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November 26, 2019 | Joveo | Our Thinking
Recruitment Advertising Has a Trust Crisis!
By Praful Gupta, Associate Product Manager, Joveo
Recruitment advertising is complicated and often invisible. Employers are using multiple publishers and agencies for their recruitment needs. These publishers and agencies provide very high level and limited insights into the job’s ad performance: where the traffic is coming from, and the performance of different publishers used. Since a lot of traffic is generated by sub-syndication, the very nature of their business model necessitates a lack of transparency. As a result, employers get limited visibility into the recruitment funnel – from a click to hire – and it is impossible for them to know the true cost of a click or a hire.
Today, the demand for recruitment is met by different kinds of publishers like Postings (ex: Monster, Dice), Slot (ex: LinkedIn, GlassDoor), PPC (pay-per-click), PPA (pay-per-apply), Facebook and Google Ads. Isn’t it very difficult or impossible in the first place to manage these different kinds of publishers in one single platform and be able to have normalized performance metrics across these channels? The media has to be managed from a single platform so that it has all the visibility of channels for us to optimize. Once you are able to manage all the channels in one place, imagine having the ability to measure different kinds of metrics like CPC, CPA, CPRA, and CPH, all in one place. Measurement has to get a lot better to normalize the metrics.
The measurement of channel performance is one side of the coin, the other being able to track the candidate journey. A lot of quality candidates drop-off somewhere in their journey to apply for a job due to different reasons like mobile experience, lengthy applications. Imagine having a solution that can track all through the candidate journey, identify exactly where the drop-offs happen, and be able to optimize.
Furthermore, the transparency woes get exacerbated when programmatic companies have a conflict of interest with their growing business. This internal conflict leads to a lack of transparency. Transparency is indispensable in today’s climate. Without transparency, you are at a disadvantage when it comes to deciding what and where to optimize to deliver the best results.
Employers, (incl. their media agencies & RPO’s which they trust to act on their behalf) therefore must measure and track job seekers’ footprints from click to hire across the candidate journey. They all need to be empowered with data in one place where they can see all their jobs, clicks, spend, and performance in easy-to-read dashboards. Moreover, the technology they trust must be truly agnostic and completely transparent as to where your spend is going and how it’s performing. From traffic source, CPC, CPA, CPH, CTA (Click to Apply conversion), and performance reporting by each source, your technology must provide performance details at the most granular level. Only with visibility into the recruitment funnel, would you know where to optimize the job seeker experience to give you better results and make data-driven recruitment strategies.
One of our customers was experiencing high CPAs on Indeed. Better transparency in joveo enabled them to properly segment their jobs by categories and priority and send them to the right publishers. This mixed with Joveo’s algorithmic optimization to adjust bids based on CPA & apply volume, resulted in a 40% CPA decrease and 27% overall cost savings.
Transparency is a key way of creating trust. We believe in building relationships and add value to our customers rather than just selling products. We strongly believe that If you can’t measure it, you can’t improve it. We can’t know whether or not you are successful unless the success is defined and tracked. With a clearly established metric for success, you can quantify progress and adjust your process to produce the desired outcome.
To know more about how we can help you with your recruitment needs, please contact me at email@example.com.
- CPC: cost per click
- CPA: cost per apply
- CPRA: cost per relevant apply
- CPH: cost per hire
- CTA: click to apply (conversion)
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.
Reach them, recruit them, with Joveo.
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