How to Improve ROI from Your Job Board Spend (7-minute educational video)

Share this:
Share on facebook
Share on twitter
Share on linkedin
Share on email

Want your recruitment advertising to deliver better results?

In this quick Snack Time video, 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.

Your high-priority jobs can go into one bucket; your low-priority jobs can go into another bucket; your jobs you don’t want to sponsor can go into that third bucket. Make sure that’s automated, then apply the bidding strategy right? Your high-priority hot jobs need to get more aggressive than your low-priority jobs, or the jobs that might not need as much sponsorship. Make sure all that is automated, and then distribute it to the job boards.

Don’t manually post and then take down jobs. It’s vital to save your team time: to get them to actually talk to the people who want to work for you.

The 3rd way: Eliminate wasted job board spend.

Let’s walk through the first client for whom we managed recruitment advertising spend.

  • The month before (where they managed their spend internally) had 92 sponsored jobs, with 62 of them generating 0 applications.
  • The first month where Haley Marketing started to manage that budget? 66 sponsored jobs, with just 2 of them getting 0 applications.
  • Lengthen that out to one year: 282 jobs, 10 jobs with 0 applications.

We generated fantastic results by allocating the appropriate budget to the best-performing jobs. We really stopped their runaway jobs. What do I mean by runaway jobs? Well, everybody has jobs that receive way too many applications and it’s just eating 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.

Let’s look at an example of one of our clients, a case study of an industrial staffing agency in Ohio, managing internally 568 applications for 3500 a month. When Haley Marketing started to take over:

  • We increased those applications by 61%, over 900 applications a month.
  • We decreased their monthly job spend by nearly $500.

How did we do this?

We automated a lot of this. We managed their budget and we distributed the jobs into three different buckets or campaigns:

  1. The company had high priority jobs, they have maintenance jobs that need a higher cost per click than their material handler entry-level jobs, and they want to make sure to allocate budget to a local suburb because that was a priority for them.
  2. We eliminated the wasted spend. We allocated their budget appropriately to meet their goals. We increased the bidding if there was poor performance if their jobs didn’t have a lot of applications after two days, we increased that cost per click automatically then we stopped sponsoring when our goals were reached. If they had enough applications, we stopped the sponsorship, moving the money to where it needed to go.

All of that was automated; none of that was manually checking. We put an automated system in place to meet their unique recruitment goals.

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!

 

Share this:
Share on facebook
Share on twitter
Share on linkedin
Share on email

Build Your Marketing Stack

Staffing Website Development Services

See how we are building the best sites in the industry

SEO
Career Portal Software
Talent Showcase Software
Chatbot
IP Tracking Software

Let's Talk

We'll be in Touch Soon