The LinkedIn Marketing API is here.
It’s official, LinkedIn has released their marketing (advertising) API. Say what and why do I care? Let me explain, first LinkedIn is a “professional” social network and a darling of Wall Street with a value of $10 billion and a PE ration of over 600. Up until now, if you wanted to advertise on LinkedIn, you had to log on and use the clunky interface. With the addition of an ad API, 3rd party providers can now get “in the game” and run marketing campaigns.
It’s not all good news yet as the players that have been given advanced access are focused on larger brands. For instance, Bizo, which has had access and some excellent success is really for companies with a $6K to $10K and above monthly budget. That’s way out of reach for a small or mid-sized business or most non-profits. However, this will change and the beauty of an API is that almost anyone can use it. This article today on AdWeek explains in layperson terms how an API makes things easy. Up until this release, advertising on LinkedIn was like making pancakes from scratch. Now with the API, it’s like buying Mrs. Butterworth’s pancake mix and just adding eggs and water.
What is also exciting is that Bizo has reported that average cost of a lead is between $50 and $150 each and that one business has reported lowering their cost per lead by 60%. Great you say, what do I do with this information. I recommend you read this blog for updates, subscribe to my monthly newsletter and wait until some smaller (read, lower priced) players get into the LinkedIn ad API. Then we sit down and look at your lead generation process and see if a marketing campaign on LinkedIn will make you a happy camper in 2013.