LinkedIn has so far reached milestone after milestone during these first few weeks into 2022. As per parent company Microsoft’s latest performance update, LinkedIn continues to see ‘record engagement’, with the platform posting strong results for yet another quarter. Overall revenue went up by 36%, driven by increased demand for LinkedIn ads, along with a resurgence in the job market, as the result of a (hopefully) receding pandemic.
“We are experiencing a “Great Reshuffle” across the labor market, as more people in more places than ever rethink how, where, and why they work. In this new economy, LinkedIn has become mission critical to connect creators with their communities, job seekers with employers, learners with skills, and sellers with buyers.”
Guinness-Worthy?
Amid the evolving employment landscape, LinkedIn, by far, is the most likely platform to win out due to its provision of new opportunities for people to showcase their abilities and find new positions as industries gradually return to regular operations. While there’s still a significant way to go on this front, with a large number of people having been able to successfully shift their career focus, many remain on the side, which LinkedIn sees a lot of opportunity in as the present situation continues to unfold.
Furthermore, LinkedIn also reports that its Sales Solutions business, led by its Sales Navigator platform, which now has over a million paying users, has reached a billion dollars in revenue for the year, also marking the first time that it was able to do so, adding yet another milestone to LinkedIn’s growing compendium of achievements. This points to the rising value of LinkedIn for marketers, highlighting even more opportunities with its Sales Navigator’s added insights and management tools.
When it comes to general platform use, Microsoft notes that LinkedIn events are also seeing increased use, with the platform now catering to more than 24,000 events, along with 1.5 million RSVPs weekly. On this note, LinkedIn recently added new tools for its on-platform events, including audio rooms and group video streams sometime shortly.
In other places, LinkedIn’s Service Marketplace has also aided in connecting nearly 3 million freelancers and SMBEs to new opportunities. While it doesn’t get as much media attention as other social apps, LinkedIn continues to expand, growing under Microsoft’s ownership, which it acquired back in 2016 for the sum of $26.2 billion. Back then, LinkedIn had around 430 million members, now nearly doubling to 810 million. However, ‘members’ do differ from ‘active users’ in some way, also taking into consideration LinkedIn’s pullout from China back in 2021 due to the increasing pressure from regional regulatory requirements.
The Wrap
Given all these provisions, and despite its growth not being as ‘noticeable’ as those of other platforms, LinkedIn is still on the rise. As more people begin to seek out new opportunities in this new ‘world’ of careers and professions, with more pros looking to connect, a variety of indicators exist suggesting that LinkedIn will only continue to grow, further expanding on its current usage while finding new cases as it moves along.
If you’ve considered Facebook to be part of your marketing strategy, then LinkedIn might be equally worth taking a look at – if not standing to be the better option, at least in certain other aspects. Though it’s not as ‘universal’, there are opportunities to be had with the platform’s tools and offers.
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