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LinkedIn Ads For SaaS: Everything You Need To Know To Book Demos, Free Trials and Scaling Your MRR

On this episode of the podcast, Dean Denny shares practical insights on maximizing the potential of LinkedIn ads for B2B SaaS businesses. He discusses strategies for demand generation and lead generation campaigns, emphasizing the importance of careful consideration of unit economics. Dean highlights targeting options, campaign setup, and optimization techniques, stressing the value of clear targeting, lead forms, and gated content for effective lead generation. He also emphasizes the significance of tracking conversions using Google tags and the LinkedIn insights tag to enhance campaign effectiveness.

Timestamp:

[00:00:04] SaaS marketing podcast by Dean Denny.

[00:03:32] LinkedIn ideal for B2B SaaS platforms.

[00:06:28] LinkedIn ads for B2B sales growth.

[00:09:54] Increase video views, drive traffic, target ICP.

[00:13:40] Build lead magnet, invest in landing page, optimize LinkedIn ads.

 

Lessons Learned from the Podcast

  1. LinkedIn’s Potential for B2B Growth: Recognize LinkedIn as a potent platform for B2B businesses to acquire quality leads, trials, demos, and recurring revenue due to its professional user base and robust targeting options.

  2. Cost-Effectiveness Alignment: Ensure that your average order value (AOV) or customer acquisition costs (CAC) align with LinkedIn’s higher traffic costs to achieve a reasonable return on investment, especially for businesses employing a sales-led growth approach.

  3. Strategic Objective Differentiation: Understand the distinction between demand generation (building brand awareness and engagement) and lead generation (booking demos and filling the sales pipeline), tailoring campaigns and assets accordingly to meet specific business objectives.

  4. Effective Targeting and Optimization: Utilize LinkedIn’s diverse targeting options based on job titles, industries, company size, etc., and optimize campaigns based on your ideal customer profile (ICP) to maximize results and minimize wasted ad spend.

  5. Continuous Monitoring and Adaptation: Implement proper tracking mechanisms, monitor campaign performance regularly, analyze key metrics, and adjust strategies as needed to optimize results, emphasizing continuous learning and improvement for sustained growth.


This is Open Source Growth, Australia’s number one SaaS marketing podcast hosted by me, Dean Denny, founder and director of Owendenny Digital. Get ready to deep dive into a world of direct response advertising. Unlock the mysteries of digital marketing, master the art of copywriting and drive massive revenue growth with cutting edge customer acquisition strategies, from product led growth to sales led growth. We’ve got it all covered, and that’s not all.

Join us as we sit down with some of the brightest minds in our industries, founders, CMOs who’ve been where you are and have made it to the other side with stories to tell and wisdom to share.

We’re not just about the strategies in the how to’s, we’re here to fuel your drive with a heavy dose of motivation because in the world of SaaS, it’s not about knowing the path. It’s about charging down with all you’ve got. Whether you’re looking to double, triple, or even 10X your SaaS company this year, Open Source Growth is your ticket to the big leagues.

So plug in, turn up the volume, and let’s get your SaaS rocketing to new heights. Because here it’s not just growth. It’s exponential growth served with a side of fun and a sprinkle of the extraordinary.

Welcome to Open Source Growth. Let the adventure begin.


Hey, how are you going? It’s Dean here. Welcome to Open Source Growth.

And in today’s episode, I want to give you the lowdown on running LinkedIn ads for your SaaS business. I want to give you everything that you need to know. To book demos, free trials and to scale your monthly recurring revenue. So if you’re at home, pick up a pen, get your journal or a piece of paper or get ready to tap out some notes on your notepad. Purely because of the fact that I want to give you so much here that you can literally get straight to it and generate leads by the end of this call.

Now, let’s just give a brief overview of LinkedIn and talk about exactly why you would even consider running LinkedIn ads for your SaaS business now? LinkedIn, as we all know is essentially the Facebook for professionals. Every single person who has a job or has some form of business benefits from having a LinkedIn profile.

LinkedIn profiles for the users enable users to share their professional journey. Enables them to prospect for new opportunities whether it be a new jobs or to go about acquiring new customers. If you’re a sales rep and enables you to connect and follow other people’s careers.

There’s a very social element to see like what certain businesses are doing or what certain teams inside of businesses are doing there. It’s a place where, social and societal issues are discussed around the way we do work and so many different things.

LinkedIn has truly evolved over the many years. And, it was only up until, about, I think it was about seven years ago when the LinkedIn ads platform came about. I might even do a quick Google search whilst I’m in this podcast to tell you exactly when LinkedIn ads became a thing. And LinkedIn ads gave businesses who offer mostly business to business services the opportunity to target your ideal customer profiles in many different ways, shapes or forms.

And what LinkedIn has as a platform is quite similar to Facebook in many different ways, but there are some key nuances that you need to know before you get into it. Now, with over 700 million people on LinkedIn, LinkedIn can be a gold mine for your SaaS business to generate those quality leads, trials, demos, and ultimately monthly recurring revenue.

