
fairly quickly. But just plan on two to three weeks, because
there's conversion tracking, and there is targeting and you do have
to wait for lists to upload sometimes that can take up to 48 hours,
sometimes 72 hours, depending on the list. So there are certain
things that you need to plan and prepare for but just plan on two
to three weeks, whether it's working with us or doing it on your
own.
AJ Wilcox
Yeah, so it's definitely not one of those, like, open up the
platform and you're live within a few hours. If someone's
considering working with us. Can you share a little bit about what
those costs look like?
Parker Williams
Yeah, absolutely. So we're definitely on the higher end. I you're
going to work with us, we bring a lot of value and it's mostly due
to our experience, the tools we've developed the processes, the
strategy that we've developed, so you definitely get what you pay
for. Our price range ranges anywhere from 2k to 3k for budgets
under $15,000. Of course, depending on your objectives. So if
you've got an ABM approach or a retargeting audience that you want
to run ads to, you can plan on spending anywhere from 2k for
management fees up to $3,000. If you're from $8,000, in spend up to
$15,000 plan on a $3,000 management fee. If you're over that
$15,000 monthly media spend, our prices range anywhere from 20%,
down to 9.5%. And if you're listening to this right now, at this
time of year prices do change, we do increase the value we provide.
So we do highly recommend, go check out our website public about
our pricing, we try to update that regularly. So if there are any
changes, you can pretty much expect to find it there.
AJ Wilcox
So why would you want to work with us with B2Linked instead of
another agency or hiring an in house person to run it?
Parker Williams
Yeah, great question. We've been running ads since 2011. And we've
got a lot of experience. We've worked with a lot of different
accounts in different industries, helping solve different goals and
objectives and problems that companies are dealing with the
platform. The platform is constantly changing. We're always staying
up to date on the changes and what's working, what's not working.
We are the only ad agency out there that is partnered with
LinkedIn. And so we do get a lot of information from LinkedIn that
they don't necessarily always publicly shared right away. So
forward thinking with the platform on top of that, I feel like one
of the biggest things, though, is the proprietary tools we've
developed that help us save anywhere from 30 to 40% on costs, and
helps us get additional insights that the platform doesn't provide.
We're able to launch ads faster than anybody else out there because
of these tools, so we can learn faster. So these are some of the
things that if I was a buyer, I'd be really interested in because a
media buyer at the end of the day, it is somewhat of a commodity
like anybody can launch ads. But without these proprietary tools
and these and this experience, and just overall relationships we've
developed, it'd be hard for me to decide to go somewhere else if I
was buying the service.
AJ Wilcox
Yeah, I think you're right on there. Something else I'm really
proud of is we have access to LinkedIn's API. We've built our own
reports that pull really deep data from LinkedIn that LinkedIn
themselves don't have so we can give insights to our clients that
they just can't get anywhere else. So that's one of those little
brags I like to throw in there.
Parker Williams
Yeah. And also one thing I forgot to mention, Ajay kind of struck
my memory here that I feel like not a lot of agencies do this. I've
shopped for agencies myself at other jobs. Something that I was
really impressed with when I started working at B2Linked was that
you take time to look over every single account that we are
managing. You schedule office hours with all of our account
managers, and you dedicate that time to make sure that they're
getting their questions answered, and that they're becoming the
best at LinkedIn Ads as well. And so you're still putting your own
personal touch on every single account, which I think is really
impressive. Not a lot of people do that. I also feel like something
I've seen in the marketplace with agencies is I've seen accounts
that account managers that aren't very transparent about what's
going on in the account. One of our values of the company's
transparency, so we strive to educate our customers on what we're
doing, why we're doing it, and how we're doing it. It does take
extra time, but if you're going to take this account and take it
internally, we want to help set you up for success to do that, if
that was your objective, and that happens a lot. We see that happen
all the time. We don't necessarily like that, because we always
want to keep a customer long term. But I do think it's important
that if you are hiring an agency to help you discover this
platform, and test it and learn it, or even just manage and
optimize the account that there's that transparency.
AJ Wilcox
Yeah, I totally agree with this. I absolutely hate when I hear
about ad agencies that are holding the keys to an account. And then
once the client leaves, they don't give them access. Everything we
do, the client owns. They own their account, they own their data
going forward. And I feel much better about that than trying to
hold an account hostage, trying to keep a client longer.
Parker Williams
Yeah, I think that's huge. And it happens more often than not, I've
taken over account. And I've learned that I've that previous
provider that were the person running the account had deleted a
bunch of campaigns and removed things. And I just think that's
ridiculous. But I think that's huge. So outside of that, though, I
feel like our staff is trained by one of the best advertisers, I
think in the world. Has tons of experience. We're constantly
training and teaching them and helping them improve as marketers
themselves. So on top of all the tools, the experience, the
processes, our staff, they're incentivized to take ownership. And
that's also really important as well.
AJ Wilcox
Alright, so let's say someone is interested in working with us,
what are the next steps to working with our team.
Parker Williams
So the next steps, I would recommend reaching out to us so you can
go to our website, B2Linked.com/apply, or just to our website,
B2Linked.com. And you should be able to book a discovery call.
You'll meet with me or AJ, or one of our other consultants. And
we'll make sure that we're a fit, first off, and make sure that we
can help you with your goals and objectives. And we're very
transparent and honest about that. We don't take on clients that we
know we can't help. And so make sure to schedule that call and
visit with us first. And then we'll help put together a customized
proposal that will help kind of guide you along the way of
purchasing the service and also working with LinkedIn for running
ads. Following that if you decide to work with us, and it's a fit,
you're gonna fill out an onboarding sheet, and our team goes
through that onboarding sheet, and they'll verify it with you on an
onboarding call, and then pretty much off to the races from there.
They'll start setting up the account and start getting ready to
launch as within a two to three week period. So yeah, that's
usually what you can expect with onboarding and next steps.
AJ Wilcox
Love that. Will Parker, thank you so much for coming and sharing
your guidance here. It's been super valuable. I tend to talk about
this stuff quite a bit. So it's always really fun to hear someone
else talking about it and hearing their examples and their
approach. So thanks so much for sharing everything here with us.
Yeah, absolutely.
Parker Williams
Thanks for having me. It's been a pleasure.
AJ Wilcox
All right, I've got the episode resources for you coming right up.
So stick around.
Thank you for listening to the LinkedIn Ads Show. Hungry for more? AJ Wilcox, take it away.
AJ Wilcox
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bounce ideas and learn things from your fellow LinkedIn Ads
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excited to have you here. Make sure to hit that subscribe button.
But if this is not your first time listening, please do go review
the podcast on Apple podcasts. It is by far the best way that you
can say thank you for all the hours that we put into coming out
with this content every week. With any questions, suggestions, or
corrections reach out to us at Podcast@B2linked.com. And with that
being said, we'll see you back here next week. I'm cheering you on
in your LinkedIn Ads initiatives.