Channel: LinkedIn ads - sponsored content.
Creative: Tested 3 pieces of creative that have worked well on other channels (eg. FB retargeting). A mix of bright colours and white backgrounds. White backgrounds seem to work on LinkedIn.
Product: Multi-step form builder that helps marketing agencies build forms that boost conversion rates
Audience: Conversion rate optimisation experts (members in related groups - very targeted).
Previous experience: I used to spend about $100k a month on LinkedIn ads in my day job, so I'm not exactly new to this - although must admit I had forgotten a lot when I set up the campaigns!
... insanely expensive.
You've probably heard before that LinkedIn ads are expensive, but this test really took the prize.
CPC: $15.95 per click!!
The landing page performance was terrible (80% bounce rate compared to a <40% bounce rate on most traffic), and didn't get a single lead.
Learnings and advice
For anyone interested in trying out LinkedIn ads, I must pass on these two nuggets of wisdom:
1.) Don't set delivery to "Maximum delivery (automated)" - you can try setting your own target cost (subject to their estimates). I've reduced my CPC from $15.95 to $4.87 doing this.
2.) You can deliver on audience network to decrease CPCs by 25% (i.e. banner ads outside LinkedIn). This is supposedly the same quality targeting, but from cheaper locations.
My next steps
Having implemented the above, I should be able to slash my CPC by 50-75%. I don't think this is going to be a competitive channel for us (it ends up costing a similar CPC to Google Ads, but is MUCH lower intent), but want to keep testing as these are fairly significant optimisations.