How to Measure the Impact of your LinkedIn Marketing Campaigns

Posted by Pat Henseler in B2B Lead Generation & Sales Insights, LinkedIn Marketing Insights

You know what they say… “If you can’t measure it, you can’t improve it.”

But when you’re on LinkedIn and you want clients, what kinds of things are BEST to measure?

While they might give us a great dopamine hit, likes, shares, and comments can’t really give us what we need for business: leads and sales. They feel good, but do they really help bring in more sales? They’re called vanity metrics for a reason.

The questions is… what SHOULD you track?

Today we’ll discuss the top three things that we track for our clients to measure the success of our LinkedIn Campaigns.

But first, let’s clarify what type of campaigns we’re talking about here.

The primary type of lead generation campaigns that we perform on LinkedIn do not involve ads. Instead, this is a process to target high-quality prospects, connect with them, and build a relationship that naturally creates sales opportunities. This involves 1-on-1 connections and messaging campaigns.

An advanced masterclass on a practical system for generating quality referrals and high ticket sales appointments from LinkedIn... without spending a dime on ads

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And because relationships are inherently relative as far as how good or bad they’re going, they can be tricky to track. Here’s how we do it…

Grow, But Focus on Quality Over Quantity

Yes, seeing a large numbers on LinkedIn is nice… but only if they’re the right people for your business. The truth is, we’re not out to reach everyone. The success of our system depends on targeting and connecting with your best prospects.

Focus on Strategic Accounts

If you try and be all things to all people, you're going to really hurt yourself in the long run. It's not going to resonate with those prospects unless you make it clear to them what's in it for them.  

On the other hand, when you’re very clear on who you're going to target, you give your campaign a focus. You want to go after a specific type of person, a specific type of organization. And likely, within that organization is a person you're going after.

Keep Growing

Having said that, you do want to be continually increasing your database of targeted connections because this is where your leads will come from in most cases following our system. You also want to grow your Linked Group – the best place to really start fomenting authority in your industry.

Can vanity metrics offer any value?

Sharing content is a good tool to cement your positioning in your industry, whether in your group or on your profile, and sometimes potential prospects will find you that way, or even recommend you, but you can’t base the success of your LinkedIn campaigns solely on how many likes, comments and shares your posts get. When you post content on LinkedIn, the best that vanity metrics can offer is feedback on whether or not you’re hitting the mark when it comes to providing resources your potential prospects are interested in.

Track Your Prospect Journey

In our system, we keep an eye on two major components of our LinkedIn campaigns:

Attraction

On LinkedIn, your relationship typically starts with the connection request. It’s helpful to track how many people are accepting your requests relative to how many you sent out. In other words, if you send out 200 connection requests and 20 people accepted, you’ve just had a 10% response rate. In our experience that’s low, so perhaps some adjustment in your targeting is needed.

But you never would have known that if you didn’t track it.

Conversion

Once we’ve attracted and connected with your prospect, we send them a series of strategic messages designed to build relationships and naturally create real sales opportunities. You might hear a lot of buzz about “relationship marketing” or things like that, but this isn’t just a buzzword, especially not how we use it; we mean real relationships in the fullest extent of the word. How can you measure a relationship? We simply track the response rate of each message.

Here is an example of a short message campaign we would set up for a client:

So let’s say we send Message 3 to a prospect, suggesting an interesting article and they don’t respond. If this happens with most of your prospects, then perhaps the article isn’t very enticing to them. If it happens with just the one prospect, then perhaps it’s not reflective of the message overall.

Now let’s take messages #4 and #5, “Request Phone Call” and “Follow-up”. These are extremely important to track because this is where you guide your prospect to the sale. Without these phone calls, you have no opportunity of closing new clients. You want to make sure these messages are getting a good response.

Remember that these messages are strategically designed to build relationships, just as they are also designed to lead to a sales opportunity. You need to measure the responses to make sure that your messages are on point. Knowing how many people typically respond will give you a good estimation of potential interest for your offering down the road.

Track the Closing Rate of Your Sales Appointments

The number of sales, of course, is the most important thing to track. All of your efforts culminate at this moment: whether or not you will close the deal and gain a new client.

When we track our sales, the same concept applies- you need to know how effective your communication is in order to know whether or not you need to adjust your message or your targeting or look at your selling process.

Reviewing Your Numbers

Are you closing below your typical close percentage? What can you do to increase that number? It could mean a refinement of your sales process or it could mean you aren’t talking with the right people or that you didn’t properly warm-up your prospect. It’s good to know this number, especially over time because if you see a dip in the trend, you’ll know that something needs adjustment.

Adjust Your Selling Process

What is the next stage in your selling process? Is it working optimally for you?

  • Do you have a discovery call that leads to a proposal?
  • Or a discovery call to a formal presentation to a face-to-face to a closing call?

How well are you moving your leads through the sales process once you’ve had your first conversation or appointment?

These are all questions you need to be able to answer and think critically about to optimize your sales process and increase your closing rate.

That's a Wrap

At the end of the day, the most important thing about tracking campaigns when you use the LinkedSelling system, is focusing on how to create more quality opportunities or at-bats. That is the priority here.

Everything else we track is meant to support that goal. We track the number of connections our clients have and how big their groups are precisely because they help grow your pool of potential leads, but remember that if they’re not the RIGHT leads, then no number of connections will matter because they won’t buy from you.

We also track the success of our messaging campaigns through the responses we get, namely just to let us know that we’re on the right track. All your messages strategically lead up to the final message where you invite your prospect to get on the phone with you. The response to this message is extremely important because this is where leads become clients.

And finally, tracking your effectiveness on those sales appointments is important because whether or not you close the deal determines your revenue.

Tracking these main metrics leads to the information both we and our clients need, in order to make the decisions that will move the needle in their business. After all, that’s  why we do what we do…

An advanced masterclass on a practical system for generating quality referrals and high ticket sales appointments from LinkedIn... without spending a dime on ads

The LinkedIn

Client Funnel