How to analyze your campaigns’ performance on LinkedIn ads?

13 Aug, 2022

1 min

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How do you know that your campaigns perform well on LinkedIn ads if you don’t analyze them? Better: how do you know that your stepmother likes your present?

That’s the problem. You never know because you take the fact that she smiles for granted… And between us, it was a fake smile. What if you start digging a bit deeper? Analyzing each of her moves, from talking to acting, will help you know if she genuinely likes you or not. 
You feel the analogy with LinkedIn ads coming? Analyzing your campaigns’ performance is way easier than scanning your stepmother’s reactions. It’s all about identifying the good KPIs and following them with the best conversion trackers. Let’s master your LinkedIn ads campaigns’ analysis together. 

What is LinkedIn Campaign Manager?

LinkedIn Campaign Manager is the LinkedIn advertising platform that allows you to launch efficient campaigns on the network to stick to your objectives. 

When thinking about creating a new campaign, you have to choose whether your want to boost: 

  • Your brand awareness (awareness objective)
  • Your website visits (consideration objective)
  • Your engagement rates (consideration objective)
  • Your video views (consideration objective)
  • Your lead generation (conversion objective)
  • Your website conversions (conversion objective)
  • Your job applicants (conversion objective)

You’ve understood it, right? There’s an objective tailored for each of your campaigns. Why should you define your objective clearly? It is essential to be able to identify the KPIs that correspond to your goals and to follow them on the platform.

Identify your KPIs according to your goals

#1 - Increase your brand awareness and your traffic

You may wonder why we choose to broach LinkedIn Ads and not Facebook Ads… It’s quite simple: on LinkedIn, 4 of 5 members  drive business decisions. Launching campaigns on LinkedIn can have a tremendous impact on your results. 
With more than 756 million members, it can be the perfect platform to increase your brand notoriety to business decision-makers. You can favor LinkedIn if you're a B2B platform seeking to reach a smaller but more qualified audience. Still wonder whether you should advertise on LinkedIn or Facebook? Find your answers in our article.

How to keep track of your brand awareness objective? You should focus on: impressions, clicks and CTR, even though there are many more you can track: 

  • Impressions: this metric will show you how many targeted users have seen your ads. On LinkedIn Ads, impressions will show how many times each update was viewed for at least 300 milliseconds with at least 50% in view on the screen.
  • Clicks: it helps you analyze how people show interest in your content by counting the number of clicks on your content, logo or company name (this metric doesn’t include shares, reactions and comments).
  • Click through rate: this metric measures the number of clicks you receive divided by the number of impressions. 

Here is a view of conversion evolution on LinkedIn Campaign manager platform: 

linkedin-ads

Source: https://www.linkedin.com/help/linkedin/answer/a420536

#2 - Generate leads & conversions

LinkedIn users have 2x the buying power of the average web audience, which makes this platform the place-to-be for B2B lead generation, rated by marketers
Here is what your KPIs tracking can look like on LinkedIn campaign manager platform: 

linkedin-ads

Source: https://www.linkedin.com/help/linkedin/answer/a420536

To measure your lead generation and conversion efficiency, keep track of the following KPI:

  • Conversion rate: to give you a point of reference, the average conversion rate on LinkedIn is 6.1% in the US (but it varies depending on your country and industry). Also note that conversion rates on LinkedIn are 3x the other advertising platforms, something, we bet, should convince everyone. 
  • Qualified leads. To make things clear, there are different types of qualified leads: Marketing Qualified Leads (those who are qualified to receive your marketing communication), Sales Qualified Leads (those who have a strong interest in buying your products) but also: Conversion Qualified Leads (those who have already converted on your pages).
  • Cost per lead: the average CPL on LinkedIn ranges from $15 to $350, depending on your audience.

Time to set up your trackers! 

Record key metrics

From your very first advertising campaign to your most optimized one, you should always keep track of your campaigns’ results. It’s the only way to improve your campaigns’ performance. Some functionalities exist on LinkedIn to better your key metrics recording, like :

  • Conversion tracking: it’s an analytical function that gathers insights such as post-click or view-through conversions of your LinkedIn campaigns to go further than the traditional KPIs. Know more

  • Lead Gen forms: these forms help you follow your campaign’s analytics more efficiently, thanks to pre-filled contact bases. Know more.

Scan the insights

Analyze your targeting and launch strategies to optimize your approach and find the most efficient method to boost your business visibility and lead generation on LinkedIn.  Refer to LinkedIn benchmarks to compare your performance with your industry’s or compare it to your own performance on other platforms: a good way to stay competitive!

Optimize

The platform will give you recommendations for your business. Don’t hesitate to run A/B testings on LinkedIn Ads to better your strategy. Discover the best strategies to conduct A/B testing on this LinkedIn podcast

Track your performance in a
high-performance platform called LinkedIn

Whether your objectives are about awareness, consideration or conversion, whether you want to increase your brand awareness or generate more leads, the KPIs to track are on LinkedIn Campaign Manager! 
This advertising platform helps you stick to your objectives and keep track of your KPIs in a straightforward way. If you’re still lost in the middle of all this data, don’t hesitate to call on our teams! 

By Emma Jeanpierre

17 Feb, 2022