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April 24, 2018 Using Data to Drive Job Board Performance Tim Burton, Customer Success Manager

Using Data to Drive Job Board Performance

Data, data, data, It’s all about data. Make no-mistake about it, we’re at the start of a data-driven revolution and the online recruitment industry will not be exempt.

If you’ve been to an industry event lately, you’ll know that better than most. Agendas have been dominated by conversations about Artificial Intelligence and Machine Learning.

And for good reason.

Predictive analysis is already transforming the way the online recruitment environment works and the value job boards can bring to jobseekers and employers alike. But, you don’t have to be a data scientist to use your data to drive your business forward. There are numerous opportunities to earn extra revenue and power growth by being a bit smarter with your data.

Let’s take a step back and look at a few simple tactics you can start using from today – without the need for any technical expertise.

Identify Job Categories That Are Right for Growth

It’s important to interrogate your data to spot opportunities for driving more revenue. Examining the demand for jobs in certain categories in relation to the number of jobs you have live is a key way to achieve this.

Using your job board analytics tool (in the case of Madgex clients that’s the Insights reporting suite), look at the percentage share of visitors, applications and live jobs for each category on your job board.

Now you can compare them. If you have a high percentage of active users compared to the average number of jobs in any category, then you need to acquire more jobs to meet the demand of your audience. Now you have a compelling sales message to take to employers - you have high demand for jobs in this area with limited jobs to service that demand.

Identify Target Employers Where You Have More Jobseekers Than Jobs

Now you know which categories of your job board require focus from your sales team, you might want to identify specific employers that operate within these areas. With your compelling story of high jobseeker demand, you should see a high conversion rate with these target employers.

To do this, you’ll need to filter your data by the job categories you’ve already identified, and then pull a report on employers that have posted into this category in the past.

 Provide Compelling Stories to Convert Your Advertisers

Providing compelling data to your clients will help them understand how spending their budget with you will generate results. It’s an opportunity for you to make sure they’re spending their budget in the most efficient way possible and really strengthen your relationship with them.

Exactly what data you have access to will depend on the analytics product behind your job board. But key metrics to nail down would be:

• Jobs Live

• job Views

• Job Applications

• Job Response Rate %

• Views Per Vacancy

• Applications Per Vacancy

• Resume/CV Uploads

• Email Shares and Social Shares

These numbers will help you to understand the performance of your categories on a much

more granular level and provide information to your clients that will set you apart from your competition.

 Know Where to Focus Your Up-sell Efforts

Up-selling is one of the best ways to increase the yield and revenue that your jobs can generate. If you know which jobs and advertisers to target you will maximize efficiency and increase your overall revenue.

To do this, you need to identify the categories of your job board that are highly saturated. These are the categories with lots of live jobs and lots of job alert email sends, but very few applications by comparison. In a category like this, competition for candidates and applications is extremely high, making an up-sell a very attractive proposition.

These are just four very easy ways you can start using your data to drive efficiencies and revenue for your job board. But, there’s plenty more where that came from.

Download our 10 Data Tactics to Drive Job Board Performance for more practical advice on how the leverage your data.