LinkedIn today added conversion tracking to its Campaign Manager tool in a move that aims to make it easier to track results of advertising campaigns run on the professional social network.
Users of the year-old Campaign Manager tool will be able to better understand the business impact of its two components: sponsored content and text ads.
Officials at Mountain View, Calif.-based LinkedIn envision advertisers using conversion tracking to improve audience targeting, campaign design and budget spend among other factors.
"Conversion tracking provides advertisers with a unified view of campaign performance so they can easily see what’s working and what’s not in their campaigns," Russell Glass, VP of product for LinkedIn Marketing Solutions, told CMSWire.
LinkedIn has three product lines — Talent Solutions, Marketing Solutions and Premium Subs, which includes Sales Solutions. Marketing solutions accounted for $581 million in revenue in 2015, an increase of 28 percent from the year before. LinkedIn has visions of that number nearly doubling to $1 billion by 2017.
Tracking Clicks, Social Engagements
Glass said marketers will be able to track clicks and social engagements, leads and ROI to "enable intelligent optimizations to improve conversion performance."
- "It measures conversion volume by audience segment — industry, job function, seniority, etc. — all within Campaign Manager, our ad management tool which allows advertisers to optimize their targeting of professional audiences. They can leverage LinkedIn’s professional data in their campaign targeting and conversion analytics, which is valuable to B2B marketers looking to engage a specific professional persona. No other platform offers demographic conversion measurement with this level of quality or accuracy," he continued.
Conversion tracking will also allow marketers to:
- Access the demographic information (e.g. seniority, industry, job function, company size) of LinkedIn members who have viewed a piece of Sponsored Content or Text Ads
- Gain visibility into number of leads, sign-ups, content downloads, purchases, etc. that they get from sponsored content and text ads campaigns
- Track conversions from desktop and mobile, including whether a member has clicked on or even just viewed an ad before converting
Eliminates Third-Party Apps
What issue does this solution resolve?
"The past experience required that advertisers measure their conversions by reconciling performance data across third-party tools," Glass said. "Now advertisers save time because they’re able to monitor conversions, manage campaigns and measure ad engagement within one tool."
Marketers had a "partial view" of the conversion volume prior to today's release.
Priyank Savla, digital marketing manager at NetBrain Technologies, said in statement that before LinkedIn conversion tracking, "we had to match data from our marketing automation software and CRM to see if we actually had any conversions."
Conversion tracking is available now for sponsored content and text ads at no additional cost to those with a LinkedIn advertising account, whether self-service or working with a LinkedIn representative.
In the coming months, Glass said LinkedIn plans to make conversion tracking available for sponsored inmail, and then for dynamic ads.
"Our goal," he said, "is to have it available for all of our ads products."