LinkedIn is a professional network, but that doesn't mean you can't make money on it. Whether you are looking to start a freelance business or want to expand your current career, LinkedIn can be an invaluable tool for generating leads and connecting with customers. In fact, you can make money on LinkedIn.
LinkedIn is, just like other social media, a social networking website, but also a business-oriented site that enables registered users to create profiles and make connections with each other.
Linkedin provides its services to the general public and is one of the largest websites of its kind.
2021 LinkedIn Data & Facts
As recorded by Hootsuite, LinkedIn has 722 million members, 57% of LinkedIn users are men, and 43% are women. And while 76% of LinkedIn's users are outside the U.S, it further reported that 27.1% of all Internet users in Canada use LinkedIn each month with 59.9% of its users between the ages of 25 and 34 years old.
The above report is important to help us understand to what extent this social network (LinkedIn) can be of importance for making money online.
With Kinsta's Mind-blowing LinkedIn Statistics and Facts, LinkedIn currently has a Daily Active User (DAU) of 16.2% and a Monthly Active User (MAU) of 48.5%.
We can say we have a reasonable amount to consider business worthy, with other measures duly considered.
As an invaluable tool for business owners who want to reach their target audience online, LinkedIn helps businesses connect with their potential customers, find new prospects, develop industry partnerships and drive sales.
But how do you make money on LinkedIn?
Why LinkedIn is important for making money
LinkedIn is one of the most underrated social media platforms on the web. It’s a great way for you to connect with people in your industry.
LinkedIn was once just for job-seekers and recruiters.
Now it’s become a place for people to build their personal brands, connect with influencers, and get business leads. Companies are also using it for recruiting and marketing, as well as staffing. It’s a great way to network effectively and to make money using LinkedIn strategies, you need to understand what works best on the site.
You can find jobs and connect with recruiters. You can also find companies, products, and services that can help you grow your business and increase your revenue. It’s easy to make money on LinkedIn, but not everyone knows how.
This article explains some of the best ways to do it. We will cover how to get the most out of your LinkedIn profile, including creating a compelling profile image, getting inbound leads from cold outreach, and more.
Before You Do Anything, Do These.
To ensure you get the most out of your LinkedIn account, here are some tips and recommendations.
- Be Positioned like a Professional: Your LinkedIn profile can sometimes define the type of people you attract to your connections. Your LinkedIn profile should be professionally designed, with a professional headshot, a catchy description/bio, and other crucial professional elements.
- Create Quality Content: Stay on top of your game by developing content that corresponds to the services or skill-sets you wish to offer on the platform. Stick to brand storytelling because stories have a way of bringing your target audience to your page.
- Join Professional Networks: There are professional networks in your field that you'll find interesting. With them, you can feed your business with the latest information or trends.
- Don’t Forget Your Hashtags: Including hashtags in your LinkedIn postings can assist boost the visibility of the content you provide on the platform.
How to make money on LinkedIn as a Freelancer
Ideally, it is believed that you already identified a Niche and need to hit the road on how to make money on LinkedIn as a freelancer. This section will cover different the various ways to go about it.
Offering Consultations (for a fee!)
LinkedIn is a great place to get in front of your target audience and offer consulting services.
Let's assume you're an expert in Search Engine Optimization (SEO), digital marketing, content writing, graphic design, or blogging. You want to show someone how to create viral articles, make jaw-dropping designs, or develop a website, you can make money on Linkedin by offering consultation, for a fee!
This requires some level of proven experience on your part. The reason is that you need to show that you have some insight into the world of business.
For example, if you have started your own business and run it successfully for several years, this would be great evidence of your ability to tell someone the exact steps to take.
Leverage on LinkedIn Advertising to Promote Your Services
The question is, ‘why run advertisements with LinkedIn, when you can with Facebook, Twitter or/and Instagram?'
It is because LinkedIn can target professionals and serious-minded audiences truly looking for help or jobs, as the case may be.
This is what LinkedIn advertises on its website:
“LinkedIn Ads deliver professional audiences, giving you the ability to reach highly qualified decision-makers who are looking to purchase your products and services.”
To use LinkedIn advertising to promote your services, you first need to be on the platform. Then you need to target people with a specific closeness range, either by location or interest. You also need to target the appropriate age group as well as understand when your target audience is most likely to be online.
Sign up on LInkediIn Premium
Everyone with a LinkedIn account is running a free version of Linkedin with limited possibilities. You need a premium LinkedIn account to take full advantage of all the functions.
If you are serious about networking for business, you should upgrade to a premium account.
This is not expensive at all and will save you hours in your job or client search, giving you access to much more functionality such as having access to more search options and having your profile and pitches promoted to the top of the page for easy visibility.
iv. Make money on LinkedIn by Pitching to companies
By pitching to companies and trying to get them to hire you as a Freelancer, you also stand a chance of making money on LinkedIn. Although this method is a bit more complicated than just doing cold emailing, it’s also more lucrative if you succeed.
I used this method when I was first starting out in the freelancing world. My success rate wasn’t great (less than 20%), but I did land a few jobs that helped me build my portfolio and gave me experience working with different clients.
Look around the LinkedIn platforms. What do you see?
They are all looking for something. While Companies are out in search of Talents to be part of their team, Individuals are out in search of Companies to join. So, the same way the companies pitch for new talents, as a business owner, or a freelancer, you want to pitch to companies too, if you want to make money on LinkedIn.
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