Another week, another marketing acquisition.
This week, LinkedIn bought Bizo.
LinkedIn is not just a forum of professional resumes, it’s a marketing solutions platform, and Tuesday’s announcement of their acquisition of Bizo not only underscores the platform’s strategic positioning as a marketing solution but amplifies the value of content.
The announcement comes just weeks after research confirmed LinkedIn as the #1 source for professional content sharing, and supports their goal to become “the definitive professional publishing platform.”
WHAT IS BIZO? Bizo is a software and data system that helps professionals find the “right people.” It was rated the #62 “Most Promising Company” by Forbes in 2013, and has been a strategic partner with LinkedIn for the past several years.
LinkedIn is no newbie to the B2B content marketing game. In fact, the “world’s largest online professional network” has been ahead of the curve in recognizing the power of content in the professional landscape. Back in 2013 when they launched their promoted posts, they forecasted with great acuity: “Marketers are increasingly leveraging content to inform, educate, and inspire their current and prospective customers. But the high quality content they’ve produced—slideshows, articles, videos, and whitepapers—does not always achieve enough reach and engagement on their own channels.”
From our perspective, the acquisition was a good move. CMOs are expected to spend more on technology than CIOs by 2017. As more professionals realize the positive impact content marketing has on businesses, they’ll invest heavily in technologies and softwares to execute content marketing strategies. eMarketer found that total marketing spend was $171 billion in 2013, with a 3% increase expected for 2014.
Content will be at the center of this spend. Companies need to connect with buyers, and they’ll do it with content.
The channels that deliver the best audiences for that content will get the biggest chunk of that $171 billion. To marketers, those connections are worth millions.
LinkedIn Acquires Bizo, Doubles Down on Content Marketing
And CMOs are looking to reach the right buyers. A more targeted audience means connecting with likely candidates for customer or business transactions. By watching returns on tested channels, marketers can focus content creation, distribution, and promotion on channels that work. This not only saves marketing budgets, but results in higher ROI as proven channel are further optimized. In other words, better leads and fewer wasted resources.
If LinkedIn can deliver higher quality leads, they make a compelling case for their display ads and promoted posts. For the marketer, the value of each LinkedIn lead will increase. And the buyer will get useful, relevant content focused on their needs and interests. It’s a win-win-win.
“We believe that combining forces will accelerate our ability to execute against the huge opportunities ahead,” said Russell Glass, Bizo’s co-founder and CEO in a blog post on the announcement.
Content is at the center of this huge opportunity, and LinkedIn is poised to grab hold of it.