Since its launch in 2003, LinkedIn has become the world’s largest professional networking platform, and now offers a range of business-oriented services. As one of the Web’s modern-day giants, LinkedIn has access to extensive data on its users and prospects—but wanted to up the ante for business-to-business (B2B) sales by using data even more.
The result was a simple data strategy that helped LinkedIn boost business-services revenue by 85% year over year. And a key component of that strategy was a new, wildly simple sales analytics platform that LinkedIn built with Tableau.
Read this whitepaper to find out:
- The 3 simple values that influenced LinkedIn’s data strategy from the start.
- How data from multiple sources helps LinkedIn prioritize which leads to pursue.
- The amount of savings that the company experienced by putting intuitive data in the hands of its salespeople.
- What Event-Based Account Management (eBAM) is, and how it improved conversion rates and ROI in the LinkedIn’s B2B sector.
We've also pulled out the first several pages of the whitepaper for you to read. Download the PDF on the right to read the rest.
The Simple Data Strategy that Helped LinkedIn Boost Business-Services Revenue by 85%
Every day, millions of users log in to LinkedIn.com. From businesses to students to professionals either actively seeking employment or simply growing their networks, LinkedIn’s users have a wide variety of backgrounds and needs.
Since its launch in 2003, LinkedIn has become the world’s largest professional networking platform. It now offers a range of business-oriented services, from recruiting solutions to capabilities for growing brand recognition.
As one of the Web’s modern-day giants, LinkedIn has access to extensive data, including site usage statistics, prospect behavior, and general industry trends. But LinkedIn knows as well as any leader that data isn't valuable until it’s understood—and then used to drive action.
Though millions of companies have profiles on LinkedIn.com, thought leaders at LinkedIn wanted to up the ante for B2B sales by using more data. But rather than throw all of their stats at the sales team, they decided instead to develop a new, wildly simple sales analytics platform. With a focus on just three core values, two measurable dimensions, and a user-friendly front end, the new platform has guided insight-to-action so well that LinkedIn’s business-services revenue increased by 85 percent year over year.
- Three key values to start it all.
- Billions of data points, two simple dimensions.
- Design so simple it’s like magic.
- Identifying the events that matter.
1. Three Key Values to Start It All
“We think simplicity really matters,” says James Raybould, the Senior Director of
Marketing at LinkedIn. But while simplicity might have the appearance of laziness, it’s
usually the effect of painstakingly planned details.
In the case of LinkedIn, the design of its new sales analytics platform began with three carefully selected core values. These three elements were paramount to the platform’s design, and continue to help the sales team act upon various data—rather than spending all of its time crunching it.
The three key values that started it all are:
- The account lens: LinkedIn made a deliberate choice to view all leads from the lens of the full account—rather than seeing each prospect as a separate person. But that doesn't indicate a depersonalized or antisocial perspective. Rather, LinkedIn sees individuals as decision-makers or buyers who act on behalf of companies—and approaches its data in a way that keeps those connections clear.
- Analytics: LinkedIn’s strategy also focused on pooling multiple data streams. With relevant information spread throughout Salesforce, Teradata, Oracle, Hadoop, and other data environments, LinkedIn wanted its sales team to have just one portal to reach it all. Analysis would become simpler, and more time could be spent making decisions with available data.
- Automation: Clear information and searchable tools aren’t just for customers. LinkedIn was helping 238 million users navigate business networks with powerful automation and a simple front end. Why not make a similar product for the sales team to navigate data with? LinkedIn knew it would help the team act upon information more quickly—and with better results.
Want to read more? Download the rest of the whitepaper!