As LinkedIn digs deeper into the marketing and advertising world, the professional social network has launched new operations to service the B2B market.
The company revealed Thursday (Feb. 19) its new B2B Lead Accelerator tool and an expansion of its existing display ad network. In an announcement on LinkedIn, the company’s Head of Products Russell Glass says the new B2B marketing tool aims to simplify the purchasing process and gain B2B players a stronger portal to reach perspective clients and purchases.
Lead Accelerator offers B2B marketers a new way to reach new customers by guiding those customers to companies that meet their buying needs as they progress through the online purchasing process. Marketers can gain visibility on LinkedIn as well as other publisher sites across the Internet.
The service was launched after integrating with the Bizo Multi-Channel Nurturing product. LinkedIn acquired Bizo last August.
The launch of LinkedIn Lead Accelerator, Glass said, is a response to the changing landscape of B2B procurement practices. He cited Forrester Research finding that as much as 90 percent of B2B buyers complete a purchase before ever speaking with a salesperson, making it harder than ever for marketers to gain traction.
LinkedIn also notes that nearly all prospective buyers never give their email address to a marketer’s website, let alone open an email from the marketer. “Bottom line,” Linkedin says, “most marketers are converting less than 1 percent of all possible leads.”
According to the firm, Samsung and Lenovo are two of more than 100 pilot customers so far; with Lead Accelerator, Lenovo has decreased its cost-per-lead by 60 percent, LinkedIn says, with other pilot customers reporting similar successes in cost reduction and higher conversation rates.
With the positive pilot results, LinkedIn has rolled out the service to the majority of its global markets as of Thursday.