Six Steps to Measure LinkedIn Ad Performance

So you've set up your first LinkedIn ad campaign. Or maybe you've been running LinkedIn ads for a while, but with lackluster results. While other aspects of your digital marketing might be "set it and forget it" thanks to automation, LinkedIn ads require a little more ongoing attention. Following these six steps will help you maximize the impact of LinkedIn advertising, without using any third-party tools. 

Step #1: Identify Your Goals and Key Metrics

You can’t start measuring your ad performance until you know what goals you want to achieve and what metrics you need to measure for these goals. The vast majority of ad campaigns on LinkedIn will have at least one of these goals:

  • Building brand awareness
  • Increasing consideration
  • Driving leads and conversions

Each of these goals correlates with specific metrics:

  • Building brand awareness: Impressions, clicks, reactions, click-through rates
  • Increasing consideration: Clicks, click-through rates, website clicks
  • Driving leads and conversions: Conversion rate, cost per conversion, cost per lead

Of course, these goals and metrics aren’t exhaustive, but they’re a great place to start for measuring ad performance. 

LinkedIn_Campaign_Metrics

You can also use LinkedIn’s Campaign Manager to help you align your key metrics with your goals. Campaign Manager helps you connect your metrics to your goals and does a lot of the analysis for you, making your job easier. 

Step #2: Set up Insight Tags

Measuring website conversions is a way of seeing whether your ads are effectively driving actions from people who see them. The most valuable actions aren’t just clicks, but downloads, purchases, sign-ups, etc.

Measuring these website conversions is a way of seeing whether your ads are effectively driving the desired actions from people who see them. To measure your ads’ website conversions and automate optimization for your ad campaigns, you'll need to set up Insight Tags These are snippets of code that you place on your website to track people's behavior on your website after they click on your LinkedIn ad. 

Conversion tracking is a metric that gives you in-depth knowledge of your ads’ performance. The good thing about conversion tracking is that it goes beyond LinkedIn. Tracking conversions on LinkedIn is valuable for your ads outside of LinkedIn as well. 

Step #3: Use Lead Generation Forms

If your ultimate goal is to convert, lead generation (sometimes shortened to "lead gen" forms, are a critical tool. LinkedIn offers pre-filled lead gen forms for message ads and sponsored content. These native lead gen forms are used for three primary purposes:

  • Generating high-quality leads at scale, by using LinkedIn profile data
  • Proving the ROI of your lead generation campaigns, by tracking costs per lead and lead numbers
  • Accessing and managing leads easily, by giving your the option to download a list of your leads through Campaign Manager.

The good thing about LinkedIn lead gen forms is that they’re a tool that is useful for both marketers and their audience. Because LinkedIn users will fill out these lead gen forms directly via LinkedIn, it's a much more seamless experience. It’s very convenient and feels less intrusive than other methods. 

If you're using a different ad format, all isn't lost! You can also build your own lead gen forms on a website landing page (We highly recommend HubSpot for building these landing pages and the corresponding automated workflows😉) 

Step 4: Do Weekly Reviews

Once your ads start running, you want to get into the habit of making weekly reviews of your performance. Keeping track of how your metrics evolve really helps you figure out what you’re doing right and what’s going wrong with your campaign. It also helps you figure out whether all the metrics you’ve chosen to track are useful to you or not.

The focus of weekly reviews should be to figure out what small changes to make. Each week, identify areas of potential improvement, and make one corresponding change to the ad.  Then you can track whether the change improves performance and move forward accordingly. Over time, by doing regular weekly analyses, you’ll end up with a razor-sharp ad campaign that hits all your objectives efficiently. LinkedIn offers a weekly campaign optimization checklist to help guide you through your reviews. 

Step $5: Use Campaign Demographics

LinkedIn offers tools to track and analyze the demographics of your ad campaigns, and it’s a feature you definitely want to take full advantage of. The tool is part of your Campaign Manager, and it is used to see which group or audiences respond to your ads. It helps you sharpen your target audience and maximize your cost per impression through targeted advertising. 

Making use of demographics is key because it’s best to show the right people a smaller number of ads than showing a lot of people a lot of ads. High impressions aren’t always what you want with your ad campaign. It’s useful, but it’s not everything. Impressions without interactions, clicks, or conversions are not something you should be aiming for. 

LinkedIn’s Campaign Demographics allows you to sort audiences based on location, job title, company size, industry, and the list goes on. 

Step #6: Use Campaign Insights

In your Campaign Manager, you can access the campaign insights page to determine how you can improve your bids and budgets. The main information you’ll have access to is:

  • Your total budget: The total amount you’ve spent on your campaign up to now.
  • Your daily budget: The average amount you spend on your campaign per day
  • Your bid: The amount LinkedIn recommends you spend to keep your campaign competitive.

Campaign Insights can be particularly useful if you’re running ads that have variable pricing, like cost per click ads. 

 

Looking for insight and guidance on your LinkedIn ad campaigns?
We're happy to help! 

Contact One of our Advertisement Consultants

 

Takin
Takin
In addition to having a passion for writing, Toronto-based Takin is working on his academic career in Philosophy. He can also play the piano and sing in French.

 

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