What should I charge to post info ads to my 10k connections on Linkedin?
I have nearly 10k connections on Linkedin which, other than word of mouth, happens to be the only advertising we do. We have doubled our clientele each year since I've been here by me writing articles and posting little ads of interest. Since it has worked so well, I'm thinking of doing it for other companies as well more as an information piece or recommendation from me. What should I charge for such a service? The are mostly insurance agents. I would post a max of 1 per week per company.
Depends on what the value of the ROI your client is expecting in return.
Are your clients expecting a certain amount of leads from that 10K send?
and they would sell to a % of those leads? Say 1 in 5?
What is the end value to your client?
Is it a one off package or a year long service?
Would you not run the risk of upsetting your contacts on LinkedIn and eventually lessen the power of your offerings?
LinkedIn is a poor media to market to. Consider email marketing instead?!
Me thinks you have a good idea, but it's on thin ice, and the water below is very cold.
To some degree, because you maybe issuing out recommendations rather that clearly stating that they are in fact advertisements,
one of the things you are doing is putting your own personal reputation on the line and out there.
Advertising is "take it or leave it" there is no personal attachment.
Recommendations are the opposite, They are based on what you have seen, know and experienced.
There is a greater duty of care, If what you say is not so, it will come back to bite you. People may just post comments relating to their experience, you only need a number of those and you will start to loose credibility.
That's apart from the other issues which others have raised.
Are these recommendations or advertorials? If I was following you on Linkedin and you recommended something, I would not expect that to be because you were paid. If I felt you were passing off ads as recommendations, I wouldn't be very happy, so be sure to badge them properly.
Charging to access or promote to your LinkdIn contacts is a serious breach of LI's ToS and you will lose your account.
Hi Scott -
To clarify, are you saying you would run ad campaigns for your clients, or are you thinking of writing/posting articles on their behalf which subliminally advertise their services? Also, there are Sponsored Updates which are a type of ad. Just trying to get a handle on which types of LinkedIn ads you might run. I am not sure what 'little ads of interest' refers to.
I disagree with the respondent who said conversions are hard to track. They are not, within LinkedIn's fairly closed system.
You have two options:
1) Charge for the time - Work out your average time per hour for 1 post per week per company and charge a cost for the total time.
2) Charge based on avg. sales value - If a new insurance client gained is worth X and you can help them break even or gain more leads from one conversion, then set the cost of 1 sale as your price.
Personally I'd just charge for the time, because conversions are hard to track, and may take longish time to convert.
Hope that makes sense,
MD & Owner of Odyssey New Media (odysseynewmedia.com), a leading UK digital marketing agency.
If you know the annual value of just one new account for your advertiser, charge that $ value. Let your ad market know that as in "I have xxx number of folks in my network that are all potential prospects for you. All it takes is one new account and you have this cost covered".