It is no secret that social media has rapidly evolved into a mainstream tool for business and networking.  While Facebook, Twitter and Google+ are strong social sites, LinkedIn seems to tilt its scale more towards a business-network orientation.

In fact, 59 percent among executives from the Fortune 500 companies say LinkedIn is their platform of choice over Facebook or Twitter.  This is up from 41 percent who called LinkedIn their most important social account a year earlier, according to a June report by Performics and ROI Research.  LinkedIn has more than 100 million members in more than 200 countries, on all seven continents. As of this past June, LinkedIn counted 33.9 million unique visitors, up 63 percent from a year earlier, according to internet analytics firm ComScore.

Market-research firm Lab42 finds that top-level executives and entry-level workers use LinkedIn differently: Younger members use the site mostly to post résumés and network for jobs, while more experienced professionals use it to demonstrate thought leadership and expertise, promote their businesses, conduct market research and–perhaps most important–win new business.

So, how might companies win new business on LinkedIn?

Target searches for keywords you’ve identified as central to your business. For example, target titles such as “VP of marketing,” specific ZIP codes and company names to identify key contacts to call or e-mail.

Track who is looking at your profile and your staff’s profiles. You can then research those individuals or companies in greater depth and perhaps market yourself or your business to them.

Research individuals and/or companies you are targeting for potential interaction. Set up a Company Page.
Setting up your business as a “company” on LinkedIn isn’t going to generate a bunch of leads, but it does give you an opportunity to have a presence on LinkedIn beyond a personal profile to ratchet up your company’s charisma with lots of activity rather than simply lots of members.

Discern patterns. Notice who’s connected in your industry.  Participate in LinkedIn groups catering to your target market in order to engage in conversations with the right people. Seek out groups

Using LinkedIn efficiently does take some focused effort, but it can be well worth it. Of course, be aware that your competitors are also able to apply these same tips and tricks; they are privy to the same social insights that could be giving them inside information about you. Your competition can also notice who you are connecting with, which could tip them off about potential new business you may be seeking to establish or have already established.