Our recent analysis of Christmas recruitment data demonstrated a key reason why recruiters should shift to performance based advertising.
More specifically, performance advertising gives you much more control over your budget, including the ability to turn activity up and down to take advantage of market conditions such as low application costs or higher volumes of applications.
There are, however, a number of other benefits to using performance advertising within your recruitment strategy.
The top 8 benefits that ClickIQ’s clients see are:
1. Performance advertising can solve the Goldilocks problem (i.e. too high or too low levels of response).
Advertising your roles on a performance-based model gives you the ability to turn off a job’s spend when it has received your optimal number of applications or clicks. For example, if you want to receive 25 applications for one job, then the job will stop spending once you have hit that target.
This saves you time by no longer having to screen hundreds of applications you don’t need and it also lets you can focus more of your recruitment spend on the harder to fill jobs.
2. Performance advertising gives you more reach as the advertising itself is free, so you can spread your message further without any additional cost.
Whilst most people initially think that the key benefit of performance advertising is only paying for responses, its actually about reach.
Because you don’t pay to advertise (as you only pay for the responses). This means that you can advertise across more websites or job boards without it costing any more. This increases the number of job seekers you can reach and the likelihood of attracting the best candidates.
3. Performance advertising means never paying and not get anything for it.
Nobody wants to pay and not get anything – which is the huge risk you take when advertising using a traditional duration or credit based model.
With performance advertising this risk no longer exists. Whether it is pay-per-application or pay-per-click, you only pay for what you get.
4. Performance advertising enables you to take different approaches to different jobs.
Advertising every type of job on the same two or three job boards with the same budget behind each and every job is not effective.
Just like the people who apply, every job is slightly different and therefore needs to be treated individually.
Data and real time results inform you where your job should appear and then the system automatically adjusts according to where your money is best spent, by programmatic buying advertising based on its performance on a job level.
Buying performance media programmatically also reduces human bias as media buying is based on real-time data rather than who has the friendliest account team or the funniest Christmas cards.
5. Using performance advertising means you can take advantage of organic advertising opportunities.
Several media owners who work on a performance based model will offer some form of organic (i.e. free) advertising. The main example of this is Indeed.
Organic responses from pay-per-click (PPC) job boards should account for 60% or more of your responses, depending on the strength of your brand. The main benefit of this is that it means a lot of your easy to fill roles can be filled quickly, easily and for free enabling more of your recruitment spend to go behind the harder to fill positions.
6. Performance advertising recognises that speed is everything and is super easy to automate.
Empty seats costs businesses money so getting a job live quickly is fundamental.
Don’t waste time uploading or filling in forms. A talent attraction system, like ClickIQ, will automatically take jobs from your ATS, analyse them, build a campaign based on what has worked best in the past, and get it live all within seconds. You just set the rules around max spend per job or number of desired applications as part of the initial set up and the system does the rest.
The best part is that an automation system can then manage and optimise all of your performance advertising going forwards – saving you significant time and hassle.
7. Performance advertising means you can optimise performance instead of just posting and praying.
Your job going live should not be the end of the process. Different jobs ads work differently on different job boards at different times.
Buying media on a ‘post and pray’ basis does not give you the option to optimise your recruitment spend, but buying on a performance basis gives you the option to monitor and adjust your campaigns based on how they are performing.
Technology can handle the administrative side of this for you automatically. Typically, all you would need to do is set the rules around budget and applications by groups of jobs and the automation system can do the rest.
8. Reach passive candidates using performance advertising.
In a tight job market, the ability to reach passive candidates who are not actively looking at job boards is fundamental if you want to fill those jobs, using sites such as FaceBook.
However, usually reaching out to those passive candidates is more expensive.
As a result, you only want to pay on a performance basis (i.e. for responses to your advert) otherwise it will get very pricey very quickly. This way you only target the applicants you want to reach. They then self-select if they are interested and you only pay on success.
What next? Book a demo
There is still time to plug into ClickIQ before the holiday season. The first step is to see the platform itself – which you can request here.
Once you have agreed to go ahead, we can quickly take a feed of your jobs and get a campaign up and running straight after. The whole process can be completed in as little as 48 hours from start to finish.
ClickIQ is an Automated Talent Attraction Platform which uses AI and Programmatic technology to intelligently Manage and Optimise your recruitment advertising in real time, across an extensive network of performance based recruitment media.
Saving recruiters significant time and money whilst also increasing their advertising reach.
Follow Richard Collins on LinkedIn to explore of the latest developments in the sector and to learn how you can keep your Talent Attraction strategy ahead of the curve.