{"id":5060,"date":"2020-06-10T08:50:00","date_gmt":"2020-06-10T12:50:00","guid":{"rendered":"http:\/blog\/story\/how-to-use-linkedin-for-business-development\/"},"modified":"2023-01-03T14:43:38","modified_gmt":"2023-01-03T19:43:38","slug":"how-to-use-linkedin-for-business-development","status":"publish","type":"post","link":"https:\/\/hingemarketing.com\/blog\/story\/how-to-use-linkedin-for-business-development","title":{"rendered":"The New Age of Referral: Leveraging LinkedIn for Business Development"},"content":{"rendered":"

Professional services firms have historically relied heavily on referrals to generate new business. On average, nearly 70% of buyers made a referral<\/a> for their service provider. Interestingly enough, this number has decreased nearly 5% since 2013.<\/span><\/p>\n

So what gives?<\/span><\/p>\n

Even though recent research shows that clients are more willing to be referral sources for their service providers, they\u2019re actually making fewer referrals. The key takeaway is the increase in alternative sources for information.<\/span><\/p>\n

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Source: Inside the Buyer’s Brain \u2014 Second Edition (2018)<\/p><\/div>\n

Prospects are using other methods to find service providers rather than asking a friend or a colleague for a referral. A recent study into the habits of professional services buyers showed that more than 70% leveraged digital techniques when evaluating their service providers.<\/span><\/p>\n

The importance of a <\/span>good old fashioned referral<\/span><\/i> has not gone away. It\u2019s just that digital marketing has outgrown traditional marketing in many important ways.<\/span><\/p>\n

Download the LinkedIn Guide for Professional Services Executives<\/a><\/h2>\n

What does this have to do with LinkedIn?<\/span><\/h2>\n

Social media platforms<\/span><\/a>, like LinkedIn, have revolutionized networking by providing online venues for building relationships and demonstrating relevant experience.<\/span><\/p>\n

It just so happens to be that the number one criteria when a buyer is evaluating a professional service provider is understanding expertise through past performance (>35%). For a firm, and those representing the business, this experience can take the form of project examples, client testimonials, references and case studies, to name a few. Among a variety of features, LinkedIn provides a forum for all of these elements on a standard profile page and they need to be considered when developing yours.<\/span><\/p>\n

If you aren\u2019t yet maximizing social media<\/span><\/a>, or are just taking your first steps into it, these types of data points may bring on a sense of nausea. After all, they reveal an inconvenient truth\u2014if you want to grow your business, it\u2019s time to get serious about social media marketing.<\/span><\/p>\n

Make Your Move<\/span><\/h2>\n

So, how should you get started? Long-term you\u2019ll discover that layering several social media platforms together as part of a complete digital strategy will give you the best results. <\/span><\/p>\n

However, it\u2019s best to begin with a solid foundation on the number one social media network for professional service firms\u2014LinkedIn. With more than 575 million members world-wide, LinkedIn provides a platform for today\u2019s workforce to provide thought provoking conversation on the latest ideas and trends, networking among a targeted list of peers and prospects, and best yet, a source for the new age of referral marketing.<\/span><\/p>\n

After building a strong LinkedIn profile for each of your key business development team members<\/span><\/a>, use the following three steps as a guide to take your game to the next level:<\/span><\/p>\n

1)\u00a0<\/strong>Win The Participation Trophy<\/b><\/p>\n

You will meet people who have shared professional interests by joining in on the conversation. As a best practice, <\/span>we recommend taking just 15 minutes out of your day to engage and participate in relevant LinkedIn News Feed and Groups discussions<\/span><\/a>. Before choosing groups, decide who in your target audience you want to reach. Remember, in B2B sales there are usually multiple people who influence the buying decision.<\/span><\/p>\n

You\u2019ll want to find groups that appeal to each of the people who play a role in the decision-making process, broadening your reach. For example, if your firm helps both sales and marketing professionals, you may need to join both the \u2018Sales Best Practices\u2019 group and the \u2018Content Strategy\u2019 group.<\/span><\/p>\n

To discover the groups in which your decision-makers and influencers participate, look at the profiles of clients and prospects, the types that you want more of. By scrolling down to the bottom and expanding on their Interests, you\u2019ll find a list of groups to which they belong. <\/span><\/p>\n


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Check out these groups to determine which ones are the most active. Ask yourself, Is there actual conversation going on? <\/span><\/p>\n

Or is this group just a receptacle for someone posting an offer to provide outsourced SEO for $199\/month\u2026 every 15 minutes?<\/span><\/p>\n

The more engagement that is present, the more likely it is that you\u2019ll be able to find ones to which you can add value and show your thought leadership and meet new prospects.<\/span><\/p>\n

You can get your feet wet in a group by answering questions or commenting on topics other group members have raised. Alternatively, to gain even greater visibility, you can initiate a discussion.<\/span><\/p>\n

As noted, just like with live networking, leading a discussion with a sales pitch will put a quick end to conversations (and might even get you banned from a group). So, if you link to content to start a conversation, don\u2019t be self-promotional. Instead, mix other blog posts, articles, and content in with content your firm produces. A good guideline is four pieces of content curated from other sources to one of your own.<\/span><\/p>\n

By bringing up relevant topics and discussing the key issues your prospects and clients are grappling with, you can establish your expertise as a thought leader and best demonstrate that all important expertise.<\/span><\/p>\n

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See also: How I Doubled My LinkedIn Connections in 90 Days<\/span><\/a><\/p>\n<\/div>\n

2)\u00a0<\/strong>Make The Next Steps Easy<\/b><\/p>\n

There are several ways that LinkedIn can also drive traffic to your site without spending a dime. And we have seen that more traffic leads to more conversions, such as prospects downloading gated content and completing contact forms, which results in more new business opportunities. How does it work:<\/span><\/p>\n