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(January 23, 1998) After getting excited about the HotJobs moves in advertising/marketing substance (see yesterday's column), we looked further into the product. It's even more impressive up close.
HotJobs does several things very well. They
They spend heavily to make sure that a client's ad is seen by the largest possible number of visitors. (Watch the Netscape/Yahoo pages!).
Finally, the back-end of HotJobs is designed to facilitate use of the system by all of the recruiters in an office or department. Resumes have comment forms, job listings have review/revision cycles. There's even an administrative function that allows levels of access / editorial privileges to be assigned within a department. It raises the standard for workplace integration.
Voodoo Free Sales Techniques
(January 22, 1998) We saw an interesting announcement from Hot Jobs, the rising industry star. The system's new features are centered on delivery of a "home page" for candidates that includes:
What was most interesting about the announcement, however, were the following statistics:
When you use a job posting service, all that you are buying is the likelihood that your listing will be seen by the right type of candidate. In other areas of the web (notably banner advertising), the parameters are becoming clear. It's worth between $.05 and $.12 each time your job listing appears on a search results page (the equivalent of banner "impressions"). Given normal web response rates, it's worth between $2.50 and $6.00 each time a candidate actually reads your listing. (Whether or not they respond to the listing is a function of how well it's written and beyond the control of the job board.)
You can easily calibrate the value you're receiving from a job board by multiplying the number of times a listing was seen (or read) by these numbers. Simply compare the result to your price.
While the Hot Jobs announcement is a great beginning, the information would be more useful if it actually defined average appearances (impressions) and average readings (clicks). Nonetheless we applaud their start and look forward to the day when the mystery is removed from the sales pitches. Hot Jobs is here to stay and appears to be setting real trends in results measurement and voodoo free sales techniques.
Online News Staffing
(January 21, 1998) Steve Outing is one of the brightest commentators on the subject of the online news media. Writing for Editor and Publisher online (which has an interesting piece on the classified advertising business), Steve's regular column is a constant source of insight on the evolution of old media into new.
His company, Planetary News, has just released a study describing the staffing patterns in Online News. If you're in the newspaper business online, it's a must read. If you're in the staffing/recruiting/advertising industries, you'll want to think about the following highlights:
(January 20, 1998) The word seems to be in. According to a column in last week's Wall Street Journal, Intellimatch went belly up at the end of last year. It's the first major casualty in the shakeout. More are coming.
As a core component of its strategy, Intellimatch held the notion that job hunters would easily and readily fill out reams of data about themselves. In a confusing, complex form, job hunters were required to categorize themselves into a variety of pigeonholes.
Recruiters were required to perform the same feats with their requirements. Matching, once the forms were filled out would be a simple process. They were never able to understand that job hunters are scarce and nervous while Recruiters are busy and behind.
Intellimatch also suffered from the disease of "too much money and too little sense". While there were moments of brilliance (Intellimatch placed the first ever website billboard along Silicon Valley's Rte 101), an overabundance of funding created bloated staffing and unrealistic expectations.
Their emphasis on executing a pure technical solution (in spite of continual market feedback) eroded Intellimatch's early market position.
We were reminded of this over the weekend. As we gather the data for our 1998 Electronic Recruiting Index and Top 100, we're revisiting last year's winners. One of our real favorites, Extreme Resume Drop has been absorbed into something called the Student Advantage Network. It's been moved from its home at Mainquad.com to become a part of the Bridgepath career site. Buried somewhere beneath all of the required input information, prospective employees can still use the functionality of Extreme Resume Drop. But, it's really buried.
The Bridgepath team seems to believe that the Intellimatch model was right. Any job hunter who wishes to use the service is ushered through an unimaginable series of queries and forms in order to be placed on the receiving end of job solicitations. It looks like they plan to march off into the Intellimatch sunset.
Is this another case of too much money and too little sense? All we can tell you for sure is that any site that requires extensive forms to be filled out before it delivers value is going to go bust. It will happen as soon as the money runs out.
(December 08, 1997): Our educational series has been expanded. We will be delivering seminars in 15 cities this Winter. We will be offering both of our successful courses, updated to reflect the changing web environment.
Seminar I: Management, Strategies and Tactics
Seminar II: Advanced Searching and Sourcing
Graduates of both receive:
Enroll today, seats are still available. There is a discount available for early registrations.
This is our Winter 1998 Seminar Schedule. We will be delivering both seminars in each city.
Call our offices for more information at (800) 358-2278
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