According to the latest data from its parent company Microsoft, LinkedIn has surpassed $10 billion in annual revenue, setting a record-breaking user engagement since its acquisition in 2016.
With this, LinkedIn anticipates a rapid increase in active sessions and in-app engagement in the coming years. Consequently, its overall performance revenue is expected to increase with its recent innovations focusing on B2B solutions and user-friendliness.
As Microsoft noted, “LinkedIn revenue increased 46% (up 42% in constant currency) driven by Marketing Solutions growth of 97% (up 91% in constant currency).”
LinkedIn has increasingly become a more familiar platform to connect with brands and government agencies because of its highly professional environment.
In addition, as the US economy is slowly recovering from the effects of the COVID-19 pandemic, with vaccine rollout now across the nation, more brands see LinkedIn as an opportunity to connect with lawmakers through its ad tools, amplifying Marketing Solutions’ performance.
Moreover, as social interaction restrictions during the pandemic are stricter than ever before, more people are turning to LinkedIn’s in-app interactions to connect with businesses and encourage virtual employee-employer engagements.
What’s more, LinkedIn’s effort on businesses to connect with relevant brands and expand its reach capacity has been paying off based on the results.
Microsoft CEO Satya Nadella highlighted that the excellent execution of its in-app features and an established differentiated approach in rapidly growing markets to meet customers’ needs mainly contributed to LinkedIn growth in numbers and reliability.
To sum up, Microsoft’s revenue drastically increased by 21% at the end of Q3 2021 due to LinkedIn’s success. This gives way to its whopping increase of $46.2 billion, adding up to 18% to Microsoft’s overall revenue.
Impact on eCommerce
While the numbers above are evidence of LinkedIn’s success, these are also numbers to benchmark on from a business, brand, and marketer’s standpoint. In line with that, it is expected that more will switch to the app to take advantage of its benefits.
These days, more businesses are becoming accustomed to transact with brands and talent acquisition virtually. Moreover, in this COVID-19 pandemic, more and more businesses are becoming reliant on digital connectivity. This, in turn, boosts the overall appeal of the eCommerce sector, and it only signifies the critical role of social media platforms, especially LinkedIn, in the success of one’s business or brand.
To date, LinkedIn has 774 million active users, a drastic increase from 430 million users since Microsoft acquired it. With over 300 million active monthly users, setting up a professional account — whether personal or business account — can never go wrong.
From a brand’s point of view, one thing to note or consider is that LinkedIn users are in the app to look for professional connections or brands doing B2B transactions. However, this platform has also developed various ad tools to expand a brand’s presence across search engines.
To successfully overpower competitors, a brand must carefully consider what type of content to post on this platform. According to LinkedIn, most of its users are 20 times more likely to share a video on the platform than any other type of post. Meaning, posting video campaigns on LinkedIn will likely reach more intended audiences than other social media platforms.
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