One thing is certain though; it is working. ABCNews puts it this way which is pretty convincing.
LinkedIn’s approach has been highly successful so far. Although the Mountain View, Calif., company is about one-fifth the size of Facebook in terms of annual revenue and total users, its stock has been the hotter commodity on Wall Street. LinkedIn’s shares have nearly quadrupled since the company went public in May 2011, while Facebook’s stock has sunk by 30 percent from its initial public offering price 11 months ago.
The latest effort to expand its reach and to increase revenues comes in the growing area of mobile. LinkedIn has updated its mobile apps for iOS and Android and will now offer the chance to serve mobile ads to LinkedIn mobile users which make up about 27% of overall users at the moment.
LinkedIn will begin showing advertisements within the mobile app’s news stream as part of a “small test,” said LinkedIn spokeswoman Julie Inouye.
The new app, available for both the Apple Inc iPhone and for Android smartphones, makes it easier for smartphone users to interact with content in LinkedIn’s news stream, such as “liking” or commenting on a shared news story.
While we appreciate the ‘small test’ sentiment it’s not hard to see where this will lead. Every social network is coming to grips with mobile and its monetization (aside from Google+ but that’s Google’s M.O.). LinkedIn has set a standard of performance that is not about being sexy but more about being very effective. In the long run, effective usually outlasts sexy.
LinkedIn’s new app also will display photos and other graphics more prominently within a stream of updates. The stream will look similar to what people who frequent Facebook see on smartphones and tablet computers.
The revamped phone app was born out of LinkedIn’s belief that professional networking is growing as more people realize they can advance their careers by using online tools more effectively.
“Historically, people came to us only when they were trying to get a job,” Redfern said. “But now more people are coming to us on a daily basis to be great at what they do.”
Kudos to LinkedIn to doing what is right versus what is cool. In this world it may seem antithetical to ‘conventional wisdom’ but if you look real closely these days the ‘conventional wisdom’ is often short on convention and wisdom.
How are you using LinkedIn for your personal life? For your work? Is there room for growth for you in the service?