LinkedIn is more expensive to advertise on than Facebook because the CPC is much cheaper, on average its around $5.26 on LinkedIn (vs $0.97 on Facebook).
The minimum spend you can spend on LinkedIn (per day) is £10.00 per campaign. The ads on LinkedIn are sold through an auction, so when you run an ad, you compete with other advertisers who want to reach a similar target audience. LinkedIn is recognised as a professional target audience, since the users are interested in professional networking, getting advice on career-related topics, and collaborating with like-minded people. LinkedIn Ads are traditionally better for reaching B2B markets because of the platform’s professional nature which means typically means higher-quality leads and higher ROI.