The Benefits of LinkedIn Data
This weeks episode is all about something that is right in front of us, every time we log in to LinkedIn but it’s something that most of us take very little notice of……and I think that’s a missed opportunity. I’m talking about data – about companies and their employees. Companies that are our competitors, customers or prospective customers. I think we should all be taking more notice of this data, more of that later but first……..
Interesting Stuff I Saw This Week
When you click on ‘See translation’ you see this
And here’s how it compares to Google translate
A fantastic feature that will be really beneficial to people who operate in countries like the Netherlands where you want to reach an English and native speaking audience with your posts. It will also be very handy when someone @mentions you in a post that is written in a foreign language – this happens to me at least twice a month!
It’s not as accurate as Google yet but should improve with time.
Good to see LinkedIn recognised by the wider video creating community and given a spot at VidCon. I find it fascinating that these LinkedIn video creators, who seem to have come out of nowhere, are gaining almost ‘YouTuber’ like cult status!
I do think that a feature like Instagram stories would be great for Linkedin, such as this;
The only issue is that she has had to make this is IGTV (Instagram) so the portrait format looks awful on LinkedIn – hence the need for a way of making this type of video in the LinkedIn app.
I believe that the next stage for video on LinkedIn is the combination of video and stories – live streaming is probably the next stage after that but I’m not sure the LinkedIn community is ready for live just yet!
I was recently sent this article by a listener to the show;
I’m really not sure I understand the question about the ethics of using this analytics tool to raid a competitor – isn’t that what everyone does? This tool just provides better information to allow recruiters to ‘poach’ those that are more likely to be interested. The ethical question around headhunting has always seemed bizarre to me, to suggest it is wrong would suggest that a company somehow ‘owns’ its staff – that seems to be on much thinner moral ground (ice) to me!
Interestingly enough, someone else had mentioned LinkedIn’s new Talent Insights feature to me recently and I had made a note to check it out.
If you want to hear LinkedIn talk about it, the video below is set play at the part where they announced Talent Insights at their Talent Intelligence Summit earlier this year.
LinkedIn describe Talent Insights as their most exciting product since Recruiter!
It will be launched next summer (2019)
There are two reports that it provides;
- Talent Pool which includes analysis based on a search by Job title/skill/location as follows;
- Total numbers plus or minus
- # that changed jobs in last 12 months
- How many jobs advertised
- Hiring demand index
- Location comparison
- City migration
- Main employers
- Which companies are increasing or losing staff in these areas
- Company Report.
- A deeper analysis of companies identified as main employers in point 7 above
- Company locations
- Where they recruit from (employee source)
- Where do they go to after they leave
This all seems pretty exciting for Recruiters and it got me thinking about how useful such data could be for other purposes. As I started to think about it I realised that much of the useful data can easily be extracted from Sales Navigator!
Take this example;
Account search by location, industry and number of employees, then I used the headcount growth slider to identify which companies had seen the highest growth over the last 12 months
Furthermore, I can go into that company a drill down to a list of employees, here I can see exactly how long they have been at the company and in their role. This easily highlights those that are new.
This can be very useful data used for the following;
- Competitor analysis
- Recruiting opportunities
- Business development
- Fast growth = increase need to buy your product/service
- downsizing = potential for financial assistance, interim services etc
As is often the case LinkedIn are demonstrating a lack of joined-up thinking. Much (not all) of what this new Talent Insights product provides can be found, quite easily within Sales Navigator already!
I’m assuming this new product will come with a hefty price tag and we have to wait at least a year to get it!
I’ve been quite disappointed with Sales Navigator recently. It’s pretty hopeless as an engagement tool and LinkedIn.com is easily my preferred tool for posting, commenting etc but the data you can access is really very useful.
What are your thoughts? How else could this data be used?
You are 100% correct Rose, a company page is required to ensure that your company logo appears in your experience section which in turn ensures that it appears at the top of your profile.
I would never suggest that people don’t have a company page, you also need it for advertising and it can be useful as a way of getting people to your website. It’s a good feature for branding and providing information about your company – it’s just a very poor feature for engaging with people.