LinkedIn Marketing Benchmarks for 2024

As we venture into 2024, understanding LinkedIn marketing benchmarks is essential for businesses aiming to gauge the effectiveness of their digital strategies. These benchmarks serve as vital indicators, providing insights into industry standards, engagement rates, and the success of various content types on the platform.

Keeping abreast of the latest LinkedIn marketing benchmarks enables businesses to fine-tune their strategies, aligning with evolving trends and audience preferences. This not only enhances visibility and engagement but also ensures that marketing efforts are driven by data, maximising return on investment in the ever-evolving landscape of LinkedIn.

Engagement Rates

Engagement rate refers to the percentage of people who interact with your content out of your total followers. This includes likes, comments, clicks, reactions, retweets and shares.

a B2B Linkedin Approach is like using a special online tool to help businesses talk to each other and make deals. it’s like a big playground where companies can meet and become friends!

Linkedin Business Promotion is a way for businesses to share their products or services on linkedin to get more customers. it’s like telling people about your store on the internet!

The average engagement rate across industries is around 3.5%. However, the top performers achieved rates of over 15%.

Tips to Improve Engagement Rates:

• Post at optimal times when your audience is most active
• Use relevant hashtags and mentions
• Ask questions to spark discussions
• Experiment with different content formats like polls and videos

Click-Through Rates

The percentage of people who click on the links on your posts is referred to as click-through rate (CTR).

Average CTRs tend to fall between 0.09-0.33%. For top brands, this number can exceed 0.5%.

Tips to Improve Click-Through Rates :

• Use attention-grabbing headlines
• Personalize posts for your target personas
• Post high-quality images and videos
• Share valuable gated content like ebooks and whitepapers

Lead Generation Rates

Lead generation rate shows how many new leads are generated from your LinkedIn efforts per month.

On average, marketers generate around 3 leads per month for every 1,000 followers. Top brands see lead gen rates exceeding 20 leads per 1,000 followers.

Tips to Improve Lead Generation Rates:

• Offer lead magnets in exchange for contact details
• Run LinkedIn lead gen forms and Text Ads
• Participate actively in relevant LinkedIn Groups
• Encourage employees to connect with customers and prospects

Content Engagement

This metric indicates how well your followers are engaging with your updates over a period of time.

The average engagement rate per company post tends to fall between 2-5%, but top brands achieve 10% and above.

Tips to improve Content Engagement:

• Analyze competitors’ top-performing content
• Experiment with different content types like live videos and Stories
• Monitor comments and respond promptly
• Promote engagement by asking questions

Employee Engagement

Employee engagement rate shows how well your employees are amplifying your brand on LinkedIn.

On average, employees from top brands share company posts over 15% of the time. For other companies, this rate falls under 5%.

Tips to Improve Employee Engagement:

• Train employees on best practices
• Incentivize team members to share updates
• Recognize top advocates within the company
• Make it easy to share posts in one click

Content Reach

This metric refers to the total number of unique LinkedIn members who viewed your posts over a period.

Average organic reach is less than 1,000 impressions per update. But brands investing in content amplification can achieve over 100k impressions.

Tips to improve Content Reach:

• Analyze competitors’ follower demographics
• Target content to relevant audiences
• Promote high-performing posts with LinkedIn’s amplification tools
• Publish content consistently

Landing Page Conversion Rates

The percentage of visitors that convert into leads on your LinkedIn landing pages and forms is referred to as conversion rate.

Average conversion rates are 1-3%, but optimizing your pages can raise this to 5% and above.

Tips to Improve Conversion Rates:

• Offer a compelling lead magnet
• Reduce friction in forms
• Show social proof elements
• Retarget visitors across channels

Job Application Rates

This metric indicates the percentage of people viewing your job posts that go on to apply for open roles.

On average, 1-5% of viewers will apply to jobs posted on LinkedIn. But tailored targeting can increase this rate to over 15%.

Tips to improve Job Application Rates:

• Highlight company culture and benefits
• Promote posts to relevant candidates
• Enable easy one-click apply options
• Follow up with passive candidates

Cost Per Lead (CPL)

For paid efforts, cost per lead represents the average spend required to generate a single lead.

Average CPL rates range wildly based on factors like industry, offer attractiveness and targeting. Top performing brands achieve CPL under $100.

Tips to Optimize:

• Test multiple ad variations
• Analyze competitor CPL benchmarks
• Focus budget on best-converting campaigns
• Retarget engaged visitors across channels

Sales Qualified Lead Conversion Rates

This shows the percentage of leads that turn into sales qualified leads ready for your sales team to reach out.

On average, around 25% of inbound leads end up meeting the criteria to become SQLs. With lead nurturing, this rate can exceed 50%.

Tips to Improve Lead Conversion Rates:

• Score leads to identify hottest prospects
• Set up lead workflows to nurture prospects
• Provide tailored content to move leads down-funnel
• Prioritize following up quickly with new leads

Return on Investment (ROI)

The return you generate per dollar spent on LinkedIn marketing provides an ROI benchmark.

Average LinkedIn ad ROI tends to fall between 200-300%. But savvy targeting and testing can yield over 800% ROI.

Tips to Optimize:

• Calculate ROI for all campaigns
• Reallocate budget towards top performers
• Expand reach for best ROI campaigns
• Continuously refine targeting parameters

Key LinkedIn Marketing Benchmarks for 2024

Here is an at-a-glance summary of the crucial LinkedIn metrics to keep top of mind for your 2024 planning:

Metric	Average Benchmark	Best-in-Class Benchmark
Engagement Rate	3.5%	Over 15%
Click-Through Rate	0.09-0.33%	Over 0.5%
Lead Gen Rate	3 per 1,000 followers	Over 20 per 1,000 followers
Content Engagement	2-5%	Over 10%
Employee Engagement	Under 5%	Over 15%
Content Reach	Under 1,000 impressions	Over 100k impressions
Landing Page Conversion Rate	1-3%	Over 5%
Job Application Rate	1-5%	Over 15%
Cost Per Lead	Varies significantly	Under $100
ROI	200-300%	Over 800%

Keeping these LinkedIn benchmarks in mind will help you set achievable targets and maximize your marketing investment in 2024. Let me know if you need any help improving your LinkedIn strategy and results.

Monitoring these LinkedIn marketing benchmarks is crucial for setting realistic goals and earning maximum results from your investment.

Focus on providing valuable content consistently, optimizing targeting, and amplifying your reach with paid tools. Test new initiatives and double down on what delivers the highest engagement and conversions.

With the right benchmarks in mind, you can execute winning LinkedIn marketing strategies tailored for success in 2024.

Want help improving your LinkedIn marketing results? Lou Assist offers specialized LinkedIn lead generation services for B2B brands in the UAE.

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