Could LinkedIn develop a new business that would become a billion-dollar company in a matter of three short years? Confidential documents were leaked from the company and they provide detailed information about how LinkedIn plans on entering the $50 billion B2B marketing industry and establishing a new B2B marketing business that will be worth 1 billion dollars by the year 2017. B2B marketing is about meeting the needs of other businesses, though ultimately the demand for the products made by these businesses is likely to be driven by consumers in their homes. In July, LinkedIn revealed plans to acquire a business-marketing company called Bizo for about $175 million, moving it a step closer toward its goal of becoming “the most effective online platform for marketers to engage with professionals.” Bizo is an online platform used by B2B marketers to find their target prospects and shape purchasing decisions. The Bizo Marketing Platform enables precise and measurable B2B multi-channel marketing programs. LinkedIn wants to expand beyond its current media and content marketing products to build a B2B marketing platform using a combination of it’s own, and Bizo’s tools.
For example, LinkedIn states in the documents that Bizo B2B marketers can target new audiences, nurture prospects and measure the marketing impact by using the myriad of marketing tools Bizo have developed. Bizo’s marketing tools consist of Bizographics, 85 million subscriptions to business professionals, and Bizo multi-channel nurturing. Bizographics are demographics that Bizo uses to differentiate prospects from each other. The five demographics Bizo uses are company size, location, job function, seniority, and industry. Bizo Multi-Channel Nurturing nurtures your anonymous website visitors and known contacts in waves of synchronized display and social ads. Deliver and optimize the most relevant ads and messaging to prospects based on their business demographics, website navigation, and levels of engagement to turn anonymous prospects into known contacts, and known contacts into customers. Furthermore, Bizo has 85 million global subscriptions, which will help LinkedIn significantly attain the firm’s goals in international marketing. For example, the big data on the 85 million subscriptions gained from the merger will allow LinkedIn further predict business buyer behavior. It’s unclear how LinkedIn plans on utilizing the resources they acquired after the merger, but considering both businesses provide services based on their online platforms international marketing will most likely play a huge role in creating a new billion-dollar company by 2017.
To better understand the tools LinkedIn desired from Bizo, refer to the following youtube videos provided by the firm.
Business Audience Marketing