Tech editor Sarah Frier discusses the shifting perception of LinkedIn, its transformation into a storytelling platform, the rise of LinkedIn influencers, and its expansion into different content formats.
LinkedIn has transformed into a valuable tool for professionals, serving as a platform for knowledge-sharing and professional conversations.
LinkedIn has embraced influencers, added features like podcasts and newsletters, and seen a surge in revenue growth as users engage with content and explore its potential.
Deep dives
LinkedIn: From Cringy to Useful
Despite being often seen as cringy and inauthentic, LinkedIn has transformed into a useful tool for professionals. Journalists utilize the platform to verify information and connect with sources, while job seekers find value in LinkedIn for networking and job searching. The platform has seen a 41% increase in content posting, with users treating it like a social network, similar to Twitter or Facebook. LinkedIn stands out by providing a space for knowledge-sharing and professional conversations, while other social media platforms focus more on video and entertainment. The stability and professional network of LinkedIn make it an appealing choice, especially for younger generations who value building their personal and professional identities.
LinkedIn's Growing Influence
LinkedIn has embraced influencers on its platform, starting with well-known figures and expanding to grassroots influencers. By adding features like podcasts and newsletters, LinkedIn aims to attract professionals who want to build their personal brand and business. People are finding success in monetizing their LinkedIn following, leveraging it for consulting, mentoring, and advisory businesses. Compared to other social networks, LinkedIn's revenue growth is not solely reliant on advertising as it also offers recruiting and sales services. The platform's professional culture cultivates less harassment and flame wars, with conflicts often being publicly resolved. LinkedIn's revenue has surged from $8.1 billion in 2020 to $15.1 billion in 2023, as users increasingly engage with content and explore the platform's potential.
LinkedIn: A Unique Social Media Platform
LinkedIn stands out from other social media platforms due to its emphasis on professionalism and personal branding. While not everyone may feel compelled to use LinkedIn extensively, posting on the platform provides a greater chance of reaching desired professional networks. LinkedIn caters to distinct user needs, such as job searching, business networking, and knowledge-sharing. Its stability and relevance during times of economic turbulence give it an advantage. LinkedIn's challenge lies in maintaining its utility while capitalizing on the growing engagement and content creation trends. The platform's coolness factor may be a matter of perception, but it presents an opportunity for LinkedIn to evolve and appeal to a wider audience, beyond traditional job seekers.
As Twitt—sorry, X—continues to go through tumult, an unlikely, long-time player is emerging as the last acceptable place to post.
Guest: Sarah Frier, tech editor at Bloomberg Businessweek.
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