LinkedIn is whittling down its selection of premium subscription plans from a dizzying array of more than a dozen options to four clear value propositions for job seekers, sales professionals and recruiters.
Each tier of LinkedIn Premium is now aligned with a single economic outcome, according to Gyanda Sachdeva, LinkedIn group product manager and head of Premium subscription products. LinkedIn's lineup of premium offerings ranges from $30 to $60 a month for job seekers and other professionals, $80 monthly for sales professionals and $120 per month for recruiters.
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With this major simplification effort now complete, Sachdeva says she is setting her sights on new and improved features to help subscribers achieve their goals and better understand their monthly ROI. Ensuring that premium subscribers understand what they get for those monthly fees, and what has changed or been updated since they subscribed, is a priority for Sachdeva and LinkedIn.
"Making that reinforcement every step of the way is important," Sachdeva says. "We're going to make sure they know it's working."
LinkedIn Premium Bang for Your Buck
The LinkedIn Premium payoff comes much sooner for some subscribers than others, according to Sachdeva. Achieving lofty objectives, such as landing a new job or closing a sale, can take months, and LinkedIn thinks it can do more to help with those goals. Sachdeva says LinkedIn wants to give users a better sense of their progress, especially if the final outcome is taking longer than expected.
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LinkedIn Premium subscribers generally use the service in very specific ways based on their individual needs. "We want to make sure that we offer them the right price, the right deal, the right product," Sachdeva says. "There are overlaps in the needs and we're trying to think how to package it."
Simplification is one of her primary focus areas, and Sachdeva says 2015 will be characterized by the work she and others are doing to provide unique tools and insights to users based on LinkedIn data. (Unfortunately, LinkedIn declined to disclose the average lifespan of a premium subscription, how many users currently subscribe and how those numbers will break down across the four new Premium tiers.)
Insights from LinkedIn Data
One such tool for Premium subscribers focuses on applicant insights, which can help users see how they stack up against other candidates seeking the same job via leaderboard that shows how they rank.
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Sachdeva's strategy for LinkedIn Premium moving forward is to reinforce subscribers' ROI, clarify the benefits and test other ways to differentiate those benefits for specific types of users. LinkedIn is also considering different features and pricing options for small recruiters and larger recruitment firms.
"Our goal ideally is to always align with the member goals," says Sachdeva.
LinkedIn may not always achieve that goal, but thanks to the restructuring of LinkedIn Premium (and with more changes still on the way) the company is crafting a clearer strategy and a stronger social media identity.
This story, "LinkedIn makes 4 key changes to premium subscription plans" was originally published by CIO.