By Matt Lozar, Haley Marketing (guest post)
Want your recruitment advertising to deliver better results?
In this quick Snack Time video, Haley Marketing’s Director of Recruitment Marketing, Matt Lozar, shares four proven ways to better manage your job board spend – and improve the ROI of your recruitment advertising:
What can your staffing agency do to get better results from your job board spend?
The 1st way: Eliminate year-long job board contracts.
Why? 2020. Need I say more? First of all, annual job board contracts aren’t required. Job board performance changes. That job board that worked really well in March might not work well in October. We need to have the control on our side to allocate the money to where your company is getting the best results.
What’s more, your job orders could fluctuate in March. You might have had 100 job orders in October, and then in December, it could jump up to 200. Can you quickly increase and decrease your budget to match those job orders to deliver the quality and quantity of candidates you need?
We want to pay for performance, not just for presence.
The job slots model has strengths; it has benefits. One of its weaknesses? You’re paying for just the presence of your jobs. If you receive one application or 10,000 applications, the same cost is there for you every month. We want to pay for the performance and pay by the application to make sure you keep control, the budget on your end.
The 2nd way: Stop manual posting.
Is your team manually posting and taking down jobs from one job board to multiple job boards? We need to eliminate that. Find ways to automate the technology that can help here, by sending a feed of your jobs or sending up a scrape of your jobs to the job board you want to sponsor on, or to the multiple job boards where you have sponsorship, allocating those jobs into campaigns or buckets based on job priority.
The 3rd way: Eliminate wasted job board spend.
Every staffing firm has “runaway jobs” that receive way too many applications and just eat up budget disproportionately, while many other jobs desperately need more applications.
With programmatic technology, we can automate a turn-off switch when applications hit a certain level, to eliminate wasted spend on jobs that receive too many applications.
Then, programmatic can automatically kick-start poor-performing jobs. For example, a job might not have many applications after a day or two; let the software, the technology, automate to read that real-time data to increase the money allocated to those poor-performing jobs. By using programmatic data and technology to your advantage, you can make data-driven decisions: diverting job board spend that would’ve been wasted to boost applications for under-performing job postings.
The 4th way: Stop the posting and praying.
Here’s an example: Job board A has $2 an application, job board B has $5 an application.
While at first glance it seems like we want to put our money on job board A because of the cheaper applications, it turns out that the candidate quality is much worse on job board A. So, we need to get 20 applications to receive a placement or a quality application from job board A, but we only need 4 applications from job board B to find a great candidate.
That’s twice the cost of the job board with the lower cost application. That’s really hurting us.
We need to put the money into the job board with the lowest cost per quality application.
In this example, the data shows us we need to put the money onto job board B. The problem with all this? It takes technology, it takes expertise, to really get as much ROI out of the recruitment budget as possible.
Tired of annual job board contracts and job slots?
We can show you a better way to get better results from your job spend. Schedule a free consultation with a recruitment marketing expert today!
COATS Staffing Software’s customizable job posting software allows you to post to job boards while simultaneously streamlining the evaluation process for you and your team. COATS is a complete front & back office staffing agency software system. Are you happy with how you run your daily operations? If not, give us a call.