“Last quarter, we spoke about starting to sell the new product suite and going through a major transition of training the sales force to take the suite to market,” Sordello said. “That is still ongoing, and education is still happening. We’re actually pleased [with] where we’re at – demand is strong.”
The tech behind those offerings comes from the B2B data marketing platform and exchange Bizo, which LinkedIn acquired last July for $175 million, as part of its ongoing strategy to offer full-funnel marketing.
LinkedIn’s Marketing Solutions results were sunnier, growing by 38% to hit $119 million during the quarter and accounting for 19% of total sales. According to Sordello, Sponsored Updates drove the majority of growth in the sector.
“For Marketing Solutions, in Q1, we took a significant step forward on our long-term strategic road map,” said CEO Jeff Weiner. “In February, we launched our expanded portfolio, led by LinkedIn Lead Accelerator, our first offering focused on lead-generation and relationship nurturing.”
Sponsored Updates accounted for more than 40% of LinkedIn’s Marketing Solutions sales during the quarter, up from 23% in Q1 2014. According to Sordello, LinkedIn’s auction generated a 40% lift in effective pricing YoY.
Building on last quarter’s strong user growth, LinkedIn counted 364 million users in Q1, a 23% increase YoY, which the firm chalked up to growing organic engagement. Users are increasingly accessing the platform via mobile, which now accounts for more than half of all traffic to LinkedIn.