What do you think of when it comes to building working relationships, finding better career opportunities, or expanding your professional network? Yes, LinkedIn is the best resource available online. LinkedIn is the biggest social networking platform for professionals with over 774+ million users from over 200 countries and territories. LinkedIn is a social networking site that is geared towards professionals connections. Founded in 2003, by Reid Hoffman and later acquired by Microsoft in December 2016 and it became the subsidiary brand of Microsoft.
LinkedIn started well over 18 years ago and when it launched, it was a place for recruiters to list jobs, it was a place for individuals to put their resumes online and both of those like-minded opportunities would meet in the middle and it was very effective in finding people jobs and everything else that went along with that but LinkedIn has also evolved into being the biggest and best business networking platform in the world. It’s an amazing place for you to go online to meet like-minded business people and a place for you to help grow your business and your brand as well.
After Microsoft acquired LinkedIn, it has helped to boost users within 4 years of the span as Microsoft is ranked among 5 top tech companies such as Facebook, Google, etc. The growth of any online platform is dependent on its user, LinkedIn has got approximately 774+ million users among which it has 310 million active users. LinkedIn is successful in increasing its user every year. One of the important features of LinkedIn is the filter section which helps to categorize the results according to your preferences. Due to the tagline of the professional’s platform, it has been able to garner the trust of its user.
Many users try to create a fake profile by putting false information and use it to take advantage of online opportunities or to scam. LinkedIn also lost the lawsuit on ‘invite your emails’ in November 2014, in which it was acquiring users’ emails and sharing them without their consent which was a complete breach of privacy.
To increase its reach, LinkedIn should start thinking of partnerships with big mobile phone companies such as Apple, Samsung, Huawei and it will also help to increase company market share. LinkedIn should also add new features in its desktop and mobile applications of audio/video calls which will help users to connect easily. LinkedIn should help users to connect easily. LinkedIn should also look to invest in an emerging market where the unemployment rate is higher, which will help the company to reach its user easily and will also help to increase its market share.
The fake accounts are jeopardizing the trust users have towards LinkedIn. Hackers are creating fake profiles with false information and are successful in deceiving people. Many other professional platforms like Indeed, Jobcase, etc, are increasing their market share in a very rapid way. The growth rate of these platforms is a great threat to LinkedIn. As it is a global platform, it is likely to get affected by pandemics or fluctuations or different privacy laws by different governments.
The platform isn’t as well-known as others, but it has a bright future ahead of it. LinkedIn Business Model has been growing at a faster rate than ever since it was acquired by Microsoft.
LinkedIn, whose excellent financial health is dependent in part on its continuing development, is wagering that by adding additional media tools to its armory, it can find the “holy grail.”
LinkedIn is a social media network for professionals. There are over 774+ million registered worldwide. The largest age group using LinkedIn is between 25 – 34 at 60.1%. It mainly focuses on an older audience as one-fourth of users are millennials that come under this age group.LinkedIn has become a marketing jackpot because of its B2B demographic which provides higher earning. The B2B audience in LinkedIn, helps it to differ from other social media platforms. LinkedIn claims that they are the top social network in terms of lead generation which helps the B2B marketer to attract their audience for their campaigns and ultimately help LinkedIn to grow.
LinkedIn has established itself as a platform for professionals. Its mission statement is ‘connect the world’s professionals to make them more productive and successful. An image is already created in the customer mind of a professionals platform but then also the company is focusing on improving its features to attract more customers.
These are some of LinkedIn top competitors –
- Xing – Xing officially debuted on 1st November 2003 by Lars Hinrichs with more than 13 million users and it is currently valued at around $2 billion.
- Indeed – It’s working system is similar to LinkedIn, it was founded in November 2004 by Paul Forster and Rony Kahan. It has a different way of generating revenue and is considered one of the top competitors of LinkedIn.
- Zip Recruiter – It was founded by Ian Siegel, Joe Edmonds, Ward Poulos, and Will Redd in 2010. It is also similar to LinkedIn with annual revenue of $160 million as of 2019.
- Career Builder – It was founded by Robert J. McGovern in 1995. It is one of the most expensive among others. It generated annual revenue of $714 million as of 2019 and is also the top competitor of LinkedIn.
- JOB Case – It was founded in 2015 by Fred Goff and Tony Deigh. Its mission is to serve people that got ignored by other job websites. It plans to take its revenue to $1 billion in the coming years.
LinkedIn is a social networking service geared toward business professionals. The site’s purpose is to allow registered users to create and document professional networks of people they know and trust.
LinkedIn is a channel that should not be overlooked, whether you’re using it as part of your sales process or simply as a free marketing channel for your e-commerce shop. So, if you haven’t already done so, you might want to consider hopping on board and taking advantage of these LinkedIn data before your competitors who have already gone far ahead of you.