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LinkedIn is an American business and employment-oriented service that operates via websites and mobile apps. Founded on December 28, 2002, and launched on May 5, 2003, it is mainly used for professional networking, including employers posting jobs and job seekers posting their CVs. As of 2015, most of the company’s revenue came from selling access to information about its members to recruiters and sales professionals. As of 2015, most of the company’s revenue came from selling access to information about its members to recruiters and sales professionals. LinkedIn allows members (both workers and employers) to create profiles and “connections” to each other in an online social network which may represent real-world professional relationships. Members can invite anyone (whether an existing member or not) to become a connection. It enables you to network and to build your professional portfolio, but you can also go out into the world and look for a new job.
- Social networking service
- Multilingual (24)
- December 28, 2002; 16 years ago (24)
- Mountain View, California, U.S. (24)
- Sunnyvale, California, U.S.
- Reid Hoffman
- Reid Hoffman
- Allen Blue
- Konstantin Guericke
- Eric Ly
- Jean-Luc Vaillant
- Jeff Weiner
- Shannon Brayton (CMO)
- Christina Hall (CPO, SVP)
- ShSteve Sordello (CFO, SVP)
- 15,000 (2019)
- Microsoft Corporation
LinkedIn is headquartered in Sunnyvale, California, with 33 global offices in Omaha, Chicago, Los Angeles, New York, San Francisco, Washington, D.C., São Paulo, London, Dublin, Amsterdam, Graz, Milan, Paris, Munich, Madrid, Stockholm, Singapore, Hong Kong, China, Japan, Australia, Canada, India and Dubai. LinkedIn’s CEO is Jeff Weiner, previously a Yahoo! Inc. executive. Founder Reid Hoffman, previously CEO of LinkedIn, is Chairman of the Board. It is funded by Sequoia Capital, Greylock, Bain Capital Ventures, Bessemer Venture Partners and the European Founders Fund.
LinkedIn is a great place to get your content seen by the right people. It’s a bit more serious than Facebook or Twitter, and its users are more receptive to topics around business, marketing, and all the rest.
But, you need to know how the LinkedIn algorithm works to make sure what you post does as well as it can.
Instead of having to go outside for recruitment, business expansion and maintenance of professional network, people can simply log on to its site and enact the same deeds.
As online presence continues to expand among Internet users, so does the necessity of LinkedIn. In this article we, Future Work Technologies will explain you about Linkedin works and its business model.
What is Linkedin how does it work?
LinkedIn algorithm has two primary goals:
- To prioritize relevant content
- To promote engagement
LinkedIn is a social media network like Facebook. Sites can create a two-way account on LinkedIn. Free and Pad LinkedIn was created on 14 December 2002 and was launched on 5 May 2003
Use of Linkedin is increasing daily LinkedIn is the largest professional network in the world. We all know that very large social sites like Facebook, Instagram, Twitter and social media networks are already present on the Internet. LinkedIn is used to find more employers or employers.
Like other social media networks, LinkedIn uses an algorithm that’s continually updated so that it can provide users with what it determines to be the best experience possible. As a user, you’ll note that your “feed” – which works much like the feed on Facebook – provides you with a steady stream of content. But before this feed arrives in your profile, it goes through filters that LinkedIn rate.
Some of these rating filters are structured to look for spam, low-quality content or to give the go-ahead to allow the content. What you’re seeing has likely been given a “thumbs up’ from a computer bot.
Linkedin uses and How LinkedIn Can Help You
- Establish your professional profile and control one of the top search results for your name.
- Build and maintain your professional network.
- Find and reconnect with colleagues and classmates.
- Learn about other companies, and gain industry insights.
- Find other professionals in the same industry using groups.
- Share your thoughts and insights through LinkedIn’s publishing platform.
- Tap into the knowledge of your network.
- Discover new career opportunities by searching for jobs.
You can use this social network to find an employer, Promote Blog / Website on LinkedIn to increase traffic
It allows users to connect with contacts and built out the new user’s profile. These efforts combined to increase LinkedIn’s virality in a big way.
