Launched in 2003, the business oriented social networking service has acquired over 259 million users over a period of 10 years. The California based online company, as of 2013 has obtained an income of over 26 million US dollars. The social media company has been growing expeditiously and performing better than most internet companies, went public in recent years. The company primarily focuses on expanding professional network featuring a user’s career information, skills and academic background has paved a way for companies to look for potential employees through it. Very recently,LinkedIn bought slideshow presentation platform Slideshare for $119 million and also acquired email startup Rapportive. The company is fixated on new partnerships that will permit better professional connections and content for its worldwide network.
User base of LinkedIn
As of 2013, LinkedIn has more than 259 million members in over 200 countries and territories. Statistics show that memberships grow by approximately 2 new members every second. LinkedIn is growing rapidly across the globe; users outside the U.S. now make up 64% of accruing users. According to ComScore, LinkedIn and Slideshare now have more than 170.4 million monthly different visitors, and ranks as the 22nd most visited web property in the world. Data reveals that about 20% of the global demography consists of adults. And 61% of all social media users actively use LinkedIn. Male users account for a 54% of the total users and 46% being female. An overwhelming of 82% of the members are more confident in the professional information received on LinkedIn compared to other social networks.
Top level executives: 22% use LinkedIn for industry networking, while 20% use it for promoting their business. 70% of people use LinkedIn for job hunting, 80% use it as primary recruitment tool and 40% of Fortune 100 companies use LinkedIn for recruitment.
Middle Management: 24% use LinkedIn to keep in touch or socialize. Another 24% are involved in job search. More than 80% of the members are company decision makers
61% of the users use the basic LinkedIn account. While a mere 39% users have a premium account, which is likely that 1 out of 10 opt for a paid LinkedIn account. An interesting feature of the paid LinkedIn account is the LinkedIn inmail– ability to message potential employers and contact them directly.LinkedIn has been adding corporate clients rapidly at double-digit rates consistently for a number of quarters. LinkedIn added more than 1,700 corporate customers in 1Q13, which brings the total number of corporate customers on LinkedIn to more than 18,000. Some of these clients spend a lot of money on LinkedIn’s services, which translate into a steady stream of increasing profits.
LinkedIn offers a number of dynamic features at a personal as well as professional. So what can you do with LinkedIn?
Establish your professional profile- career information, position, experience and skills. Adding recommendation (provided by your peers and colleagues) makes it more trustworthy.
Find experts and ideas and resolve in unique business challenges. Stay in touch with colleagues and friends and most importantly an excellent platform for exploring job opportunities. Users can also follow different companies and receive notifications about the new joining and offers available. LinkedIn is an excellent place for marketing your business, developing advertisement and attaining highly targetable audience.
Research show top favorite features of LinkedIn involves –
- Researching other companies which is includes 75% of the users.
- 68% of the users explore the social network to reconnect with past business associates.
- 45% go for face to face networking opportunities.
Linkedin At Its Best
LinkedIn has entrenched itself as the leading firm in the professional networking category by making the most out of its first-mover status. A stunning statistics show that more than 22 million Americans used social networks to find their most recent job opportunity. You can imagine its impact on the rest of the 199 countries! LinkedIn has a solid business model where revenue is flowing in from three different streams, chiefly Premium subscriptions, Marketing solutions and Talent solutions. Nevertheless, LinkedIn broadly remains a recruitment portal with its hiring solutions business, which makes up more than half of the credits for the company.