According to reports, LinkedIn is working on its own “lookalike audiences” feature that will allow advertisers to target users who are similar to their current customers.
LinkedIn might be a late bloomer regarding keeping up with the other platforms like Facebook or Twitter but has launched many interesting updates lately that are giving the professional networking platform a well-deserved upgrade. Recently-released features like Carousel Ads, Interest Targeting, or Sponsored Videos are adding to the platform’s appeal – especially with marketers – but the possible addition of its own lookalike audiences feature soon, may really help LinkedIn take off in 2019.
According to a recent report from Digiday, LinkedIn is working on a “lookalike audiences” feature “which would help advertisers target users who may be potential customers because they’re similar to the company’s existing customers.” Lookalike audience targeting has always been a very important feature on Facebook ads, and the addition on LinkedIn could help more marketers consider moving more of their ad spend to the platform in the near future.
However, despite LinkedIn’s latest and planned improvements (and marketers’ willingness to give it a try) advertising on the platform can still be rather expensive compared to Facebook. That is certainly something most marketers have felt when trying both advertising platforms over time.
Of course, Facebook has its drawbacks, as you can’t target by job title with the same accuracy as on LinkedIn. I am confident that advertising on LinkedIn will get cheaper over time, but for now, the increased cost is something brands will have to bear.