With over 660 million users in more than 200 countries, LinkedIn is one of the fastest-growing social media networks that provide wide opportunities for marketers who looking to target audiences with all business categories.
- 92% of Fortune 500 companies use LinkedIn
- 77% of recruiters are using LinkedIn to hire.
- 46% of Social Media traffic is coming to B2B company sites.
- LinkedIn InMail has a 300% Higher Response Rate than normal Email.
- LinkedIn is 277% More Effective for Lead Generation
- 310 million monthly active users a month and spends 17 minutes on the platform per month.
LinkedIn Growth Rate in 2023
According to the new report from the leading marketing research firm eMarketer, the LinkedIn platform is growing faster than we expected. In 2019, the number of monthly U.S. LinkedIn users increased by 8.8% which is higher than the previous year’s estimate was just over 7%. This year, we may expect that there will be around 62.1 million U.S adult LinkedIn users which will grow 4.2% in 2021 that is 64.7 million. By the end of 2023, we expect there to be 68.8 million users access LinkedIn, forecasting by eMarketer.
LinkedIn for B2B Businesses
These new stats are based on updated membership data from parent-company Microsoft and other sources. For businesses on LinkedIn, user growth could be increasing because of ad performance and content engagement. The Microsoft-owned network has been steadily improving and targeting new business features and format options over the past few years.
Revenue wise, this business social platform continues to grow, mainly from B2B advertisers. This 2020, LinkedIn will see around $1.59 billion in ad revenues which is growing more 11.2% to $1.77 billion in 2021.
eMarketer principal analyst Jillian Ryan said, “LinkedIn continues to innovate its platform and offerings for both users and advertisers.”
“Although, when compared with social platforms like Facebook and Instagram, LinkedIn can be considered a slower follow, the social network has recently launched features like LinkedIn Live and Events,” she said. “While these new experiences aren’t unique to LinkedIn, the use cases for professional audiences can be differentiators for maintaining current users and attracting new ones.”