LinkedIn Lead Generation Delivers Leads At A Consistent Conversion Rate of 5% – 10%
I'm going to pre-empt this by saying that yes, every profile varies, and I know, every campaign differs. However it's useful to know what you can expect when considering LinkedIn Lead Generation Campaigns as a marketing activity for the business.
On average for every post you write out and publish on your profile, between 5% and 10% of your network (your connections) will actually see it. The algorithm works whereby not everyone sees everything you put out. If they did, our feeds would be constantly cluttered. The algorithm takes into account a whole plethora of factors when deciding what content to show you, and in what order. Ever noticed some people's content always shows up first, followed by a 'promoted/sponsored' ad from a company, followed by another familiar face, but other people's content you never seem to see? That's the algorithm at play.
There are various techniques you can do to increase your chances of showing in the first scroll of someone's feed - for example using video, encouraging more likes and comments on a post, and using hashtags.
But for now, let's say you have 2,500 connections. On average each time you post, between 125 and 250 people will actually see it.
The reason people use LinkedIn Lead Generation experts like us is to use their knowledge and experience of the algorithm to influence and increase this number and therefore increase their visibility and awareness.
If your Marketer is putting in 1 -2 hours of outbound prospecting time per day (which is a pretty common average), I would expect to see a minimum of 150 new connections per month. 3,000 is the magic number of connections you need initially to start showing up consistently in the 'more suggestions for you' section of LinkedIn and encouraging people to invite you to connect as well as inviting them to connect (using both inbound and outbound marketing principles here).
Again, 5% - 10% of those will convert to prospects (in this case that means saying 'yes' from the outbound message e.g. to book a sales call) meaning 7 - 15 leads.
What Numbers Do You Need?
For LinkedIn Lead Generation to make commercial sense and generate ROI for your monthly investment in the service, you need to weigh up a few things:
Sales Team Conversion Rates - how many leads can your team currently convert into paying customers? If this is on par with average, it'll be around 30%. So out of the 7 - 15 leads created, 2 - 4 will turn into paying customers.
Sales Team Effectiveness - how quickly can your sales team pick up and respond to new leads? One of the most common reasons sales leads don't turn into paying customers is because they've been left too long and have gone cold. You need to be sure your sales team can pick up a lead when it's been sent over by your LinkedIn Lead Generation team fast, and make contact ASAP to have the greatest chance of success.
Lifetime Value of a Typical Client - The number and monetary value of converted paying leads coming in should always be more than what you are paying for the LinkedIn Lead Generation service. If your average client spends £5,000 over let's say a year with you, then you're LTV is £5,000. If you campaign manager is bringing in 7 - 15 new leads per month, with your sales team converting 2 - 4 of those, that's equal to £10,000 - £20,000 of revenue from the efforts. Considering a quality LinkedIn Lead Generation service is usually in the region of £1,000 per month, this is exceptional value for money! A 900% - 1900% ROI!
To talk through how LinkedIn Lead Generation Campaign can work for your business, DM Me or email firstname.lastname@example.org