Many businesses are still unconvinced of how useful LinkedIn will be for them, whether employees should be encouraged to use it or whether there is any real business value in the site.
I wanted to put together some essential stats that show just how big LinkedIn has become and why you can’t afford to ignore it. In addition to stats that show the reach of the site such as 100 million users, I wanted to delve a bit deeper to find out more about who’s using it and how.
Tech and finance are the leading sectors
Research compiled in July 2011by Amodiovalerio Verde gives an indepth look at the demographic breakdown of LinkedIn users which is useful for people targeting other individuals or businesses, but most interesting out of this is the breakdown of industry sector. Tech is leading here at 15.3% of users, but interestingly this is followed closely by Finance at 12.9%. This shows that corporate social networking is also making its way into more traditional sectors, while others such as Media are coming in surprisingly low at 3.3%
More than 80% of members are decision makers
This is likely to get a lot of people’s attention, as it shows the potential to generate real business leads and referrals through LinkedIn. In an infographic released by LinkedIn to show the real make-up of LinkedIn members, they revealed that over 80% of members on there are the decision makers in an area of business in their organisation. Focused marketing efforts on LinkedIn can generate real results if you invest time in building relationships, evidenced by the significant amount of key decision makers on the site.
50% of Fortune 100 companies hire through LinkedIn
Showing just how pervasive LinkedIn has become in recruitment, this stat, released just over 10 months ago, finds that over 50% of Fortune 100 companies now use LinkedIn for their recruitment strategy. It demonstrates the value in really using LinkedIn when jobseeking and the level of companies that use this alongside more traditional recruitment methods. In addition, top execs from all Fortune 500 companies are on LinkedIn, proving that it’s an invaluable business tool across the board at all levels
62% log in from home
This is an interesting stat, pulled together for the UK specifically. The findings released, revealed that the vast majority of time spent accessing LinkedIn is done from home – at 62%, with 38% logging in from work. This is not necessarily how you would expect LinkedIn to be used and it could suggest that there is a large mix of jobseekers and small business owners on the site, who would typically use it from home. I suspect what’s also at play here is people that are covertly looking for a new job without wanting to be caught at work, so they build out their profile and network at home.
Sales jobs lead the pack
As you might expect, sales is the leading job function on LinkedIn in terms of active members, as shown on the image below. There are 6,080,000 members on LinkedIn that work in sales, followed by academics at 5,277,000 and admin at 5,303k. To put it in the context of LinkedIn’s 100 million total members, over 6% of members are working within sales. As a b2b tool it shows there’s a lot of people on there looking for business in a crowded marketplace. If you want LinkedIn to work for you in terms of generating revenue, you’ll need to work hard on your relationships and community to stand out from the crowd :
Editor’s note: Ok, so that last one was a joke…