The Shrinking Value of LinkedIn (Where are the Buyers?)
Why would one of the most prolific, contact rich people on Reachable ask us to remove more than 8,000 contacts from his Reachable account?
It’s the simple result of LinkedIn-automation, and fully expected and anticipated collapse of LinkedIn’s value as a Referral Engine.
If you are using LinkedIn by the book, then you are using it as a marketing tool, to amplify your or your company’s voice on this extraordinary social network. Some companies give quotas to their salespeople for how many new connections they need to make on LinkedIn per month (Tens and Hundreds). There are bots that will click on pages for you so that people who are glued to their “who viewed my profile” page can discover you and reclick on you.
Go through all these motions, and you too will accumulate 8,000 contacts.
What is the value of these contacts? If you import their email addresses into Constant Contact and email them something, will they have a high click-through? If you post something on LinkedIn, will you get a lot of these Connections to engage with your post by commenting? And if you ask anyone for a referral based on a Connection path discovered by LinkedIn, will they do it?
I think the answer to the above is NO. LinkedIn is not a marketplace for goods and services. It is a marketplace for talent. It has been invaded by an army of sellers, people who are hawking something. But where are the buyers? Everybody who is posting aggressively on LinkedIn is selling something. But with no active buyers, sales automation on LinkedIn will piss off the people on the network who might otherwise been occasional buyers.
Our team built a product that is intended to help you leverage the relationships that you got — by forming a private network with people you trust, by aggregating public or commercial data on the Companies and People you are tracking, and showing you the way that through your relationships you can move a sales conversation further — with referrals and insiders’ insights.
Today some of the most sophisticated companies are using Reachable to connect the dots between the people they know, as individuals or as enterprises, and the companies they would like to do business with.
Shouldn’t you be contacting us today to figure out why?