LinkedIn has launched LinkedIn Surveys, which enables market researchers and investors to solicit market intelligence from LinkedIn’s network of over 30 million professionals worldwide.
LinkedIn will take no part in designing research programs or analyzing the results. What it does offer, however, is deep profile information about its audience that enables it to accurately target online surveys to the right audience.
“Because people sign up for LinkedIn to engage with other professionals, we believe our information is more accurate than elsewhere,” said Dan Shapero, director of business services at LinkedIn. The company estimates that the size of the market for online surveys is $900 million.
In a six month pilot test of the program involving six firms, response rates to surveys averaged between 15% and 20%. LinkedIn members who participate in a survey can choose from a variety of rewards including gift cards from Amazon, Starbucks, Best Buy, or make a donation to charities.
Approximately half of LinkedIn’s members come from outside the US, and approximately 4 million are VPs and c-level executives.
This is LinkedIn’s fifth line of business. The other four are advertising, job listings, subscriptions and enterprise solutions.