LinkedIn’s fabulous third quarter results have everyone talking. According to LinkedIn’s CEO, Jeff Weiner, LinkedIn is growing by two new members per second and has reached a staggering 187 million members. SiliconANGLE Founder John Furrier praised LinkedIn on a job well done in executing on the business side, on both operations and revenue growth, by rolling out new products using big data. He also noted that they use products that monetize well, which provide good user experience.
Marketing solutions and recruiting are still the key revenue streams for LinkedIn, but Furrier said that their new revenue model around paid subscriptions is interesting because “what they’ve been doing is using the vanity of people to increase subscriptions,” referring to a recent pay feature on LinkedIn of who has looked at your profile. Furrier said even he upgraded to find out who’s been checking him out.
Furrier believes LinkedIn has a bright future as long as they stay away from forcing ad banners on their users, which is where he feels Facebook is going off track. Furrier said, “Executives with myopic vision go for the low-hanging fruit on the ads. Smart executives will go for the user experience, and I think LinkedIn is going in that direction, and Facebook is going in the other direction of clicking on ads.” Ultimately, according to Furrier, whoever can deliver the best user experience possible will win this game.
See the whole segment with Kristin Feledy and John Furrier on the Morning NewsDesk show.