LinkedIn users work at small-sized or medium-sized businesses, do you want to reach them?
Do you know how to use LinkedIn ads?
In this column, through unique LinkedIn ad targeting, you will discover how to reach more small- and medium-sized businesses.
Why Company Size Targeting Does Not Always Work
The Company Size filter is one of the most helpful targeting filters within LinkedIn advertising. Based on the size of the company in relation to what your product or service costs, to target the companies that are most likely to purchase your product or service, you can use it. For instance, each month, a 10-person company have to pay for a tool $19 than for software $4,000.
Especially, for businesses of not only small size but also medium size, cost is an serious consideration. Unfortunately, when you try to target either of those segments on LinkedIn you have to face to face with two-fold problem.
First of all, Employees of companies have profiles on the network, but not all companies with 50 or fewer employees have set up a company page on LinkedIn. Besides, individual employees who work at a business are not required to associate their profiles with a company page while companies who do create company pages are required to fill in the Company Size field.
Let’s look at the screenshots below to see for marketers who want to use Company Size targeting, what that disparity means. You can see it is an estimated total of 400 million LinkedIn members available for ad targeting in the first image.
The size of the target audience will naturally go down when you apply filters to reduce that audience to match your ideal prospect. Which is expected.
However, you can see that the estimated target audience go down to 31 million LinkedIn members when you filter the audience to show only companies with 50 or fewer employees (like showed in the second screenshot below).
That is just 7.8 percent of the original 440 million possible target audience, which is really cutting a lot of your potentially golden audience.
That means that just nearly 25 percent of all LinkedIn members have a company size associated with their profiles.
Actually, it is a really good thing while this looks bad, because you can get significant discounts on ad clicks when you want to pursue audiences that others do not bother with or do not know how to target. This is how to get to those LinkedIn users.
To Filter by LinkedIn Company Size by Using Exclusions Instead of Inclusions
By excluding all the company sizes you do not want to reach, you can build your target audience, instead of building a target audience by including only the company sizes you want to reach.
For instance, you can use the broad exclusions to filter out companies with 51 or more employees when you want to reach companies with 50 or fewer employees. Now you have an audience of 300 million potential target members by using the exclude option in your filtering; the audience of 31 million that you get by using the include filter is approximately 10 times lower than this audience.
Let’s try using the broad exclusions to filter out companies with 11 or more employees when you want to reach companies with 10 employees or fewer. Recently, the estimated target audience size remains the same for me, to exclude companies with 51 or more employees like when I run the targeting.
To sum up
A smart way to generate ideal leads, many marketers use Company Size filters because Company Size filters are really valuable. Still, the targeting relies on humans to ensure the relevant data the filters need is entered into LinkedIn in the first place.
This targeting trick will make you access to 10 times more potential prospects, and at lower levels of competition than you faced before being able to reach them, when your ideal audience is made up of small-size and medium-size business prospects, and you are marketing to them using LinkedIn advertising.
What do you think about this targeting technique? Do you try it? What do you get from it for your audience sizes? Let’s write down your thoughts and experiences in the comments below if you have.