Increasing the ROI on your Indeed Sponsored Job Posting
Many organizations are turning to job boards like Indeed to source talent. With the unemployment rate hovering around 4%, sourcing quality talent often takes multiple resources. These resources can be overwhelming if you are trying to manage the platforms, investments and your positions. It’s common for employers to try to throw money at the issue, especially as many job boards transition to a pay-per-click (PPC) model.
Optimizing your sponsored job posting is possible but it takes finesse. That’s where we come in – there is a science to the ‘cost per click’ model. Knowing how much to spend is best determined by knowing the position and the market. Many organizations allocate a set budget each month and try to sponsor all their jobs within it. For example, say your organization wants to spend $10K a month to sponsor 200 jobs. That equates $50 per job, but only $1.67 per day, per position for 30 days. Depending on the position, cost per clicks can range from $.50-$1.00 for easy-to-fill positions and $3.50-7.00 for hard-to-fill positions and markets. This is what makes strategy key. A well-spent budget increases your ROI.
When working with our clients to improve (or create) a paid strategy there are several factors we discuss. Indeed offers budget guidance through customer support teams and the tools available on their website. Unfortunately, if the pay per click model is new to you it’s easy to invest a higher amount than necessary.
We start by assessing your high priority positions and their geographical markets. Prioritizing positions means careful consideration of the number of openings, how long they have been open, the type of positions and their location. We also look at your historical applications and hires by media source. These elements are vital to determine how we can most effectively use your budget moving forward. The goal is not to have our clients spend more, but to use their budgets more wisely.
The secret to optimizing Indeed
You may not be aware of some opportunities your organization has to improve your presence on Indeed. Indeed offers organic and sponsored jobs – this you may know. You may also know about their robust resume database – the largest talent resume database. But many organizations overlook the fact that Indeed sets up company profile pages which each employer can claim and customize.
We work with our clients to brand their company profile page to provide visitors with content about the organization and positions. There’s so much you can do to make your organization stand out. You can link your social channels and share employment related videos. On the company profile page job seekers can also sign up to receive company job alerts about that organization. Most employers are shocked at the amount of traffic their profile page receives and the number of automatic alerts that are sent to job seekers on their behalf. In May during Indeed’s annual Interactive Event, Indeed will launch their new company profile platform with more functionalities for both user and employer!
Indeed Ad options
Indeed’s core business is their organic listings (free jobs) and their sponsored campaigns which are based on a pay per click (PPC) model. When you launch a sponsored campaign, you’re bidding for your job posting to appear higher in the search results string. While they don’t offer display ads on a PPC basis like Google Adwords (yet), they do have display ads through their Targeted Ads program. This is a new endeavor that allows employer and job branding as targeted ads to be served to individuals that have applied for a like job. The organic listings are scraped or feed through a ‘job feed’ from the applicant tracking system to the Indeed platform.
Creating a strategy that optimizes paid and free options on the Indeed platform may be complex, but the fundamentals are simple. Know your options, know your positions, know your budget. If you need help fleshing out these aspects, come to the experts. We’ll ask questions you didn’t realize were important and get all the details you need to optimize your budget. As we said before, our goal is to use your current budget to the fullest advantage, not to increase it. Contact us today and find out how we can get you from Strategy to Execution (and results)!