Advertising is an inseparable part of every successful business as people, unconsciously, tend to go for products of which they have heard more. Advertising on TV channels is considerably high these days. As a result, many businesses have turned to social networking sites to advertise their products. This has removed one obstacle but presented another. With so many platforms out there choosing the right one for your business is no easy job. Much has been said about the advantages and disadvantages of advertising on each platform, making the choice even more complicated. Two such platforms are Linkedin and Facebook. This article compares the two with respect to the advertising potential they each have. What follows is an elaboration on four important factors you should consider when deciding which platform to choose.
The intention beyond advertising
Currently, Facebook has over 2.8 billion users, with around 2 billion active users. On the other hand, LinkedIn has over 660 million users, and approximately 330 million of them use Linkedin on a monthly basis. It might give some the impression that Facebook is a better option for advertising as their ads get more exposure there. However, before making a final decision, you should first consider your own purpose for advertising. You either want to introduce your brand to a larger community and gain more attention, or you want to generate leads and get more clients. Those who have recently started a new business should first focus on gaining more followers and spreading their brand awareness. If this is the case with you, Facebook seems a better option. Those who have been in the same business for several years are probably not concerned with brand awareness and wish to get more clients. For such businesses, Linkedin seems like a wiser choice.
Regarding users, there are two important things you should keep in mind before choosing one platform over the other. To have an active account on these platforms, every user should provide some information such as their name, age, gender, and so forth. What distinguishes Linkedin from Facebook is that Linkedin is more detailed regarding such information. Users are required to provide information regarding their job title, location, skills, interests, education, academic degree, etc. These are information that employees look for. Providing such information on Linkedin is somehow obligatory while Facebook is not that strict in this regard. Therefore, finding your target community is much easier on Linkedin than it is on Facebook.
Moreover, Facebook is less business-oriented than Linkedin. Millions of users spend hours on Facebook chatting with their friends, watching amusing clips and playing games. Linked users are mainly concerned with issues related to their education or business. This is not to say that Facebook is just a playground for amusement. It is just that the mindset of users on Facebook is not exactly known to the business owners. Finding the right people for your ads is possible on both platforms, but it is less so on Facebook.
The nature of your business
Consider a multi-branch car company that manufactures thousands of cars every year. Such a company would waste tons of time if its managers decided to find buyers one by one. Instead, they connect to other businesses that are one way or another involved in the car industry. This way, they can introduce their products to people already concerned with car-related issues. This trend is known as B2B (business to business) transaction, connecting two businesses that are highly related and benefit each other in certain ways. For smaller businesses, a better option is B2C (business to customer) transaction which connects businesses to actual customers directly. While both Facebook and Linkedin have the potential for both types of transactions, Facebook seems to generate better results for B2C transactions. Small businesses do not usually need a large number of consumers. As Facebook exposes their products to a considerably large number of people, there are higher chances that enough consumers are attracted to those products. Linkedin, however, is more suitable for B2B transactions as it easily allows businesses to connect and, for that matter, reach out to customers their counterpart businesses have.
Facebook charges $0.97 to $1.97 per click. Linkedin charges something between $5.26 and $6. 59 per click. Considering the clicks you receive monthly, you can see that advertising on Facebook is far cheaper than advertising on Linkedin. However, Linkedin allows you to target the right audience for your ads and consequently find your potential customers. As previously mentioned, not all Facebook users are after business inquiries. This means that many of those who view your ad on Facebook will probably not click on it as it is not of their interest. With respect to Linkedin users, you can expect to receive more clients as you can specify the right audience for your ad and then tell Linkedin to show your ad to those individuals only. Therefore, you’ll end up with a higher conversion rate and quality lead. Facebook also has a retargeting strategy that allows business owners to specify the right audience for their ads. Business owners can list the users who have clicked on their ads or have already purchased their products and tell Facebook to show their ads to similar users. However, it is a bit time-consuming and less inclusive. All in all, regarding advertising costs, Facebook is cheaper than Linkedin, but it does not generate the short-term results as Linkedin.
As a business owner, you might consider advertising your product on either Facebook or Linkedin. These platforms share some features but differ on others. This article discussed four important factors that help you decide which one is a more suitable platform for your business. Following the tips provided in this article, you’ll make the right decision and get your business to the next level.