As your small business grows, you need to make decisions about what you’ll do yourself, what roles you’ll hire for, and what tasks you’ll outsource. If you’re not great with people, for example, you’ll probably want to hire an operations manager. If you’re not a software development expert, you may want to farm out custom software design.
Business development, on the other hand, is something founders and owners usually do, despite that it’s not everyone’s favorite task. If you’re among those who struggle with things like networking, prospect research, and cold calling, LinkedIn can make those tasks easier.
You may have a profile on LinkedIn, but are you using it to its full potential? This professional platform is one of the most overlooked tools for business development and online networking. Here are a few ways it can help your business grow.
Profile
The first thing you’ll want to do on LinkedIn is to build two profiles: one for you and one for your company. A LinkedIn profile is like a resume. There are sections for things like your work experience and education, among other important information. You have the option to be very detailed in these sections and you should include as much data as possible. Doing so helps readers understand your expertise and creates keywords that help potential customers and clients find you.
Next, create a profile for your business. On LinkedIn, this is called a Page. It should explain what you do, where you are located, and what you have to offer. To attract connections and followers, update both profiles with relevant news and forwarded information from others. Keep in mind that the more you post, the more likely you are to end up in searches. But don’t over-post since doing so can annoy those you’re connected to.
Connections
Don’t think of LinkedIn as social media. Instead, think of it as online networking. The difference is the strategy you use in connecting with people and what you do once you establish those connections. To use LinkedIn as a sales funnel, follow these steps:
- Seek out users who are likely to be good prospects or good referral partners for you.
- When others invite you to connect, do so, especially if the person inviting you has many connections.
- When you get a new connection, take the time to look at their profile and send a message to say hello.
- If a new connection is a potential customer or client, tell them what you have to offer and ask if you might set up a meeting or phone call.
- Follow up and pursue your usual process from there.
Groups
Another way you can kick-start your LinkedIn marketing and get attention on LinkedIn is to participate in groups. Again, look for participants that are likely to be potential customers or clients. Freely offer your expertise so fellow group members see you as a thought leader. To stand out even more, start your own LinkedIn group for your profession or field.
There are about two million active LinkedIn groups and you can join up to 100 of them at a time. Join as many as you like but don’t spread your participation too thin. A better approach is being very active in a few groups that offer quality networking opportunities. You might have to be in a group for a while before deciding it’s worth your time.
Ads
To be more targeted about finding customers or clients on LinkedIn, consider placing an ad. As with Facebook, placing an ad on LinkedIn allows you to be very specific about who you want to reach. For businesses, you can identify industry, company size, company name, and location. For individuals, you can identify job title, function, seniority, years of experience, skills, interests, and LinkedIn groups.
LinkedIn ads are expensive, so you should plan yours carefully. A successful LinkedIn ad should:
- Be simple and straightforward
- Address business professionals
- Provide an easy-to-understand call to action
- Include an inviting image
Paid Version
LinkedIn has a paid subscription option called Premium. It’s pricey, up to $120 per month, so carefully consider whether the price is worth it for you. Before signing up, use the standard LinkedIn functionality for a few weeks or months and ask yourself if you need the additional benefits. Those benefits include:
- Additional InMail messages, which are messages that can be sent to anyone on LinkedIn, even if they’re not a connection
- Additional details about people who view your profile
- Tools to help your profile stand out
- Advanced search filters and unlimited searches
- Additional company data
- Lead-building tools
- Recommendations and insights on leads
- Others, depending on the tier you choose
In Summary
LinkedIn is a powerful networking and business development tool that’s often overlooked. You can use it to create a strong online presence, trade best practices with peers, find new prospects, and learn what’s happening in your field. If you haven’t used LinkedIn or have used it just to keep up with professional associates, try some of the tips here to beef up your LinkedIn savvy and build your business.
