LinkedIn Announces Q3 Results, Hits 400 Million Members Worldwide

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LinkedIn has made two big announcements, reporting its Q3 numbers, which show steady increases in both revenue (+$ 68m) and users (+16m) on the previous period, while also celebrating the fact that the platform now has more than 400 million members worldwide.

While the Q3 numbers show total users had reached 396 million, a follow-up post has revised that figure up to the full 400 million as of today.

LinkedIn Announces Q3 Results, Hits 400 Million Members Worldwide | Social Media TodayAs shown in the graph, LinkedIn also saw a jump in unique visits last quarter and a significant boost in overall member page views.

In terms of Q3 revenue, LinkedIn hit $ 780 for the quarter, including $ 41 million from lynda.com.

LinkedIn Announces Q3 Results, Hits 400 Million Members Worldwide | Social Media TodayThe figures represent an increase of 37% on the same period in 2014 and continue the upward trend from their last result.

In the accompanying statements, LinkedIn noted that it will “remain focused on pursuing long-term investments to achieve future growth”.

Revenue from their Talent Solutions arm was up 46% on last year, Marketing Solutions +28% and Premium Subscriptions have continued to increase, up 21% on 2014.

On their growth to 400 million users, LinkedIn has shared a range of stats for their various products, highlighting the rise in user engagement:

Every day, we’re inspired by members like you. We’ve seen you make billions of connections this past year alone, and leverage these connections to start companiesinspire the next generation of leaders, even change the world for good. To share your rich knowledge and experiences, more than 1 million members have published long form posts and 19.7 million+ SlideShares have been uploaded. And 40% of LinkedIn members are using mobile to look for new jobs – with many landing their dream jobs and achieving their career aspirations through LinkedIn.”

The platform has announced a series of changes and updates in recent months, including a re-vamp of their oft-criticized groups and an update to their on-platform messaging functionality, providing users with new ways to connect. Recently, at their ‘Talent Connect’ event in Anaheim, LinkedIn also revealed their plans for a new, upgraded recruitment tool which would use the platform’s masses of professional data to better detect and screen job candidates, based on the profiles of your ideal employees. That development could be a major shift in the long-term, and is one the first times LinkedIn has sought to utilize their data in an algorithmic way for recruiting purposes. The process could very well change the way recruitment is conducted, though it’s only in its early stages.  

LinkedIn also announced earlier this week that they’ve entered into a deal with EY (Ernst and Young) on a go-to market alliance that will help the company accelerate its B2B market growth.

The EY organization will integrate LinkedIn’s Sales Navigator into its own operations by providing tens of thousands of EY people with the product. EY will use its own experience with LinkedIn’s Sales Navigator to develop further the joint service offering.”

The strategic alliance will offer services to help more companies around the world use technology, social networks and innovative sales techniques to empower their go-to-market efforts. The deal, LinkedIn notes, is the largest customer deal in our history on the Sales Navigator platform. 

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4 Strategies For Retaining Monthly Subscription Members

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Monthly subscription programs can be greatly beneficial for a company’s bottom line – the programs provide a baseline monthly income and a reliable starting point for your budget.

Unfortunately, membership programs also have high attrition rates, and things can vary more from month to month than most businesses would prefer, as members drop out or change to other programs. This undermines precisely what makes subscription programs so valuable.

Luckily, there are a number of ways you can keep subscribers loyal without breaking the bank or endlessly campaigning to retain them. Here are a four tips to strengthen loyalty within your subscription program.

1. Get Personal

One thing that loyal customers say about the companies they stick with is that those companies make an effort to get to know them. This may sound like a time consuming effort, but in fact, all you need is the illusion of a personal relationship, and all that takes is a simple gesture. In food service, for example, waiters and waitresses who bring tables a second set of mints are able to greatly increase their tips. Even if they do this for every table, each table feels like they are someone special.

Of course, you can’t send your subscription members a mint in the mail and expect magic to happen, but there are other ways to make your business more personal. For example, subscription services that offer a few different levels of service or three different subcategories of products often have greater customer loyalty than companies that only offer one subscription package. Even if a package isn’t exactly what they want, customers are more likely to feel like they are getting a service that fit their needs with this format.

2. Make Billing Transparent

When customers leave a membership program, one of the most common reasons they cite is dissatisfaction with renewal practices or recurring bills. Of course, recurring charges are a necessary part of subscription programs, but some programs handle these charges more effectively than others. Customers tend to respond better to those companies that send monthly invoices for their subscriptions than those who just send the charge straight to the member’s credit card. This keeps the subscription charge from falling into the category of “out of sight, out of mind.”

3. Be Social

Since monthly subscription services don’t have brick and mortar storefronts, customers need a different way to relate to the business providing them a service. Without that relationship, loyalty falters and customers drop their subscriptions. One way to keep your customers in conversation with your business is by using social media. Twitter is a great platform that allows you to engage while keeping those communications brief. Your company doesn’t need to be a social butterfly, but it does need to drop in on the party.

4. Offer Rewards

Everyone likes rewards – it’s just part of how we’re wired – and obviously your customers fall into this category of “everyone.” This is why you should always link your subscription services to a reward program. It doesn’t need to be elaborate; a simple point system will do. Accumulate enough points and receive a small gift or a one month upgrade.

In fact, when it comes to reward programs, you don’t even need to automatically offer these points. Instead, you can make them contingent on reciprocation – to get points your subscribers need to tweet a picture with your company mentioned or tag your business in a Facebook photo. These points can require a little more effort to track, but they’re also part of a structure that contributes to your relationship with the customer. Rewards then become another aspect of your communication strategy.

Stay Loyal
It only takes a few simple gestures to establish a long-term relationship with your subscription program members, but you have to stay consistent. Maintain a branded image, keep your communication on topic, and forge connections with other relevant businesses. If you stay loyal to your customer relationships, they are more likely to stay loyal to you.

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