Page views increased by 41%,
searches increased by 33%,
38% more positions listed on profiles.
Virality was not arrived at by accident.
It was actively tweaked, tested, and encouraged.
This is also known as a Double Viral Loop.
Here is a 10 step procedure of using LinkedIn Marketing for business.
- Start with your profile
- Create a Company Page
- Define your goals
- Optimize for search
- Attract followers
- Publish engaging content
- Use rich media
- Sponsor your posts
- Create LinkedIn Ads
- Get advanced with analytics
If you have a business, you can work as a Business Partner here as well as Industry Expert. On LinkedIn sites, you can also use the profile as a Resume. According to the August 2016 report, a total of 108 Million Active Users visit this social network every day. The founders of LinkedIn: Reid Hoffman, Konstantin Guericke, Jean-Luc Vaillant, Allen Blue, Eric Lee, Headquarters of LinkedIn: Mountain View, California, United States, Parent organization of LinkedIn: Microsoft Corporation.
You can upload your Resume as per the requirement of the company, you can also apply for a job in a company, LinkedIn has more than 40 Lakh members which are spread in more than 200 countries, Linkedin includes 500 company executives.
Let’s explore the business model canvas of LinkedIn in more detail.
LinkedIn not only connects you with other professionals but also with companies and recruiters. The company has uniquely positioned itself as the only platform worthy of professional networking. Along with professionals, it also serves companies and even charges for providing certain premium services. Unlike other social networks like Facebook and Twitter, users even pay to stand out on this platform.
How LinkedIn makes money?
While most social networking sites earn most of their revenue through advertising, LinkedIn has a totally different business model in place. The revenue model of LinkedIn can be divided into two parts:
LinkedIn is a one-stop solution to increase your professional network and find new opportunities. Every user on LinkedIn has a different set of requirements. Be it finding new networking opportunities, potential employees, marketing of new campaigns, searching for a sales lead or learning business concepts, LinkedIn business solutions have services to fulfill most of these needs.
LinkedIn primarily has three sources of revenue or monetized solutions:
- Talent solutions
- Marketing solutions
- Premium subscriptions
The LinkedIn business model would not be able to function without $2.3 billions of its revenue. This amount is mostly contributed to its Talent Solutions which serves as its most important premium recruiting tool.
Talent solution mostly operates for companies to help them locate their targeted employees and potential partners for their business. Some of the common services offered by Talent Solutions include job posting, career pages, referrals, recruitment media, etc.
Talent Solutions basically acts as the employee poacher of LinkedIn and drives a competitive environment in its domain.
Moreover, LinkedIn is considered internationally authentic, it allows recruiters to trust different brands with less suspicion and make the recruitment process more convenient. This is why LinkedIn has managed to get the best of its competition whether it be in the form of job portals like Monster Jobs or Indeed.
LinkedIn is also a social networking site besides being a recruitment platform. It is currently the most sought-after site by marketers who seek to expand upon their marketing campaigns.
Their Marketing Solutions services provide various features which allow companies to create their own respective pages and create sponsored content to advance their marketing prospects. This also includes sponsored InMails, Ads API and text ads.
Mostly catered to users of LinkedIn, Premium subscriptions allow them to access certain features. Some of the more prominent features in the premium subscription are:
Who’s Viewed Your Profile?
- How You Rank
- Direct messages to Recruiter
- InMail messages
- Online video courses
- Salary insight
- Profinder – hire freelancer service
- Sales Navigator – helps sales professionals to find and qualify prospects
The price point for different premium subscription options are:
- Career – $ 29.99/ month
- Business – $ 47.99/ month
- Sales – $ 64.99/ month
- Recruiter Lite – $ 99.95/ month
Future Work Technologies is a global Web + mobile app development company. It Helps e-commerce companies to develop revenue generating apps at affordable cost So If You want to know more about How LinkedIn Works and its business model. Get in touch with us now!
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