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Part 2: Should Job Boards offer a pay for performance model?

In my last post, I mentioned that job boards had good chances of survival if they are prepared to adapt their models slightly by offering a performance-based model. Today, I will be looking at how and why job boards should make this a priority.

Why should job boards offer a PPC model?

Direct clients love paying on performance, whether it is per click or per application, as they only pay for what they get meaning there is less financial risk for them.

Unlike with a duration based model, job boards are less likely to get unhappy clients when a job ad has not delivered their desired number of responses, but they have still had to pay a small fortune to advertise with them.

When clients pay-per-performance, it aligns goals, both job boards and their clients win and lose together.

Can job boards make more money by adding a cost-per-click product?

Put simply, yes.

Why? Because we have advertisers who are desperate to spend with job boards that take CPC.

How do job boards add a cost-per-click product?

  1. They need to pick a rate, probably a flat amount per click (a good place to start is total revenue divided by number of clicks generated) if unsure £0.30 works too.
  2. Next, they should take an XML feed of a direct employer’s jobs from a programmatic / network provider and include the jobs in their search results (we can provide one in about 15 minutes – we look after lots of big brands’ performance media spend including Sainsbury’s group, Mitchells and Butler, Avis, and many more who would be delighted to be included).
  3. Finally, they should log into the media dashboard that we provide to see how much money they have generated and send us an invoice.

Should job boards stop clients advertising on a pay for duration basis?

They need to offer both and let clients choose which they prefer. Don’t throw the baby out with the bath water. Think back to how publishers moved from paper to internet products. Job boards need to adapt but they cannot kill the golden goose in the process.

Click below to view the next part in our 
Job Board mini-series:

It’s the conversation on everybody’s lips – will job boards survive the changing recruitment landscape?

Here at ClickIQ, we think they will, but they will need to adapt to survive the coming years.

What does the longer-term future look like for job boards?

With a number of mega-corporations entering the market over the last few months and the trend likely to continue, what can we expect the job board market to look like in the future?

About ClickIQ

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.

If you would like to find out more or want to know more about ClickIQ, then email us at hello@clickiq.co.uk or book a demo via the button below.

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