recruiting tools

LinkedIn’s Massive Opportunity In The Social Recruiting Market

Source: https://intelligence.businessinsider.com/welcome

LinkedIn’s revenue from Talent Solutions is growing at a faster rate than Premium Subscriptions and Marketing Solutions, according to quarterly earnings.

Talent Solutions — which are hiring tools that LinkedIn sells to recruiters — accounted for 48% (or $58.6 million) of the company’s total revenue in the second quarter of 2011. In the second quarter of 2013, Talent Solutions brought in 56% (or $205.1 million) of total revenue.

For comparison, Marketing Solutions — which includes ad space sold by LinkedIn — accounted for 32% (or $38.6 million) of total revenue two years ago, but just 23.5% (or $85.6 million) today.

Meanwhile, Facebook just reported its best quarter yet in terms of ad revenue.

LinkedIn stated in one of its investor presentations that the addressable market size for worldwide talent acquisition and staffing services is $27 billion. Keep in mind, this number includes revenues from recruitment agencies, but if LinkedIn’s Talent Solutions become ubiquitous in that industry, it gives you a sense of the demand for social media-based recruiting tools.

Revenue generated from Premium Subscriptions has grown steadily, but has not fluctuated from its 20% stake in total revenue.

Download the chart and data in Excel.

BII linkedin revenue sources

 


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Tuesday, August 27th, 2013 news No Comments

LinkedIn CEO Jeff Weiner Just Revealed A Lot Of Amazing Facts About LinkedIn’s Growth (LNKD)

Source: http://www.businessinsider.com/linkedin-ceo-jeff-weiner-enterprise-growth-2012-9

jeff weiner linkedin

LinkedIn CEO Jeff Weiner just offered an amazing level of detail about LinkedIn’s business in an interview at the Citi Technology Conference.

LinkedIn is really targeting enterprises. Weiner wants to grow revenue by getting more customers, instead of raising prices for existing customers, at least for his flagship Recruiter product, he said.

That’s a more than reasonable idea, given that LinkedIn gave itself a pretty good price hike over a year ago.

But the company is also expanding its breath in every other way possible, so it can roll out new products to the enterprise too (plus other new users, like students).

LinkedIn is trying to grab the lion’s share of a $27 billion market for recruiting tools. Here’s how Weiner said it is doing so far:

  • Its flagship product, Recruiter, sells for $8,000/year per seat (per recruiter using it). That price was raised from rom $6,000 per seat and he’s not thinking of raising it again anytime soon (though he left the door open).
  • LinkedIn currently has 12,000 enterprise customers.
  • Some companies, like Citi and IBM, have over half a million followers of their company profiles on LinkedIn. (These might be employees, competitors, job seekers, or anyone else interested in the company.)
  • Its biggest enterprise customers, Weiner says, “are spending on the order of millions of dollars” a year with LinkedIn. On the other end, small companies might spend $25 a month.
  • LinkedIn now has 175 million members, worldwide and is seeing two new signups every second. There are over 600 million white-collar workers worldwide, so it still has a way to grow.
  • LinkedIn has more than 1 million groups, ranging in size from two people to more than a quarter of a million.
  • Over 75,000 developers are building applications for LinkedIn through its application programming interface (API), and they came on board within the last year.
  • It now has sales offices in 25 cities around the world, in countries like Singapore, its Asia-Pacific hub; Brazil; and India. It has multiple offices in Europe, its biggest region beyond the U.S.
  • It is running on 17 languages and will add more.
  • Mobile is growing fast in terms of engagement, though not so much in direct revenues. Last year 10% of unique visitors came to the site from its mobile apps. This year its 23%. (Last LinkedIn rolled out a new iPhone app, too). But because LinkedIn makes money primarily from subscriptions, it doesn’t really matter how users access the service.
  • Although 62% of its membership is international and growing faster than the U.S. yet, only about a third of the company’s revenue is coming from international sources. Ultimately he wants to see those numbers match better.

The biggest opportunity for growth, he says, is to get people more engaged in the site on a daily basis.

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“Peop le view the site more as a digital Rolodex or way to get a job,” Weiner says. “But its not just a way to find your dream job, but a way to be better at the job you are already in.”

Don’t miss: The 50 Most Powerful People In Enterprise Tech >

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Thursday, September 6th, 2012 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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