Top 5 Reasons LinkedIn is Vital for Business

Investopedia defines the network effect as “a phenomenon whereby increased numbers of people or participants improve the value of a good or service.” It sounds borderline “well, duh”, but it’s not just steady improvement - it’s exponential, it’s compounded.

eBay is a great early example. Part 1 is more people joining the platform. Part 2 is, well, an explosion. Businesses sell more, and they get more 5 star reviews, and sell even more, and the uptick in customers spreads their word even more, then both sellers and the platform grow more reputable, and the ripple continues spreading.

Social networks also illustrate this (just check out Meta’s stock chart since going public in 2012).

And king of them all for businesses, is LinkedIn. I mean, the name alone speaks to the value of connection much more so than any other platform.

LinkedIn isn’t an option. It’s a requirement if you want any sort of meaningful success for your business. Here are five reasons why that span social, economic, and staffing reasons among others.

Professional Networking 

“It’s now what you know, it’s who you know”. 

Look, it’s not totally fair. In fact it kind of stinks from time to time. But so does beating your head all day trying to reach clients or eating saucy Italian food in a white shirt. It’s life.

LinkedIn boasts the largest professional networking platform with over 750 million users across 200+ countries (that’s nearly 20% of all adults). It’s the surefire way to build connections because it’s the preeminent business happy hour mixer…in a 24-hour digital setting instead of 4-6 PM in a crummy bar with watered-down drinks. 

In a word, it’s efficiency. It has improved professional networking the same way dating apps have improved relationships. Except, it’s arguably even more so, due to much less sophisticated competition. 

Brand Awareness 

LinkedIn let’s you show peers, prospective hires, and your industry not just what you do, but how you do it. A business’ values and mission are as important as its service or product, and LinkedIn is a terrific way to show them off.

By regularly posting updates, sharing relevant content, and engaging with other users, businesses can establish themselves as thought leaders in their industry and gain a reputation for expertise and authority. Channeling your brand is as good of a reinforcement as a business could want, and the popularity of LinkedIn almost ensures you can remain top-of-mind if your content warrants it.

Recruitment & Hiring 

Here’s an arena that LinkedIn deliberately prioritized as a service, and as a result, they’ve changed hiring mostly for the better.

A significant portion of LinkedIn job openings allow applicants to “Easy Apply” with their profiles. This saves both the company and the applicant time, but it also adds an element of credibility to each, and for each (a company could very well want someone who’s already showing the slight initiative to at least) be on LinkedIn, and same goes for the prospective hire).

Additionally, there’s no better hub for businesses to perform due diligence on job openings, and the people to fill them. Whether it’s analyzing what competitors are doing, or compiling credentials of your top 10 candidates, LinkedIn is a must in the recruitment toolkit. 

Marketing and Advertising

With its abundance of advertising options, LinkedIn enables businesses to target their preferred audience according to various demographics such as job title, industry, and location. Key word “target”, because it’s a huge x-factor.

This is particularly advantageous for B2B companies that aim to engage with professionals and decision-makers within their intended market. By utilizing LinkedIn's advertising features, businesses can optimize their outreach efforts and maximize their chances of connecting with potential customers who are most likely to be interested in their products or services.

Sales 

The comparison between LinkedIn Sales Navigator and a carpenter's hammer is apt. Just as a hammer is an essential tool for a carpenter, Sales Navigator is a vital resource for sales-oriented businesses. This specialized tool empowers sales professionals with its advanced search options, lead recommendations, and other features, which enable them to identify, connect with, and cultivate potential customers more effectively. By leveraging the power of Sales Navigator, businesses can boost their sales efforts and achieve their revenue goals. It's a must-have tool for any sales team looking to stay ahead of the competition in today's highly competitive marketplace.

Best Way to Advertise is to Start on the Right Platforms

The network effect is in full effect on LinkedIn, and your business missing out on it is certain to limit your success.

LinkedIn is crucial because it provides businesses a unique opportunity to connect with other professionals, build a compelling brand, and grow business in a professional setting. Not to mention staffing your operation with the ideal people. Don’t get left out of the winner’s circle in your industry, get LinkedIn.

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