LinkedIn’s ad platform is a powerful tool for wealth managers – RIAs, fund managers, private equity firms – to promote your investment strategy, philosophy, and investment category.
Are you using ads on LinkedIn to promote your firm? If not, here’s how to set up your own LinkedIn ad campaign.
1. Create a New Ad Campaign
Name your campaign – it’s the first think LinkedIn asks you to do. Your prospects don’t see the campaign name; only you do. For instance, if your campaign is about market neutral investing, includes your firm logo as a picture, and asks prospects to download a free eBook as the call to action, you can name your campaign “Market Neutral Investing Logo eBook 1.”
2. Select Your Language
You can choose what language you want your ad to be in. English, we presume, but you can write your ads in Spanish and French, too, for example.
3. Choose Media
You can do a basic text ad, the most common, or a 30-second video ad.
4. Write Ad Copy
Brevity is key: the headline can’t be more than 25 characters; the body can’t be more than 75 characters. For best results, create a different ad for each buyer persona you have, and tweak the copy accordingly. You can test up to 15 variations of your ad in each campaign, with different images and text. The closer is the Call-to-Action (CTA). Tell people to “Download your free eBook now!” or “Click here for free sample!”
5. Target Your Ad
LinkedIn lets you target by location, company, job title, school, skills, group, gender, and age. In addition, you can target your ads to member of interest-specific LinkedIn Groups. How many prospects in your target up to you, but LinkedIn typically suggests a minimum target is 200,000.
6. Choose Payment Method
You can pay by the click (CPC), or by 1,000 impressions (CPM). If you pay per click, you will be charged each time someone clicks on your ad. Most investment managers choose PPC. LinkedIn will suggest a bid range depending on your budget and the competition for your ads; the more advertisers bidding on a similar campaign, the higher your bid will need to be. This bid is the maximum you will be charged.
7: Set Daily Budget
What’s your budget? The minimum daily budget ask from LinkedIn is $10.00 per day. (If your ads are not clicking, you can actually spend less than $10.00 a day.) You change your maximum spend during the day an ad is running. So you can budget for daily, weekly, or monthly, for example. You can also choose if you want your campaign to be shown continuously, or until a certain date.
8. Track Progress
You can track your progress in the LinkedIn ads platform home screen. There, you’ll see a graph mapping your clicks, spend, average cost per click, and click through rate (CTR). So what’s a good CTR? The benchmark is 0.03% or higher.
9. Get New Leads
So what’s clicking? Well, how many leads are you getting? You can tell by how many prospects are filling out your lead capture form. How many eBooks are you sending out? How many phone calls, follow-up emails, face-to-face meetings, and assets over time are you bringing in?
Pay per click advertising can be a critical component of generating new leads, assets, and capital. For more information, please click for your free eBook below.