Which would get more attention here — an introduction about LinkedIn succeeding or an introduction about Twitter failing?
It would be fun to A/B-test different intros to see what did better not only on this blog but across our various social media channels, but alas, I simply like to bring you the news rather than spin you for views.
“If you’re thinking about moving your ad spend away from platforms like X in 2024, LinkedIn could be a solid alternative to consider,” writes Search Engine Land’s Nicola Agius. “Marketers are seeing good returns, but keep in mind it comes with a higher cost, so be sure to check your budget before making the switch.”
Search Engine Land shared Insider Intelligence’s forecast that has LinkedIn’s annual ad revenue growing an additional 14.1% this year, after already seeing a 10.1% YoY growth to almost $4 billion in 2023. Search Engine Land says marketers are seeing substantial ROI despite the price rise, with some advertisers reporting a 20% ROI.
“One media buyer revealed that the cost per 1,000 impressions of an ad was now as much as $300 for premium LinkedIn campaigns,” Agius writes. “In contrast, running a comparable campaign on Meta’s platforms costs between $10 and $15.”
All this, while the news about X is, well, really not news at all. Not only have reports had ad rates dropping since Elon Musk first purchased the platform in 2022, but anecdotally, the effects of leaving are becoming clearer. “A memo circulated to NPR staff says traffic has dropped by only a single percentage point as a result of leaving Twitter,” wrote Nieman Reports’ Gabe Bullard in October following NPR’s X-exodus after being labeled U.S. state-affiliated media, “though traffic from the platform was small already and accounted for just under two percent of traffic before the posting stopped.”
“There’s one view of these numbers,” wrote Bullard, “that confirms what many of us in news have long suspected — that Twitter wasn’t worth the effort, at least in terms of traffic.”