How much budget should be allocated to each part of the recruitment marketing cycle, when the cycle is never the same?
The strategy behind figuring this question out is called attribution modelling. There are countless attribution models a recruitment marketer can use to allocate budget depending on the goal.
Now, why is it important? Well, if you spend the entire budget on one stage of the recruitment marketing cycle when multiple touch points are generally required to acquire a new Talent, then money will be wasted and opportunities missed.
[bctt tweet=”Reminder – putting all your eggs in one recruitment basket is not the best idea.” username=”ATCevent”]
To give you an example of how to choose the right attribution model for your unique hiring situation, let’s take a look at the following scenario: Day #1: Job seeker Anna wants to find a new job as an engineer. Anna types ‘engineer’ jobs into Google and clicks on one of the organic listings on the Google search engine result page and lands on Adzuna website. Day # 2: Anna continues her search for an engineering job, and clicks on one of the pay-per-click (PPC) ads on Google to land onto Adzuna website again. She then subscribes to Adzuna’s job alert to receive daily EDMs about new engineering jobs on Adzuna. Day #3: Anna receives an eDM from Adzuna with multiple jobs for engineers. One of the roles looks perfect! Anna clicks on the job and it’s a doozy! She promptly apply’s for the job.
Before we take a look at the different attribution models we could apply to this situation, have a think about which part of the recruitment marketing cycle you would allocate the most budget. Would you allocate half the budget to organic SEO and split the remaining money evenly between PPC and EDMs? Or would you put most of the budget behind that final action, the direct mail out to the jobseeker?
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Ben Phillips heads up job search engine Adzuna's PR & content team. He spends his days hunting for trends in Aussie employment data and attempts to turn tedious numbers into newsworthy stories. Before joining Adzuna, Ben studied journalism at the University of Wollongong and went on to start his career in PR as an account manager for the Telstra Business Awards.