But how do you navigate this vast ocean of potential without getting lost in the sea of complexities? Now if you have a SaaS business, this platform is fantastic.

If it is a B2B platform. So a B2B SaaS platform, a B2B SaaS platform could be something like Monday.com. At a larger level, it could be like canva.com, but it’s not a tool such as Strava, which is like an online athlete tracking tool, which goes directly to the consumer. So if you have a business that is B2B in nature that you sell from business, your business sells to another business to provide a service, to help their business, to run. LinkedIn is something you really need to explore in your business.

The second thing, and this is like any ad platform that we recommend to our clients here at Owendenny is that the unit economics need to make sense now.

From my experience, from what I have seen. LinkedIn traffic costs across the board is generally a lot more expensive than other platforms such as Facebook or TikTok or Google display ads. And because the traffic costs are so high, you need to ensure that your average order value. So your monthly average order value of your SaaS platform can sustain the costs or that, your customer acquisition costs and your customer payback period. To ensure that you’re able to get a good return in a reasonable time, according to your own internal company benchmarks.

If you are running LinkedIn ads and you say your average order value for our customer is. I don’t know, maybe you just, it’s $50 a month. LinkedIn ads is probably not going to be the place that you need to go to, unless you can confirm that people are using your software for 10 or 20 years. You’re running LinkedIn ads to go about acquiring a customer for a 50 or a 50, or even a 20, or even as much as a hundred dollar a month platform, if that’s your average order value.

Not like the peak value or the low value. I would be earning on the side of caution. As to whether we use a LinkedIn ads strategy.

Just to give you some context here, what we often see with LinkedIn ads is that if you are a product led company, and you are expecting users to self-serve and then use the platform and scale up that way. We’ve found that LinkedIn ads are not the perfect way for your SaaS business to grow. In fact, it’s too cost prohibitive. But again, if you have a product led approach, which drives people to spend over 300 to $500 a month with you, LinkedIn ads could be a winner. But at this level, from what we see, LinkedIn is the better platform for those who are optimizing and using a sales led approach where the whole goal of your revenue team is to book demos.

So, if you have a sales led growth approach, so you’ve got a much higher average order value per year. LinkedIn ads is definitely the way to make things happen. So now that we’ve got that out of the way, LinkedIn ads is amazing for B2B businesses who offer a sales led growth approach. To book the demos, to get things to work. What do you need to make this work?

So with LinkedIn ads, what we do find is that there are two or three different ways to approach the cat. You can go down the demand generation approach, or you can take the lead generation approach. With demand generation, there are so many different ways you can skin this cat and there’s nothing wrong with any of them. But when you do use the demand generation approach, you just need to be very careful about how you go about optimizing for your ads.

Now with LinkedIn, there’s amazing things that you can do when it comes to your demand generation play. You can upload audiences from email lists, you can then create, look like audiences, which essentially duplicates and re- creates additional prospects based on the list that you upload. You can target via companies you can target via third-party data.

There’s other means of targeting. You can also target people by their profession or where they live, or how old are they? What level of management they are in what companies they belong to. There is so many different ways you can go about targeting there’s different optimization objectives as well with LinkedIn, you can build brand awareness.

You can generate website visits, you can do engagement ads, video views, lead generation website conversion campaigns as job application campaigns as well. There’s just so much stuff here. So before I get like way too excited and confused the living daylights out of you on this podcast today, I want to talk quickly about if you’re going down the demand generation approach with demand generation, you’re building brand awareness a lot of the time, but you’re also building engagement on your LinkedIn.

Now. You generally, when you run a demand generation campaign, you’re building an obscene amount of awareness, and you’re trying to build an obscene amount of engagement around the problem that you serve. So when it comes to your demand generation campaigns being wildly successful to build out those high intent revenue opportunities, we need to increase the video views of your organic content that performs well. We need to create engagement on that organic content that performs well, and we need to drive traffic to your website to expand upon the problems here. Now as a rule of thumb that sits within the consideration objectives within LinkedIn.

And if you’re going to go about running and creating copy and creating creatives for that, go for it right now. And then with demand generation, brand awareness, even though it’s not like a direct, let’s go about booking calendar things right here. Right now you do need to consider this now with a demand generation campaign, because it’s multifaceted.

You also need to consider a hurricane. How are we going to capture these leads? And by setting up either a lead generation campaign or website conversions campaign, you can go about capturing those leads. Now. When you want to use. I’ve say a lead generation lead form like on Facebook, LinkedIn has this offer and you can go about utilizing this within the lead generation section of LinkedIn.

You can set these campaigns up beautifully. I can get moving right away and they can really go about generating some amazing results for you. Using LinkedIn ads, you could also send people to your own landing pages using website, conversion campaigns, and then tracking them based on the thank you page.

