According to the latest information, the LinkedIn platform is working on its own “lookalike audiences” function, which will allow advertisers to target users with profiles similar to their current customers.
Advertising on LinkedIn – 2019 forecasts
Although LinkedIn in terms of updates may seem to users somewhat delayed from such platforms as Facebook or Twitter – there’s no denying that in recent times LI introduced many new features, that have attracted the attention of companies and advertisers. The result of these actions can be seen in the Digiday report, which shows that advertisers plan to increase their expenses on paid platforms this year, even if that means transferring their budget from Facebook or Twitter.
New features in LinkedIn campaign manager
To meet the expectations of advertisers, LinkedIn introduced many new advertising formats, such as sponsored videos, carousel ads or recently Interest Targeting – an option in the Campaign Manager panel, which allows targeting ads based on the behavior of users on the site (publications, content with which the person is interacting, etc.). The next step is Lookalike Audiences – profiling ads for people similar to the current customers of a given brand.
Lookalike Audiences – how will it work?
Thanks to the new function, advertising targeting would be based on professional experience, qualifications or position in the company. Facebook is currently using similar mechanisms, but it is based on much less detailed information about the user. Considering the data that LinkedIn is aggregating, the potential of this tool can be huge. Introducing Lookalike Audiences on LinkedIn may be one of the most important events of 2019 in effective advertising targeting.
Until now, the factor that often inhibited companies from introducing paid campaigns into LinkedIn brand profiles was often high costs of content promotion (compared to Facebook or Instagram). Introduction Lookalike Audiences can embolden brands to invest in this platform, because it looks like the ads set using this function will go exactly to the target group and bring a high rate of return.