Yes that is correct. Linkedin Ads do not work to generate new customers. I this video blog I review a Waterloo advertising test I completed using linked in for one of my customers. In short, the results were very disappointing.
A Quick Review Of The Results From A Test Campaign From January 5th, 2011 to April 4th, 2011
Impressions = 20,443
Clicks = 0
New Customers = 0
Linkedin Advertising Results All Campaigns Combined
Impressions = 107,007
Clicks = 8
Click-Through-Rate (CTR) = 0.007% Cost Per Click = $12.27 New Customers = 0
Click-Through-Rate (CTR) = 0.007%
Cost Per Click = $12.27
New Customers = 0
I think the verdict for me is clear. Linkedin Ads is great for getting free impressions but does really nothing to generate new customers. Unless Linkedin changes the way their ad program works I do not see how it can be an effective tool to generate new customers as it is incredibly hard to generate clicks and to generate clicks you need to bid exorbitant prices compared to other online advertising alternatives (google, facebook etc). I think the big problem is that the ads are so small and have a very poor location at the very bottom of a page. The frustrating part is this site has so much potential to be a great marketing option because the degree of targeting you can do is unmatched. Linkedin Ads should be a great cost effective way to generate new business. I think Linkedin will eventually correct this to make Linkedin Ads more effective but until they do I don't see how anyone can be successful using them.
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I hope this article on Linkedin Advertising helpful for determining where you will focus your time, energy and resources when working to acquire new customers.