“As of June 2013, LinkedIn reports more than 225 million registered users in more than 200 countries and territories.” Wikipedia
In 2012, LinkedIn has seen unprecedented growth in some countries. In France, where Viadeo has been #1 for years, gathering up to 45 million members worldwide, LinkedIn jumped from 2 to a whopping 4 million members in less than 10 months.
Personally, I spend way too much time on LinkedIn, way more that on Facebook. My industry (Tech/Internet) is leading the charge, and we see most industries following closely.
– No-bullshit zone: College students seem to be crafting misleading CVs. Well, apparently up to 78%, 80% or 92% of them do. It isn’t necessarily plain lies, it can just be overstatements, omissions, additions… LinkedIn let everyone review your information: peers, former colleagues and recruiters alike. Endorsement and recommendations given will last for many years, one pledges its reputation on a colleague.
– The era of passive recruitment: In the US, 86% of job seekers are looking for work online. Recruiters are game, Pfizer reports up to 40% of its candidates come through LinkedIn. Any recruiter can draft a list of potential candidates and reach out to you directly. LinkedIn is making part of its revenues through through recruiters solutions, a brilliant (and expensive) product to source talents. Tapping into everyone in the workforce that fits into your recruiting profile is orders of magnitude better than waiting for potential candidates to reach out to you.
– You’ll just love it: A social network is only as good as the number/quality of people on it. Your colleagues, peers and future recruiters are on it. Need to keep in touch? People change email, they won’t change of profile. Also, you can brand yourself very simply. Using status updates and tools such as Bufferapp to schedule updates. It’s key for career changes and business development.
> What could LinkedIn do next?
– Go for Advertising: Keep learning about users That’s exciting! LinkedIn knows my education/background/work and where I live. They should acquire/develop close integrations with Tripit (to know where I am and when), Glassdoor (to figure out how much I make), beef up their knowledge graph (to know what I do for fun), keep crafting their content delivery (to deliver spot on articles/blog post about my industry/passions). That would help them serve tier-1 ads.
– Go for Expansion Disruptive products need strategies with multiple entry-point, just like Google Apps it’s interesting to go after 1) Big household names (recruiters) 2) End users (members) 3)New generations (students). Students will spend more time on their profile than on the old A4 CV. Linkedin has been around for 10 years, and seems to be on the a winner. It takes time to change usage and mindsets, luckily Facebook succeed in proving its irrelevance for the professional space. Long life to LinkedIn!
-Rodolphe (initially published on dutel.fr)