LinkedIn has been one of the major players in the constantly changing environment of social media over the past decade. But, what is the data behind the facts? What makes LinkedIn so important in your digital toolkit as a business owner? And what does the future hold for a platform such as LinkedIn for business owners?
Since LinkedIn was first discovered by Reid Hoffman and several of Paypal's executive team in 2003, the social networking platform has gradually been growing into a monolith. Data from Hootsuite suggests that in 2020 there have been 675 million active users per month. This has exploded substantially since their first year in operation when LinkedIn had a total membership of almost 1.3 million.
When we look at the data further we can see that LinkedIn is more than just a platform. It's providing users with a gateway to digitally network with others and show their career journey.
This has now been further enhanced with the introduction of LinkedIn stories, giving many professionals the ability to position themselves through self-promotion. Between the exponential growth of LinkedIn and changes in their platform, more than ever business owners need to consider using it as a platform to promote their business.
But, is this turning into a double-edged sword? Data from the American Psychological Association notes that there is a correlation between increased levels of narcissism and the use of social media usage, though it's noted that the correlation can be influenced based on culture (McCain & Campbell: 2018). Further, it's discussed by McCain & Campbell (2018) that positive correlations are shown between taking photos for social media usage and narcissism.
What this means for business owners, is that having a LinkedIn page does not just mean taking images as a way of completing a raft of vanity metrics to make employees feel good. Ultimately it is about finding ways to improve the bottom line using quality content, that will engage and ultimately persuade the right decision-makers that are currently using LinkedIn.
Our view is that given LinkedIn is one of the major players in social media, it's a no-brainer for business owners to launch their own page to network and find business. But, business owners need to be cautious in this digital world, as every user is not how their profile portrays themself to be.
At Deniro Digital we provide digital advertising and social media management for platforms such as LinkedIn. Feel free to reach out to our team with anything social media related including LinkedIn, Facebook or Instagram.
(A big thank you to Benjamin Dada from Unsplash for the image)