For all those individuals who have been thinking of connecting themselves globally at a professional level, LinkedIn is one such platform that is a golden door to make their way into. Linkedin has made itself a highly professional community that is struggling hard to connect people with the high competitive market.
Currently, Linkedin is yet having more than 510 million users in almost 200 different countries. 80% of users have connected themselves with Linkedin for professional job or career approaches.
The LinkedIn Business model works as a freemium model with which users can enjoy the main features as free of cost. But the platform will charge some of the money for the extended features, which both job seekers and the recruiters have to pay at the time of job search.
No doubt, Linkedin is yet the fastest growing social media platforms; some people are still not aware of this medium. Millions of people worldwide are building solid careers and are finding massive job opportunities just through the platform of Linkedin.
Introduction to LinkedIn
Reid Hoffman as an American top leading internet entrepreneur and famous capitalist is the main person behind the introduction of Linkedin. His main motive was to create upon a community on which professionals worldwide can connect themselves. According to an August 2004 survey, this community reached almost 1 million users, a massive milestone for any new platform. And ever since that time, the growth rate of Linkedin has been increased at a paramount level!
Similar to Facebook, a user of Linkedin will connect itself with market professionals by simply sending requests. You don’t need to upload a CV or resume because your profile will act as the resume describing your professional and personal details. It is your profile who will work as your resume for the market people.
The whole functioning of this social media platform evolves some remarkable results which are entirely different from Twitter, Facebook, and Snapchat. Trust me, it will definitely work in just one go! With more than 106 million users who are active every month, this social media platform has significantly boosted the corporate as well as professional sectors.
How LinkedIn Help you to Make Money?
Most of the social media networking platforms are earning the whole revenue by means of advertising. But this medium of Linkedin is having an entirely different set of business model. It is generally divided into 2 main categories, namely:
- Business solutions
- Premium Subscriptions
1. Business Solutions
No doubt that Linkedin act as a one-stop platform for increasing the professional network and look for some fantastic career opportunities. Every single user on Linkedin has their own set of requirements based on which they design their profile. A user looks for new networking opportunities, connects with potential employees, performs the marketing of some new campaigns, learns new business concepts, and much more.
Business Solutions works as a collective name where it is offering some premium services to all the users such as:
- Talent Solutions
With a 65% contribution in the total revenue, a talent solution is a primary tool and service in the LinkedIn business model. This component is available with some premium recruiting tools specially designed for recruiters and the companies for further linkage in the professional exposure.
The best thing about Linkedin is its scenario to work as the job portal. Some users even visit Linkedin to hence promote their company or brand or services. It is the promotion of the brand which opens gateways for all recruiters to easily search for a required job.
In comparison with Monster Job and Indeed, Linkedin is the reliable platform for a user to improve their image being a professional worker.
- Marketing Solutions
Linkedin platform is although working as an ideal recruitment site. But at the same time, it is yet working as a social networking site for the marketers. On this medium, marketers can execute various marketing campaigns for the better promotions.
This marketing solution service yet contributes to almost 18% of entire company’s revenue, where it even allows the company to yet create the company pages. You will find a massive improvement within the vast marketing efforts by simply creating some text advertisements, or sponsored content, or even sponsored InMails.
2. Premium Subscriptions
The next category of a Linkedin business plan is related to Premium Subscriptions, which is specially designed for active users on Linkedin. With this category, users can unlock few features which are not available for normal users. With these plans, the platform will cater to the users with their specific needs.
The premium subscription plan is based on:
- Career
- Business Plus
- Sales Navigator
- Recruiter Lite
How is LinkedIn Business Model Different from Others?
When it comes to showing power in marketplaces, LinkedIn has a better approach than any other social media platform. Twitter and Facebook are having a more significant media time as compared to Linkedin. But Linkedin is unique for the reason that it serves the market with some better approaches. This social media platform has significantly boosted the corporate and professional sectors. Young people find this platform an excellent opportunity for them to build a powerful career and get high exposure in the market. In its comparison, Twitter and Facebook are a bit perky.
The Linkedin business model has the upper hand on the rest of the social networking platforms. This is because it presents a clear motive and the revenue model, which is not dependent on the advertisements. Once you start exploring this network, you won’t even feel for a second as if you are wasting your time. The whole functioning of this social media platform evolves some remarkable results which are entirely different from Twitter, Facebook, and Snapchat.
To sum up, Linkedin is not that popular in comparison to social media platforms. But it is gaining a high growth in the market for excellent professional growth. Ever since the acquisition of the Linkedin Business Model by Microsoft, it has expanded itself to a greater level.
Author bio
Gary is a cool young (by heart only) man who loves blogging and marketing, holding 7+ years of experience in the field. Testing different writing styles to engage the readers is one of the things which excites him the most. Currently, he is managing the content marketing of a logo designing company, Logozila UK which is a 360-degree I.T company. Apart from Coffee, Cake, and Pizza, his time is spent on putting in efforts to reduce weight.
