Unless you’ve been living under a rock, you’ve probably heard of LinkedIn and know its extensive network. If you look at linkedin statistics, you’ll understand why the platform enjoys the popularity it does. LinkedIn is, by no surprise, one of the most popular professional networking sites dedicated to providing job opportunities and verified candidates for recruiters.
Using LinkedIn, you can find your dream job and internship and expand your professional network. You can even improve your skills and talents by taking certification courses and tests to help you move forward in your career.
In this article, we will look at some of the most critical LinkedIn statistics that will help you understand the success of the website:
What is LinkedIn?
Working like any other social media platform, LinkedIn is a platform where professionals come together to share ideas, connect and learn from each other. It doesn’t matter if you are already an established business owner or fresh out of college and looking for a job; LinkedIn has something for everyone.
According to a survey to determine how many users are on Linkedin, it was found that there are about 810 million users spread across 200 countries and territories. Of this remarkable number, more than 45% are active monthly users, which means that about 100 million users log into the platform daily.
In simple words, LinkedIn is like a virtual job fair where you meet fellow professionals and exchange your credentials for work purposes. The best way to get ahead of the game on LinkedIn is to expand your network by making more connections. As a matter of fact, 92% of B2B marketers use LinkedIn when they do market research. Plus, 50% of online social traffic is courtesy of LinkedIn.
How is LinkedIn used?
To get started with LinkedIn, follow these simple steps:
- Sign up for the platform
- Create your profile and add a professional picture to make an excellent first impression.
- You can choose to open a basic or a premium account. You can enjoy added benefits of getting the premium version. However, the primary account tier is also equally functional for job hunting.
- On LinkedIn, you can write a summary of yourself that will be visible to potential recruiters or connections. This is a chance for you to showcase your creative side and cook up a few short paragraphs that perfectly explains who you are and what you do.
- You can now work on the rest of your profile by adding details like your educational qualifications, previous job experiences, certifications, skills, and recommendations.
- Start building your network by sending invitations and messages to people you believe to be an asset to your network. Make sure that you keep the messages professional.
- You can also use LinkedIn endorsements to increase your chances of being recognized by others outside your network.
- If you are actively looking for jobs, you can start searching for jobs related to your field/interest on the platform. Some recruiters give candidates the chance to apply directly for their job vacancies through the platform.
- Finally, the best way to make full use of your LinkedIn profile is to keep all your information updated and stay active on the platform.
How much does LinkedIn cost to post job vacancies?
When you post a job vacancy on LinkedIn, you need to promote it to attract more candidates for your post as a recruiter. The cost to post job vacancies on Linked in can vary significantly from one recruiter to another. You can post job vacancies for free but promoting it will bring in three times the number of applicants compared to a job post that is not advertised.
When you make a free job post, it shows up on the search results on the platform. However, you are allowed only one free job post at a time. On the other hand, when you make promoted job posts, you are likely to attract 3 times the number of applicants for your job post. The posts are also automatically placed at the top of search results on the platform.
The cost of making job posts on LinkedIn Explained
Since LinkedIn works on a pay-per-click model, the cost of each job post depends on the recruiter and how much they are willing to invest in the promotion of their job post. LinkedIn uses an algorithm that determines the cost of each click by checking the location of your job post and the competition online with similar job posts.
For example, if you set a budget for $10 every day for a week to get your job post promoted across the platform, your total cost will come up to $70. This applies to all job posts that reach the daily $10 budget for the entire week.
The cost of each click or view is summed up and calculated by dividing the total budget by the number of clicks/views on your job post. Based on what your job title is, LinkedIn will also recommend an ideal total budget for your job post, but in the end, it is entirely up to you how much you think is the proper budget for your job post.
The promotion is automatically paused when your total budget is spent on a specific job post.
Why use LinkedIn?
Meetup, Hired, AngelList, and LinkedIn websites are among the most popular professional networking platforms for people looking for jobs. LinkedIn easily tops the list because the platform is dynamic, efficient, and versatile.
LinkedIn is the best place to recruit viable candidates for their company for business owners. On the other hand, for job seekers, LinkedIn acts as a one-stop-shop to find the job of your dreams. More than 55 million companies are listed on LinkedIn, with 87% of the recruiters from the companies using the platform daily to look for potential candidates. They also post internship opportunities so you can easily find something that is desirable for you.
With over 20,500 employees for the company with a net income of 159.2 million as of 2021, the current LinkedIn valuation is 29.99 billion USD. According to a 2021 survey, revenue made by LinkedIn was a staggering 10 Billion USD.
The extent of LinkedIn’s reach is massive, which is why if you haven’t jumped on the bandwagon, there’s no time like now to create your LinkedIn account and find the job of your dreams.