LinkedIn and its Business Potential - Case Study

1) How have the successful LinkedIn members used the network to their advantage?

- An American business and employment-oriented online service that operates via websites and mobile applications, LinkedIn was found in the year 2002 by Reid Hoffman who had turned an idea into a reality which now serves as the largest professional network in the world. With over 332 million professional individuals signing up to the network in 200 countries as of March 2015, LinkedIn has turned out to be a great success.
This professional network has helped its members use the platform to their full advantage by providing a wide range of options and resources.
 A few are listed as follows : 

i) Using LinkedIn as a research tool  
- It helps in researching about various companies, their recruiters, hiring managers, interviewers and so on. It gives the individual a background of the company before submitting applications. 

ii) Learning new skills with online courses
- The company has come up with initiatives of introducing new online courses with skills that are required in order for the advancement of an individuals's career graph. 

iii) LinkedIn acts as a great job board
- With technology advancing, gone are the traditional ways of recruiting people. Through LinkedIn, one can directly apply for roles using LinkedIn apply, save jobs searches, as well as flagging to recruiters that the individual is open to hearing about opportunities. 

iv) A great platform to demonstrate knowledge, credibility and leadership expertise
- Most of the professionals have LinkedIn accounts which helps in building trust with employees and recruiters as they would be able to see one's recommendations and connections and evidences of where the individual has added value. 

v)  Gain exposure to hiring managers and recruiters 
- Studies show around 93% of recruiters use LinkedIn to hire candidates. Members try their best to have an online personal brand which makes them visible to the recruiters for higher chances of getting selected. Members are required to design their CVs in the best possible way to ensure their profile is being sold to the recruiters of different companies. 
LinkedIn, is a brilliant way to meet people with similar professional interests and to expand one's network to greater heights. Joining groups, discovering industry news, having discussions helps to build one's scope for new and greater opportunities in the long run. 

2) Suggest how being a member of the LinkedIn network might help a company to develop better customer knowledge? 

- LinkedIn is no longer restricted for just searching jobs online. It's also open as a platform for sales and marketing, for promoting businesses like creating company profiles on the site, called 'Company Pages' that rank highly in search results which lists out basic information about the respective business. A great help that LinkedIn offers is providing data on Company Pages like demographic information about the company's followers and metrics on each update the company posts that helps to develop a better customer knowledge.
The ways that might help a company to develop better customer knowledge are as follows 
:
i) Joining an industry group 
- Picking groups that are related to the company's industry/field helps in interacting and sharing knowledge and expertise along with participating in discussions. All these give an insight as to what the market demands and what is expected from the customers. 

ii) Follow other companies 
- Try understanding how others are expanding their brand and engage with them. Join in mutual groups to get a better understanding of the whole mechanism. 

iii) Engage in active marketing 
- Market about the company, the products as broadly as possible. This will help in increasing the brand's name and users would come across and drop in their feedback and reviews in the comment section. 

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Reference 

Website : http://press.linkedin.com/success-stories

: https://www.linkedin.com/company/linkedin/?src=li-other&veh=in.linkedin.com&trk=homepage-basic_directory_aboutUrl
Question

Businesses rely on their connections to other businesses and key individuals to develop their business. In 2002, Reid Hoffman had an idea which he turned into the largest professional network in the world: LinkedIn. In March 2015, there were over 332 million professional individuals signed up to the network, in 200 countries worldwide.
Visit http://press.linkedin.com/success-stories and read ‘Success stories of LinkedIn members’ who have used this network to grow their business.
1) How have the successful LinkedIn members used the network to their advantage? 2) Suggest how being a member of the LinkedIn network might help a company to develop better customer knowledge.