So that works really well. So again, demand generation you use essentially all of the different objective style campaigns, and you can do all the different types of optimization here. As well. Now again, when it comes to then going about targeting your ICP, you need to be clear cut with who you target.

Do you know the demographics? Do you know their psychographics? And then do you have. Email lists or look like audiences that you can build. And ensure that you can get them straight in there. To ensure that you’re targeting your right people. Like the one thing that LinkedIn has going forward and I have to give it, its props is that you can really go about targeting via job title and you can target people in particular industries.

And that’s really beneficial. Especially if you are looking to go about working with a particular avatar or something like that. So that’s why LinkedIn is really powerful. In terms of the assets that you need to pull off a demand generation campaign, that’s going to be beyond the scope of this one podcast. So before we divert into the lead generation campaign, what you do need, what you don’t need, et cetera, et cetera.

If you want any more information on demand generation, feel free to hit me up. My email is dean.denny@owendenny.com . We can set up a call and go through the ins and outs of demand gen together. But now with thinking of lead generation, what would we do differently? So if you are looking to go about booking demos and leads, to essentially fill your pipeline full. So your sales teams can get right in there. LinkedIn is an absolute, no brainer for those in the B2B environments, like marketing agencies. Yes, companies, whatever. Now. What campaigns do you roll out?

First things first. If you haven’t got the landing pages rollout, a lead generation campaign, and just get some lead forms going to ensure that you can validate your concept and your idea. When it comes to building out a lead generation campaign LinkedIn does really well with gated content.

So if you are looking at building a lead magnet or an e-book or a case study, or a free report or whatever to build out your email list. Get into it with a lead form approach and get the thing tested that way. So then you can validate which of your lead magnet ideas are actually going to do, go about building out your database. Once you identify what is actually working there. Then go invest the money into creating a proper landing page. With all the things that you need on that landing page, all the bells and whistles.

So you can then give it a more cohesive customer experience. We’ll increase the quality of your leads and everything will be much better for you. So again, that’s what I would consider doing right away. If I was going to go about building out a campaign now, in terms of actually booking. The those demo calls and things like that two approaches capture the phone number, so you can get an then use your SDR or your sales development representative. To pick up the phone and close the deal. But if you are sending them to a particular landing page, you can then go about securing them into a demo call. On the upsell page, it’s a very waterfall Ryan Deiss, digital marketer. King Kong funnel.

You know what I’m saying? If you do need some additional assistance with this, again, hit me up dean.denny@owendenny.com. and we’ll take care of itself on that with us. So again, that’s there, the assets you need in order to make things work.

Now, when it comes to getting your LinkedIn ads to work. When it comes to writing these ads, just focus on the pain points. Don’t go too much. Into the super long form ads. People are on LinkedIn. They’re in a hurry. They’re flicking through it. They’re really not there to spend time, relax and engage. I love long form ads. It pains me to go about writing short form ads for my own personal LinkedIn campaigns. But that’s generally what I would. Articulate here.

If you are a company, just get straight to the point. And, keep the content short. The next thing that I would be recommending you do with these creatives as well, is that keep them short again, 30 seconds to a minute. For the videos use very, very clear graphics, which can really demonstrate the either before or after, or, demonstrate what the promised land looks like. In terms of running these campaigns and managing these campaigns ensure that before you hit the button, that you have very realistic customer acquisition costs and average order values. All that stuff.

None of that beforehand. When we optimize LinkedIn campaigns, we don’t really like to do more than two to five optimizations a week. So please don’t go about fiddling with your campaigns, especially when they just kick off. A lot of the LinkedIn reps that we work with recommend that you don’t actually touch things from the first two, even three weeks of running a campaign. Again, we think that’s a little bit haphazard. But again, we like to ensure that we don’t over optimize things when things kick off, because LinkedIn does take a while to get going. In terms of the conversions and stuff that you need.

You do need to go about implementing your LinkedIn conversion so they will need to be a full Google tag manager tracking, set up to make this work effectively. And, the other thing you’ll need to do apart from tracking your conversions individually is implementing the LinkedIn insights tag. Now, this is its own unique superpower.

It’s super, it’s a little data warehouse of all the LinkedIn people who hit your website. And essentially, if you’ve got the LinkedIn insights tag, you can then unpack who is actually hitting your website, where are they coming from? What sort of industry are they in, et cetera, et cetera, it’s really going to make a massive difference to you and the intelligence that you. Acquire to ensure that things are phenomenal.

When it comes to getting things moving again inside of your businesses. Guys, I think that’s all I need to really tell you today. Best of luck with running LinkedIn ads. And if you do need assistance running your LinkedIn ads, feel free to hit me up dean.denny@owendenny.com And we can go through what you’re doing inside of your business to see how we can go about scaling up your demos, your free trials and scaling your MRR.

So let me know if we can help you out and I hope you enjoy today. Talk soon!


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