Recruitment marketing is becoming more data-centric as HR and talent acquisition professionals’ needs and strategies evolve. Recruitment marketers are relying on data to plan and test strategies, as well as determine ROI. With the increasing value of data, it’s important to understand mistakes you could be making and what you can do to avoid making them.
Mistake #1: Only using one metric to evaluate performance and success of your recruitment marketing efforts
Recruitment professionals often look just at the data they consider most relevant to their goals. Looking at just one unit of data can cause professionals to miss out on valuable insights and correlations between the data being reviewed. Each metric is a piece of a larger data-centric puzzle. Looking at them independently can cause you to miss out on the bigger picture, so it’s important to look at all the units of data as a whole.
For example, looking at Click Volume (or Job Views) may show you whether or not job seekers have interest in your job posting, but just focusing on this one metric won’t tell you everything you need to know about how job seekers interact with the job posting and whether or not they apply. Considering a second metric, like Conversion Rate (CR%) will give you a better idea of whether potential candidates apply to your job or not. A higher CR% rate can reflect highly engaged job seekers and/or intriguing and well-written job description copy, while a lower CR% can reflect the opposite. So, while your job posting may have a high Click Volume, a low CR% can provide insight into whether or not the job description or apply process needs to be optimized, or if the job is just hard-to-fill (HTF).
To avoid missing any insights or correlations between data, ensure you have access to as many data points as possible, and make sure you can easily understand how to analyze it all for a variety of different insights.
Mistake #2: Misunderstanding the full story that your data tells you
Sometimes analyzing recruitment strategy data can be overwhelming and easily misunderstood. With a variety of metrics and KPIs important to your recruitment marketing strategy, it’s important to understand how they relate to each other. Each metric offers a new insight, and looking at every piece of your recruitment marketing data puzzle can help you find correlations and see the full story behind your data.
Take media spend, for example. This metric is important as recruitment marketers often have a budget to follow, so being able to understand the ROI of your spend is important. Normally, being under budget is considered a good thing, but for recruitment marketers looking to fill open positions, it could mean a job isn’t performing well and may not lead to a hire. By including other metrics like Click Volume and Applicants in your analysis, you will get the full story behind your data and a better idea of how your jobs and campaigns are tracking towards your goals. Understanding the full story that your data tells can help you see if jobs are HTF, or just not getting enough traffic, which can help you make a data-driven decision to optimize your recruitment marketing strategy.
Make sure you have a comprehensive recruitment marketing analytics dashboard that makes it easy for you to analyze and understand all of your data, and what it means for your strategy. Being able to see campaign performance at the job-level and source-level, as well as having this pertinent information consolidated into a single, centralized report can help you make strategic, data-driven decisions.
Mistake #3: Not taking data-driven action to optimize and improve your recruitment marketing strategies
While some recruitment marketers have access to an array of data and metrics from their recruitment marketing results, they don’t use the data to optimize or improve their recruitment marketing strategies.
Some recruiters literally hold the information and insights they need at their fingertips, but don’t rely on it when planning and altering strategies.
The entire point of having deep analytics is to take action from them, so you can make smarter, data-driven decisions to help improve your recruitment ROI and to optimize your job advertising strategies. Optimizing campaigns based on recruitment marketing analytics will allow you to identify underperforming jobs so you can allocate budget to better performing jobs, and develop a more efficient talent acquisition strategy to improve your ROI.
If you don’t have access to deep, job-level analytics around your job advertising campaigns, sign up for FREE Recruitics Analytics today. Recruitics Analytics allows you to view job-level data like job views, applications, conversion rates and more, all in a consolidated reporting dashboard so you can see all the information you need in a single, centralized place. Having access to all this data will help you avoid making these common mistakes and improve the effectiveness and efficiency of your recruitment marketing strategies.