Nearly half said that business diversification was a top priority in 2021. It’s a growth strategy that can unlock a whole new level of growth for your recruitment agency. More clients, more placement revenue. All in all, it could be the boost your agency needs to accelerate into post-pandemic growth.
But it’s also a big risk. Agencies planning to diversify often find that starting out in new markets and sectors is a massive challenge. Candidates are different. Clients are different. Competition is different. You need to be ready to experiment and be prepared to adapt to different recruitment conditions. Being smart about your recruitment marketing approach can help.
In this growth blueprint, we’ll show you how you can use recruitment advertising to reduce the risks associated with diversifying - to help you quickly move from ‘trial and error’, to getting valuable recruitment results. Get better prepared to take the leap and scale.
Your first job board advertising tests in a new market or industry niche shouldn’t be huge commitments. The most important thing is that you’re able to quickly see what’s working and rapidly test and tweak options. Long-term contracts or fixed inventory might not let you do that.
Performance advertising channels may be the right place to trial. It’s because performance advertising allows you to be much more flexible - perfect for when you need to test quickly and learn fast. You can start out by setting a limited budget across a broader range of performance channels to get an initial indication of what works. Then, you can double down on where you get results.
Because you get data back immediately, and you’re able to optimise as you go along, you’ll have more effective advertising set up faster. That means it will take considerably less time to have advertising that works.
Running these tests across multiple different performance job boards can get complicated and time-consuming. Because they require much more frequent monitoring and adjustment, it’s useful to find a more automatic way of managing it (such as the programmatic advertising services offered by people like us at Talent Nexus, Recruitics or Joveo).
However you decide to manage your testing and optimisation, you’ll be able to make even better advertising decisions if you’re able to learn from past advertising too.
Large recruitment advertising organisations can usually provide some really insightful data about the specific market you’re planning to branch into. This could include information about the average cost per application rates and particular channels that are effective.
Once you’ve nailed down a strategy that’s working, you’re ready to scale up and take the new market by storm. When that day comes, it’s important that you’re able to quickly and easily scale up the smaller-scale advertising campaigns you’ve been testing into larger campaigns that support your growth.
If you’ve been testing using pay for performance channels, it’s incredibly simple to start increasing advertising volumes once things take off. As you begin to advertise more jobs and expand your operations, you’ll be able to continue making changes and optimisations to ensure that your advertising is always performing as good as it can be. If you’re working with an agency like Talent Nexus to manage your advertising, our team of specialists and market-leading software will be helping to do this automatically.
Put all of this together and you’ve got a plan to accelerate towards effective results in your new area of recruitment. Ready to take this opportunity to grow?
If your agency is planning to expand into new areas, book a walkthrough of these growth blueprint techniques with our recruitment advertising specialists.
If you manage or oversee job board advertising contracts, this growth opportunity is too good to miss.