LinkedIn is expanding its suite of offerings with a new initiative targeting small to medium-sized businesses (SMBs) by testing a new Premium Business Page subscription. This service is part of LinkedIn’s strategy to enhance user engagement and diversify its revenue streams under the ownership of Microsoft. The subscription, which is expected to cost up to $99 per month, aims to provide businesses with advanced tools to boost their visibility and follower engagement on the platform.
The Premium Business Page service will feature AI-powered content creation tools designed to help businesses attract more customers and increase their credibility. This is LinkedIn’s response to the evolving digital landscape, where businesses increasingly rely on social platforms and search engines to reach their audiences.
Suzi Owens, Senior Director of Communications at LinkedIn, emphasized the company’s commitment to improving customer experience. “We’re always exploring new ways to enhance our customers’ experience and assist them in achieving their business goals,” Owens stated. She highlighted that the Premium Company Page is being tested with a focus on helping SMBs stand out to their audience.
While pricing details are still under wraps, early indications suggest that the service may start at $99.99 per month for each page, with a discounted annual rate of $839.88. This new offering complements LinkedIn’s existing premium services that cater to various organizational needs on the platform.
The Premium Business Page subscription will also allow administrators to engage more intimately with their audience. Features include the ability to review recent page visitors, invite them to follow the page and utilize enhanced call-to-action buttons that prominently display contact information and website links. Additionally, businesses can highlight testimonials, leveraging a popular feature from individual profiles to bolster their professional reputation.
This initiative comes at a time when LinkedIn reports a significant increase in its premium subscriptions, with a 25% rise year-on-year, bringing in $1.7 billion in 2023 alone. LinkedIn’s overall revenue for the same year was reported at $15 billion, with its recruitment solutions business contributing a substantial $7 billion. This growth underscores the platform’s successful monetization strategies and its crucial role in the professional networking and recruitment landscape.
By introducing such premium features, LinkedIn continues to reinforce its position as a critical tool for business networking and growth, especially for SMBs looking to enhance their digital footprint in a competitive market.
