HockeyStack (2025) — LinkedIn Ads benchmarks for B2B SaaS

Summary:

This report from HockeyStack focuses on how LinkedIn ads perform for B2B SaaS companies. It looks at ad spend, clicks, click-through rates, cost per click, lead generation, pipeline, and ROI across the year.

HockeyStack is a marketing attribution and GTM intelligence software company. The main goal of this report is to show marketers how LinkedIn ads affect pipeline and revenue, not just platform metrics like clicks and CPC.

HockeyStack analyzed three years of data from more than 70 B2B SaaS companies, covering $28 million in LinkedIn ad spend. The companies ranged from $5M to $1B in ARR, with ACVs from $5K to $120K.

The report uses observed account data and sets its own shared definitions for MQLs and SQOs so results are more comparable across companies. For attribution, it uses a position-based model that gives 40% credit to the first touch, 40% to the last, and 20% to the middle touches. In some cases it also used impression-level tracking.

Note that this is vendor-made research from a company that sells the kind of attribution product the report promotes, so the commercial incentive is high.

The sample is limited to HockeyStack-linked B2B SaaS companies and may not represent other industries or even all SaaS firms.

The report also uses custom definitions for MQL and SQO, which may not match how every company measures them. And some revenue results rely on a chosen attribution model and, in some cases, impression-level tracking, so those figures depend on HockeyStack's measurement choices.