How do you get an ROI from LinkedIn? Before we can answer that question, it’s important that you understand what a return on investment, or ROI really means. ‘ROI,’ is the amount of money you get in return for some effort: whether it’s a marketing campaign or a LinkedIn campaign! When someone asks us “What type of ROI can I expect to get from LinkedIn?” Our answer entails a list of questions:
- What are you going to invest in terms of time and money? Over what timeframe do you want to measure ROI?
- What is the lifetime value of each client that you hope to get from LinkedIn?
- What is the value of each conversation that you will have with a prospect?
- How long does it take for you to close a deal from the time you have your first conversation?
How A Coach Can Help
It’s not just money that you are investing into learning LinkedIn with a coach. It’s also not just money you are investing into a LinkedIn premium account, although that is not required to get an ROI. You are also investing time, effort, and energy.
A sales manager hired us this year to teach him and his team how to use LinkedIn and they closed a $250k deal in the first 8 weeks. A coach hired us to train him and his team and they closed a 40k deal in just 30 days of working together.
Getting an ROI from LinkedIn is about learning how to be smart about using the tool, otherwise, you will be wasting your time LURKING instead of taking the right action. But you need the right trainer that uses LinkedIn strategically, not someone who just knows how to use the tool technically.
Anyone can teach you the technical parts of LinkedIn. A business strategist and marketing expert will teach you how to use the right strategy that will give you a positive ROI long term. Success is 80% mindset and 20% skillset.
What if your deals are small? Then you have to change your mindset and think bigger.
How To Figure Out Your ROI
So if you want to generate an ROI from LinkedIn, first ask yourself: what is your goal? Having a bigger goal means you are more likely to have a bigger outcome. 95% of getting the job is showing up, but you have to ask for what you want. When you are networking, if you do not ask for referrals, you will not get them.
Secondly, you should ask yourself: What is a conversation with a prospect worth to you?
If a conversation is worth $1,000 and we show you how to get 10 new qualified conversations in the first 10 weeks, you get an ROI of 10k in 10 weeks.
If each qualified conversation is worth $2,000 to you and we get you 100 conversations (2 a week for a year) you generated a $200K ROI.
Your investment was your time learning how to use LinkedIn, your time implementing the program that you are being taught, and the amount of money you spent on a coach and the technologies that you purchased.
ROI can be a very straightforward question to answer but you can always qualify the answer and there is a RISK factor to consider as well.
So thirdly, you should ask yourself: What is the likelihood that you will get to the ROI?
Without LinkedIn, your likelihood goes way down. All of your clients are on LinkedIn, and with 40% of people being active on LinkedIn, there is a huge opportunity.
Over 90% of people do not have a strategy to leverage LinkedIn to generate conversations and opportunities. That is why it’s important to get the right coach or trainer to train you and your team to support your efforts.
Why Get LinkedIn Training, Anyway?
We’re glad you asked.
Here are the 4 main benefits of LinkedIn training which will help you maximize your ROI from the platform:
1. Information
There’s a lot to do with the enormous amount of information that you get from LinkedIn. You can see anyone’s first and last name, their company name, how long they worked there, and their various titles working at the company. You can see where they worked before, what school they went to and all your mutual connections with them. Do you know how to use that information? This alone can give you an ROI from the platform.
2. Research
It’s not just about mastering the 7 ways to use LinkedIn search. It’s also about learning how to survey your prospects and centers of influence. You’ll need to analyze content and learn what people are doing so you can be in the right place at the right time when people are making buying decisions.
3. Access
Get access to anyone on the platform, learn how to find contact information that is updated like email and cell phone data, and how to use DM in a way that is not annoying. Every person on the platform is getting spammed a bit here and there, so knowing how NOT TO BE A SPAMMER is key. We teach the greeting, feeding, and meeting method to build relationships and it has generated millions for our marketing agency over the years.
4. Presence
Creating an optimized presence for yourself and your team is key to building authority, being found in search both on LinkedIn and also on Google, and staying top of mind with your relationships. Networking is about staying top of mind and proactively following up. When you understand that the fortune is in the follow-up, your whole game changes.
In summary, if you want to get an ROI from LinkedIn, you’ll need to understand what type of ROI you want to get from your investment and do a test for 90 days. See if that test can get conversations with ideal clients. They are already on LinkedIn, so now you just need the right strategy to get results by understanding how to get those conversations and how to stay top of mind.
At Evyrgreen Networking, we want to give you the value, knowledge, and tools you need to excel and reach your networking goals. With our LinkedIn Accelerator training, we will take simple strategic steps each week to create the right habits for prospecting using LinkedIn to generate more leads and referrals.
If you’re a sales professional, entrepreneur, or someone who just wants to start networking to generate leads and referrals, our LinkedIn Accelerator Training is the course for you.
To learn more about Evyrgreen’s LinkedIn Accelerator Training, visit https://www.evyrgreen.com/linkedin-accelerator-training
Ready to join our 6-week, virtual live LinkedIn Accelerator Training? Join now! Limited spots are available.