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January 9, 2020 | Joveo | Our Thinking
Measure, Automate and Optimize all Your Job Slots
By Swaraj, Associate Product Manager, Joveo.
Do you have Slots as part of your job advertising media buying strategy today?
Do you manage Slots along with other job-boards together in one place?
Do you know the effectiveness and utilization of Slots?
If these questions are relevant to you, then you are in the right place. We can help you learn more about job slots, how to manage them effectively, and execute a multi-channel buying strategy in one place.
In this ever-evolving world of recruitment advertising, you are presented with different options for job advertising. It all started with bulletin boards, and now we have Postings, Slots, and Performance-based (PPC, PPA) publishers. There is a merit for performance-based models as you pay for what you get. But it does not necessarily mean that it always delivers the best results. At the end of the day, all that matters is hires. And it is a function of the job board to have the right job seekers and present them with the right job ad, regardless of the underlying business model. Today, many publishers provide slots, including the likes of LinkedIn, Glassdoor, Monster, and Zip Recruiter, to name a few.
As opposed to a traditional job posting where you post a job on a job board for a standard amount of time (usually 30 days), a job slot allows you to post, re-post, edit and replace jobs as many times as you like. It is like a parking spot, and you can park as many cars as you want but only one at a time. Job Slots provide flexibility as they allow you to sponsor multiple jobs within the same slot but only one job at a time. According to the 2013 Recruiting Channel Survey and NHRA Study, LinkedIn slots delivered the highest quality of applicants at an affordable price range for IT jobs.
Though Slots are flexible, it comes with many challenges:
How do I measure the returns from Slots and compare them vs. PPC media?Slots are purchased for a flat fee over a specific period of time. The time for which a job stays in the slot can also vary from one day to multiple days. Hence measuring a slot on a per job and per click/apply basis gets a little tricky.
My slots are under-utilized, and some don’t even get used at all.The efficient utilization of slots to get maximum applications is one big problem. And when you try to rotate your slots, how do you even know whether you are efficiently utilizing the slots available to you? Is it truly a data-driven approach? Is every user trying to optimize Slots efficiently? A lot of the time, the job expires, and the job is still in the slot.
How do I optimize and automate the slot rotation?According to Workopolis research, postings attract the most seekers in the first three days. Swapping jobs in and out of Slots is time-consuming and complex. Some jobs might not even need slots exposure because they might get enough applies from organic traffic or native traffic (from your career website). So how does one even decide whether to expose a job to slots or not?
These are some of the problems that users face daily in using their Slots package. One may therefore ask is if this can change by taking a data-driven approach and letting the machine make the decision about which job to rotate when to rotate, and where to expand the reach in order to drive the applies you need for that job to make the hire.
Imagine having a slot management solution which does the following:
Manage all Slots from one dashboard:Track and compare the performance of Slots across different job boards and job posting types. And report all the results on a standard metric of CPC, CPA, and CPH, which will thus enable you to have an effective multi-channel media buying strategy.
Automation: that can maximize Slots utilization by swapping jobs in and out automatically, predicting traffic from organic & native, and activating Slots just at the right time and for the right duration. Better still, the machine learns from the patterns of which Slot performed better and automates for higher performance on its own.
AI assistant: An assistant that works for you, and all it needs to know is your goals. Consider an assistant which has the intelligence to predict jobs that will perform best, corrects job titles, and other necessary content when needed and automatically swaps jobs in and out of the Slot.
Recently, we came across two customers who were struggling with ROI for Slots. A leading healthcare company was under-utilizing its slots package – it was around 60%. This means they used only 6 out of 10 slots, so they had4 slots that were never used. Using our platform, they were able to achieve 100% utilization at all times. What’s more interesting is to note that effective slots management helped them in achieving more than 40% lower CPAs than all other sources.
If you would like to learn more about how we were able to lower the CPA by 40%, please reach out to me at firstname.lastname@example.org, and I will be happy to help.
Joveo® delivers the most relevant hires in the shortest time to companies around the world. Providing real-time insights at every step of the job seeker journey from click to hire, our AI-powered job advertising platform dynamically manages and optimizes sourcing and applications across all online channels. Powering 15M+ job postings every day, our machine learning continuously identifies success, learns and improves to reach the talent you need, when you need it.
Built for ease of use, Joveo replaces the guesswork, complexity, and inefficiency of today’s recruiting with intelligence, transparency and efficiency, delivering more relevant candidates, more certainty, more success.