As of last week, LinkedIn has reported outstanding financial reports, including a near 20% jump in stock in just one day. Reports from the fourth quarter of 2011 tell us the social networking site experienced a 105% increase in revenue in comparison to fourth quarter results of 2010. LinkedIn ended the fiscal year with approximately $167.7 million in revenue.
What we found to be most noteworthy is the “Hiring Solutions” part of their end of year reporting. Their recruiting services reportedly jumped 136% from the year prior in revenue, ending 2011 with $84.9 million in revenue just from the hiring makeup of their website. This makes LinkedIn the fastest growing public provider of corporate recruiting solutions.
Steve Sordello, CFO of LinkedIn, talks about the success of the professional social networking site. “Our fourth quarter results underscore the company’s success in 2011, which saw revenue and adjusted EBITDA more than double. In 2012, we will continue to invest in our product, engineering, and sales infrastructure to capitalize on our long-term opportunity.”
Top marketing agencies should pay close attention to these findings because LinkedIn could be their next go-to for finding professional, hard-working internet marketers. Here are four ways in which a marketing company can utilize LinkedIn for recruiting services:
- The Job Postings section of LinkedIn allows you to post open positions at your company and also buy highly targeted ads. LinkedIn is clever enough to target those ads towards users that are most likely to respond upon seeing your ad. Research shows that the ads placed on LinkedIn are much more effective than ads placed on Facebook.
- With Talent Pipeline on LinkedIn, those who apply for a position that your company posts will be put in a managed stream. This is similar to a candidate marketing and applicant tracking system.
- Employment Branding is a service LinkedIn provides to you for building a unique career website directly within the LinkedIn network. With this service you are able to promote jobs to the right, interested candidates.
- Finally, LinkedIn Recruiter serves as the company’s vast recruiting platform; providing you with access to their entire database of nearly 150 million professionals who are seeking employment.
Is LinkedIn’s huge success of 2011 enough to make your company think twice about where you will look for new employees? Let us know how you plan on utilizing LinkedIn for your next job postings.