8 TIPS ON HOW TO MONETIZE YOUR LINKEDIN

Are you one of the frustrated LinkedIn members who has really no idea how to monetize this incredible database that you have been building on LinkedIn?  Great news, especially if your business depends on sales and being found online. Excellent if you’re a sales person, speaker, social media expert or celebrity and your business success depends on being able to demonstrate the value you bring to others.  

Are you monetizing your LinkedIn profile?  Do you have a great profile or does it need a little polish so you can join the LinkedIn 1% Club?

LinkedIn by the Numbers

LinkedIn now has over 202 million members, had over 5.7 billion searches last year, and 2 new members join every second. Where do members live?  According to LinkedIn, 74 million members are from the United States, 18 million in India, followed by Brazil and the United Kingdom with 11 million each, 7 million from Canada, and 3 from Australia. 

The average income of the LinkedIn user is $109,000 versus Facebook’s $25,000 and Twitter’s $52,000. No matter how you slice it, LinkedIn is big business with huge revenue opportunities for your company 

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Monetizing LinkedIn 

First, why should you be on LinkedIn?  Be found or find others. This means the size of your network matters. LinkedIn works on the theory of six degrees of separation but they only allow you to see three levels. You don’t know who your connections know. How can you use your LinkedIn profile to connect with all six levels of connections?  Here are some ideas to get you started.

1. Update your LinkedIn status so your profile is promoted on updates for others to see. For brand recognition it used to be that it took 7 exposures to the brand for it to be remembered. Today the number is closer to 12 times.  Update your status 2-5 times per week for maximum quality exposure without over exposure.  Be sure to add value and include a call to action so your prospects are attracted by your value proposition.
2. Prominently display your contact information in the LinkedIn contact area and in your summary. You want to be found easily. If you’re not easily found, a prospect or recruiter will move on to the next person. Remember the only two reasons to be on LinkedIn are to be found or find others.
3. Build credibility by promoting awards, coveted skills, unique value propositions, or your blog.  If your profile was in the top percentile of LinkedIn views tell people. Use LinkedIn, Twitter, Facebook, your blog and shout it out to the world. Caterina Rando, President of Thrive Business Development, says, “Be loud and proud” about your accomplishments.
4. Hunting vs. Attraction Sales Strategies on LinkedIn. While both sales strategies will work, attraction strategies are more sustainable.  If you start selling on LinkedIn people will be turned off. You could even be labeled as a spammer and get your account shut down. Instead, add value to your connections, engage in the groups, be active and visible. Set a daily or weekly goal for engagement and stick to it. 
5. Show interest in others. Help others by commenting on  posts, visiting profiles, following companies or sharing the content of people you respect.  
6. Make asks small, infrequent, compelling and easy to support. Think no brainer. An example came today in the form of an ask to tweet a podcast which supports people around the world. The tweet was the vote to support this great show. The ask was small, compelling and easy to accomplish. Perfect.
7. Encourage connections to visit your website. Entice website visits through the use of an interesting blog, video, or white paper  Once they are on your website offer them other services or products.  Remember selling is a service. The goal is to find your exact right desired client and offer them something they will find irresistible.   
8. Be Enduring and Endearing. Success on LinkedIn depends on your tenacity in planting those seeds of relationship over time. When you plant seeds you expect them to take a while to germinate, grow, and finally to fruit. Seeds also need water, nutrients and air. Same with prospects. People need to receive value, be heard and finally be given enough time to trust you. 

Are you successfully monetizing LinkedIn? If your business depends on client leads and you did not receive the LinkedIn 1% Congratulations email what can you do? 

Consider investing in a LinkedIn profile makeover so you can start attracting attention from the right prospects, potential referral partners and the media.  For information on a do-it-yourself makeover template visit www.CarolSmith.com/linkedin If you’re interested in an executive profile evaluation or makeover, visit www.CarolSmith.com We would love to have you join the LinkedIn 1% club with us!

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