GLOBAL: LinkedIn has launched a global display advertising network that will enable B2B marketers to track its 347m registered user base and generate new business leads.
Although the social network for professionals has served ads on its own platform for some time, its new initiative will allow B2B brands to place ads across various other platforms too, Marketing Week reported.
Trials have included the involvement of brands, such as tech giants Lenovo and Samsung, and the development follows LinkedIn's $175m acquisition of Bizo, a B2B digital marking firm, in August last year.
The service is underpinned by two main products. LinkedIn's Lead Accelerator promises to improve the understanding brands can gain from visits to their websites by using tracking pixels and cookies.
LinkedIn says that most brand websites only know about 5% of their visitors and that the new service will improve that gap.
Meanwhile, LinkedIn's Network Display will use targeting insights technology to retarget visitors to third party websites and on its own platform.
"The service allows brands to reach the 95% of unknown visitors to a brand website," said Joshua Graff, senior director of LinkedIn EMEA.
"By placing a pixel on brand websites we can send messages to unknown users, that ultimately allows us to analyse them and target the right people," he explained.
"This is part of our long term strategy to connect the world's professionals," he added, in reference to the company's aim to increase its share of a global B2B ad market estimated to be worth $50bn.
Data sourced from Marketing Week; additional content by Warc staff