Retail Appointment May 2018 TRAP_May 2018_Digital Edition

ne job advertising in the next frontier What is performance media? Pay-for-performance is a payment model that allows you to advertise all your open jobs and pay only when you get some sort of positive response. Usually, that means one of the following: Cost per Click (CPC): You pay every time a candidate clicks on your job ad. Gener- ally, this means a click on a job’s preview snippet generated either by a job search or an email alert. Clicking the ad directs the job seeker to the full job description. Cost per Apply Click (CPAC): You pay every time a candidate clicks on the button to apply for a job. The online job application may be located on the job site or on your own applicant tracking system/career site. Cost per Apply (CPA): You pay every time a candidate applies to your job. Usually, you agree to pay a speciﬁc amount per click or set a total daily or monthly budget which your clicks con- sume over time. It’s an alternative to the pay-per-post model where you’re charged a ﬂat fee and your ad expires after a ﬁxed period. We half-jokingly call this model “post and pray” since there’s no way of knowing whether you’ll get a million ap- plications or none. As seen to the left, with a performance media model, employers gain more con- trol over the returns of their ad cam- paigns, better utilizing their budget to gain more applicants across more of their jobs. Conversely, duration-based ads give em- ployers no predictability of the returns they’ll get from a post or slot ad; it’s likely to receive too many or too few applies. What’s driving the trend? In a word: inevitability. Where consumer advertising goes, recruitment follows. Google disrupted the consumer world for- retailappointment.co.uk ever with pay-per-click (PPC) advertising; ﬁve years later, Indeed launched its own PPC model that revolutionised the way employers bought job ads. Stateside em- ployers have turned to performance in droves since it creates an environment where you don’t have to beg for more budget to plug the holes left by your under-performing job ads. If it works, you pay. If it doesn’t, you don’t. Now, programmatic ad buying is picking up traction. This year, eMarketer predicts that well over $46 billion of ad spend is going to be managed programmatically. In the US, programmatic ad buying for jobs didn’t exist three years ago. Now, it won’t be long before 80 percent of all jobs are also managed this way. It’s only a matter of time before EMEA follows suit. Where does programmatic technology fit in? Performance media ensures that you’re not spending money when no one is looking at your ad campaign. But, it can be hard to manage if you sponsor a lot of jobs. What happens if too many people click the ad and you end up paying for trafﬁc you cannot use? What if your budget gets burned on easy-to-ﬁll warehouse jobs when you still have no applications for your hard-to-ﬁll credit manager roles? Programmatic solves these problems by using technology, not people, to buy and place click-based job ads. It’s the tool that makes performance work well. With a programmatic ad buying strategy, you plug in the type and volume of appli- cants you need for each job or job group, then the algorithm automatically sources the right amount of candidates who are likely to be a good ﬁt for the job. For ex- ample, you might specify that if your warehouse job gets 30 applicants, then stop spending on this job and reallocate the budget to your ﬁnance positions. Pro- grammatic optimises your sponsorships so you’re spending more on the jobs that need more applications and less pro- moting the jobs that already have strong candidate ﬂow. What’s really clever is the software looks beyond the usual job boards and places ads on niche and consumer sites that you might never ﬁnd on your own. Wherever your ideal candidates are hanging out on the web, programmatic will ﬁnd them. This wide-net approach reaches passive candidates and makes a signiﬁcant differ- ence to candidate quality. All this makes your recruitment budget go much further. What EMEA has to look forward to For consumer brands, programmatic is no longer an experiment, it’s part of their long-term marketing strategy. The ability to buy advertising more ﬂexibly, to use it when you need it, and to pay for the re- sults you get, is very enticing. And where the digital marketers go, recruiters always follow. History repeats. Programmatic for jobs didn’t exist three years ago. Soon, it will manage the lion’s share of recruitment advertising spend in the US. Leading job sites and media agencies in EMEA are just catching up with this new reality, and with the world marching to- wards programmatic optimisation, the trend towards performance media buying is now inevitable. The opportunity is to welcome what’s coming, and understand how your business can beneﬁt from it. Roy Jacques, MD - UK & EMEA for Appcast Appcast is using data and programmatic targeting to rev- olutionize the global recruitment advertising industry. From its namesake pay-per-applicant job ad exchange to its market-leading recruitment media optimization plat- form, Appcast is changing how leading employers, ad agencies, and job boards attract high-quality job seekers. Visit www.appcast.io to learn more. 05

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