LinkedIn is a valuable resource for small business owners looking to connect and drive growth. So this Small Business Month, we’re taking a closer look at how the platform is helping small businesses, and we’ll also dive into recently released LinkedIn data on small businesses; the findings may surprise you. We’re pleased to be joined by Greg Willis, General Manager and Head of Digital Sales for LinkedIn, on today’s episode of the Small Business Show.
Greg Willis serves as the global VP of sales for LinkedIn Marketing Solutions, which leads in helping other B2B advertising companies and assists those other companies in delivering the right message to the right targeted audience on a safe and trusted platform. Willis explains, “We’re here to aid new and existing companies to help build campaigns and strategies that will eventually help them achieve their long-term growth objectives.
“Marketers need to focus solely on the number of focal points in their campaigns,” emphasizes Willis. Doing so will optimize their outreach to their targeted audience- implementing the right message at the right time. Willis adds, “We encourage our customers to implement a holistic strategy that includes organic and paid campaigns and investments.” Which will make it easier for customers to grow their communities, infuse creativity in campaigns, and differentiate themselves. In a recent study, LinkedIn discovered that the comprehensive structures and paid methods resulted in an Upwork of 14% advertising performance and full financial capitalization on the LinkedIn platform.
LinkedIn teamed up with YouGov to formally gauge how small business marketers are navigating their landscape. The results have found that small businesses are still prioritizing marketing investments. But According to Willis, “That’s a great thing.”
Here are the numbers:
- Only 5% of small businesses in the U.S. have cut their budgets for the next 12 months, which indicates they remain optimistic regarding the economic turmoils.
- In fact, 5% of buyers are actually in the market at any given time.
- Regarding spending- 30% of businesses allocate their budgets to nurturing future customers.
- 28% are allocating their budgets to expanding their customer base.
- 26% are allocating to increase its business revenue on market shares.
Overall, Willis outlines that over 70% of small businesses invest in advanced technology to finish their future growth, like market automation, artificial intelligence, and online communities.
"Marketers are learning to do more with less."
For example, 36% of companies implement AI for market strategy, 34% leverage automation, and 26% focus on ChatGPT.