It’s August and everyone’s favourite business platform – LinkedIn, is wasting no time in creating newer and more interesting in-app integrations. Apart from anything else, the Q4 2024 report is here, and it hides some interesting data. Have you thought that video formats have a growth in the platform by as much as 34%? For more interesting news, read the full article below.
LinkedIn Business Q4 2024 Report from Microsoft
In Q4, LinkedIn reported a 10% year-over-year revenue increase (9% in constant currency), driven by accelerated member growth and record engagement. The platform now sees 1.5 million pieces of content shared every minute, with video emerging as the fastest-growing format, experiencing a 34% increase in uploads year-over-year. LinkedIn Marketing Solutions continues to lead in B2B digital advertising, allowing companies to deliver targeted messages to the right audience on a secure and trusted platform.
LinkedIn’s subscription services have also seen significant growth, with Premium sign-ups increasing by 51% over the year. The company has enhanced its Premium offerings with new AI tools, making the AI-powered LinkedIn Premium experience available to subscribers worldwide. This reimagined experience helps users connect more easily with opportunities, access learning resources, and receive career coaching. Additionally, LinkedIn’s hiring solutions have gained market share for the second consecutive year, highlighting the platform’s effectiveness in supporting recruitment efforts.
LinkedIn has recently introduced a variety of new features and updates designed to enhance user experience and help members grow their audiences and communities. These updates include a revamped article reading experience, the integration of Microsoft Designer, and the rollout of staging links to facilitate content sharing and community building. For small and medium-sized businesses (SMBs) and entrepreneurs, LinkedIn has launched new Premium Business features such as Service Storefront and a new offering called Premium Company Page, aimed at helping businesses showcase their services more effectively.
The platform has also expanded its AI-powered Premium experience for job seekers by providing tools for conversational job search, cover letter and resume assistance, and AI-powered learning resources for all Premium subscribers. To enable customers to creatively reach their audiences and build their brands through video, LinkedIn has introduced Connected TV (CTV) ads, including LinkedIn Premiere in partnership with NBCUniversal. This feature allows users to launch self-serve CTV campaigns via LinkedIn’s Campaign Manager, expanding their reach across a network of publishers and engaging audiences on connected devices.
Source: Techloy & LinkedIn
Furthermore, LinkedIn has enhanced its integration with HubSpot’s Smart CRM and LinkedIn Sales Navigator, improving sales efficiency by allowing users to access LinkedIn data directly within their CRM. This integration provides sales teams with seamless access to information on over 1 billion LinkedIn members and 67 million companies worldwide, enabling them to manage their sales processes more effectively without switching between multiple platforms. These updates reflect LinkedIn’s commitment to providing innovative solutions that support business growth and engagement on its platform.
Source: Mobile Marketing
LinkedIn Launches Verification for Company Pages
Apart from all the news, shared in the Q4 report, LinkedIn has introduced a verification feature for company pages, allowing brands to establish authenticity and trust on the platform. Verified company pages receive a grey verification tick, indicating that the page has passed LinkedIn’s identity and authenticity checks. This process involves verifying various data points such as location, website URL, active page admin presence, and compliance with LinkedIn policies. If you’d like to get your page verified you should head on over to Settings and then Verification Controls. Companies can apply for verification through the “Verification” settings on their company page, but the rollout is limited, and LinkedIn will approve pages at its discretion.
Source: LinkedIn
The team behind this update shares:
“We know that authenticity is key to creating meaningful interactions. A verification badge on a LinkedIn Page helps signal to members and customers that this is an official Page for the organization, and in turn, helps the organization build trust with its audience.”
The addition of company page verification is beneficial as it provides users with assurance that they are engaging with official company representatives, thereby enhancing trust and authenticity on the platform. However, the process is still in its early stages, and with 58 million company pages on LinkedIn, it may take time for the feature to be widely implemented. Although the application process is limited for now, LinkedIn aims to streamline and expedite approvals over time. Verified pages will display a “Verified” label and verification date in the settings, and companies that do not yet have access to this feature can express their interest via the page’s verification controls.
LinkedIn Settles Lawsuit Over Alleged Ad Overcharging
On July 26, LinkedIn agreed to a $6.625 million settlement for a class action lawsuit accusing it of overcharging advertisers by inflating video ad view metrics. This preliminary settlement, filed in San Jose, California, needs approval from U.S. Magistrate Judge Susan van Keulen.
Source: FreePik
The lawsuit, brought by advertisers TopDevz and Noirefy, claimed LinkedIn inflated video ad views by including counts from users’ apps even if videos were played off-screen. The professional network denied any wrongdoing but agreed to hire an external auditor for two years to review its ad metrics. Judge van Keulen had dismissed the lawsuit in December 2021, but an appeal was put on hold for mediation. The advertisers’ lawyers may seek up to $1,656,250 (25% of the settlement) for legal fees.
The lawsuit followed LinkedIn’s November 2020 disclosure of software bugs that caused overcharges to more than 418,000 advertisers, mostly under $25. LinkedIn issued credits to nearly all affected advertisers. The settlement covers U.S. advertisers who bought ads on LinkedIn from January 2015 to May 2023. LinkedIn emphasized the settlement shows its commitment to ad product integrity.
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