Microsoft recently announced in their FY20 Q2 report that LinkedIn has once again had record levels of engagement in the last three months of the year, with the number of sessions increasing by 25%. Revenue was up by 25% as well, meaning businesses are using LinkedIn for paid social advertising. The most impressive number is how many users are now using the platform – 675million. In November of last year, the platform had just announced they had 660million. This means they obtained 25million new users in the last three months of 2019. Despite all the good news about the platform, LinkedIn CEO, Jeff Weiner has decided to step down from the role.
LinkedIn CEO – Jeff Weiner
Jeff Weiner joined the company in December 2000 as CEO. But on the 6th of February 2020, he announced he would be stepping down from his role but he wouldn’t be leaving the company. In fact, Weiner will become the company’s Executive Chairman. The role will allow him to focus on one of his key areas of interest: creating economic opportunity for every member of the global workforce. The new LinkedIn CEO will come in the form of the company’s Senior Vice President of Product Ryan Rolansky.
LinkedIn’s Unique Selling Points
Since Microsoft’s acquisition of the platform in 2016, the platform has seen a steady increase in users and changes on the platform.
For example, in September 2019 LinkedIn introduced its Skills Assessment Scheme. According to the platform, 76% of professionals wish there was a way for employers to verify their skills so they stand out amongst other candidates. The tool is available to users in their skills section where the actual results are hidden and if a user fails the platform offers learning opportunities and the opportunity to sit the test again.
Of course, this is also a channel for Microsoft to reach its audience. There are multiple skills you can be assessed in from CSS to AutoCAD but in the business section, it’s clear to see that Microsoft wants to be seen as the staple suite used in businesses.
All of the most commonly used social media platforms are free to join and use. But LinkedIn is the only one that allows users to pay for a premium experience on the platform. LinkedIn offers users an initial one month free trial of their VIP service which is offered in different tiers in two different versions – business and career.
Premium Career allows the user to see more people who’ve viewed their profile, access LinkedIn learning, as well as the ability to see how their fair against the competition for a job role. Premium Business gives companies insights into their industry, see more users who have viewed their profile and to search for potential employees more easily.
The Future of LinkedIn
LinkedIn has become more community-based in recent years whilst still keeping with the professional theme of the platform. The platform has become more content curated with users being able to follow hashtags that they feel are more relevant or important to them. Businesses are now sharing rich media like photos and videos to further their outreach. Employee advocacy has become a key indicator for consumers as to whether or not they want to spend their money with a brand.
As AI technology becomes more mainstream, we will most likely start to see it being used to read LinkedIn profiles of both users and businesses. Their learning tools will likely develop to including an interview coaching aspect well. Interviews are always the hardest part of securing a job so it will be no surprise to see a full support service from C.V to interview.