LinkedIn Acquires Tutorial App Jumprope As It Continues To Expand Options For Creator Monetization
Social media platforms of all kinds recognize the growing demand for sound and video tools. So it is no surprise that we are witnessing a series of launches and improvements from virtually every social platform this year.
Though we are used to seeing these trends on more leisure-based apps, LinkedIn is finding ways to incorporate sound and video on its platform for more professional purposes. In March, they announced their venture into audio, raising competitive stakes with other audio apps like Clubhouse.
Then in early August, Jumprope, a tutorial video app, announced it was being acquired by LinkedIn in an effort for the platform to expand its creator tools. On August 20, Jumprope pulled the plug on their app and officially went to work for LinkedIn.
LinkedIn hopes these new features will cater to creator demands for more options to build better connections with their community and provide stronger marketing tools for the platform. Their aim is to retain and nurture top creators while further incentivizing engagement and content creation on the platform.
As audio and video grow in popularity, LinkedIn is looking to remain relevant and competitive in the industry and are throwing their efforts into making that happen.
The Popularity of Video
In research published by Hubspot, 85% of businesses now use video as a marketing tool, with 92% of marketers agreeing that it’s an important part of their strategy.
The report also found that 99% of marketers currently using video reported that they plan to continue doing so over the course of this year and next. No less than 95% of them are even planning to increase their video investment in the near future.
So it’s probably fair to say that video content has claimed a solid footing in the marketing world – and it is a trend that’s going to stay.
“We’re seeing nearly 50% growth in conversations on LinkedIn reflected in stories, video shares, and posts on the platform,” Suzi Owens, a spokesperson for LinkedIn, said in a Tech Crunch interview.
LinkedIn aims to retain its most popular creators in order to maximize user engagement. With the addition of new video tools provided by Jumprope, the platform hopes to incentivize posting and provide more tools that can eventually facilitate revenue generation through sponsored content and ads.
“We started Jumprope to empower anyone to share their knowledge and passion in an engaging video-based format,” Jumprope co-founder and CEO Jake Poses said in an August 2 LinkedIn Pulse post. “But, while 2 million people per month watch Jumpropes on our platform, we realized we could build something so much bigger if we joined LinkedIn. This truly is an opportunity to fulfill the Jumprope vision of reaching a global community.”
As Jumprope has packaged itself as a how-to video app, the acquisition looks to be an appropriate match for LinkedIn’s more professional social media brand. Maintaining a certain level of professionalism while also staying accessible is sometimes hard to accomplish if brand identities clash.
More Tools, More Engagement
Though this last round of creator tools seemed to have surfaced quickly, LinkedIn has been strategically building toward this for a while. Besides the audio options they are testing, they also announced that they were adding new profile features, including video cover stories and “creator mode” in March.
These earlier tools enable job seekers on the platform to share a quick video overview of their skills and experience. At the same time, business owners could use the option to promote their products and services through quick introductory clips.
Jumprope will add to this capacity by providing another way for LinkedIn creators to share helpful, step-by-step professional tutorials, which can then be shared with specific communities in-app to improve personal branding and presence, and eventually facilitate sponsored content connections and promos.
The Jumprope format can also tie into LinkedIn Stories, with the step-by-step, full-screen format aligning with the current look of Stories. The newly added features will allow users new ways to keep Stories on their profile with a new section (similar to Instagram) where they can retain specific Stories permanently to better showcase their presentation skills or industry expertise.
So, how will this affect the future of monetization, sponsored content, and ads on LinkedIn? Much like any other social media launch, its success remains to be seen, but if LinkedIn is listening to its users, the platform can keep building on its 50% year-over-year growth.
New tools and processes will help LinkedIn’s creative options stay relevant and provide more capacity for brand partnerships, enabling new forms of creator monetization to keep users engaged and active.