After a stellar 2016, LinkedIn is looking to boost its ad spend growth even more in the year ahead.
A 2016 year end statistical round-up from CustomerThink, states that 94 per cent of B2B marketers use LinkedIn in some capacity, and 89 per cent find LinkedIn the most effective platform for their needs. LinkedIn has now partnered with analytics start-up DataSift in order to make more of its user data available to advertisers, and ultimately bring in more advertising revenue.
DataSift will gather and structure data from LinkedIn’s 467 million users and draw insights on how users engage with content.
“Partnering with DataSift will enable LinkedIn to provide access to better data-driven insights so that marketers and agencies can improve engagement with their target audiences and deliver positive ROI on LinkedIn — all in a way that respects member privacy,” says LinkedIn’s VP of Product, Russell Glass.
By incorporating its new product PYLON into LinkedIn’s existing Engagement Insights tool, DataSift will analyse publicly posted content in order to identify key audience profiles and interest trends.
While LinkedIn arguably has the internal capability to harvest these insights, TechCrunch reporter Ingrid Lunden suggests that partnering with a third party is “seen as a more sound and impartial approach.” From DataSift’s point of view, this collaboration is also expedient, as LinkedIn is the most-requested network among their customers.
According to a recent report on the state of social advertising, LinkedIn saw year-on-year ad spend growth of 130 per cent in 2016, making it the second highest growing platform after Instagram. And it’s believed that LinkedIn’s recent acquisition by Microsoft can only boost its ad revenue chances in 2017.