3 Overlooked Strategies to Increase Revenue with a Job Board
Job board market is rapidly emerging. Every day more and more people prefer to search jobs online. Besides, people are always interested in what’s happening in recruitment within their industry. If a person is looking for a job, he/she on the first place is going to check job boards that are relevant to his/ her industry. Passive job seekers also keep track on potential opportunities and can be tempted by advantages other employers offer. Those who are happy with their employment as a rule also keep an eye on their job market, to determine the best time to ask for a promotion or just to stay up-to-date with industry job requirements. In short, the demand for niche job boards is huge and if you have a website with a decent traffic, adding a job board can be a great way to increase site revenue. In this article, I will provide you with three overlooked strategies to earn more money with your job site.
1. Offer Flexible Revenue Models
The biggest part of job boards serve to two core audiences: job seekers and employers. 8 out of 10 sites focus on revenue models for employers as they are more likely to pay higher fees than job seekers. The biggest mistake job boards can do is to charge employers just for the job posting. Why should employers choose you among other niche job boards who also charge for the job posting? Offer them flexible and diverse possibilities to show off their vacancies like:
Featuring job listings – place job listings on the top of your search results or feature them on your homepage. Enhance featured listings with fonts, images, highlight with another background and so on.
Charge for the number of job views/ number of applicants – A perfect win – win strategy. Charge your employers for the leads they get from your site. The more views and more applicants the job posting receive, the higher commission you will get.
Share job listings in your social media – Do you a huge community in social media? Use it wisely and charge employers for sharing jobs listings.
Space Advertising – Charge for placing any visual ads on your site: banners, buttons, tile adds – and everything in between.
Packages – Combine any of the above-mentioned tactics and build packages in the different price ranges.
Membership fees – Charge your job seekers for accessing job listings. Try to offer recurring subscriptions – as it is most likely that your job seekers will stay longer on your site than with a onetime payment subscription.
Offer additional services – Are you good at resume writing? Offer your job seekers resume writing service as an additional service they can purchase.
2. Integrate with Indeed, SimplyHired, JobG8 network and other job aggregators
The biggest part of job boards miss an opportunity to earn commissions from such job aggregators as Indeed, Simplyhired, Beyond, Juju, JobG8 network and others. The logic of such systems is simple. You get a commission for each applicant you supply. Of course, each job aggregator has its own terms and conditions, and we recommend you checking with them before integrating your job board. But overall, job aggregators can be a great possibility to earn extra cash from your job site. Don’t underestimate it.
3. Build Apps
It is not a secret that that the world is becoming more mobile. People spend a lot of time surfing the internet using their mobile devices. Why not to be in trend and offer your customers to download your job board applications? You can charge them for downloading the apps, offer in app purchases, or come up with your own monetization ways – the sky’s your limit. Besides, you can create your applications the way that once your site has a job that perfectly fits job seekers requirements; they will get automatic notifications. The same you can do for your employers – offer them to view applicants details and do not forget to add approve/ reject buttons. In such a way, your audience will always stay engaged with your brand and you will be amazed how your conversion rates will increase.
Not sure, how to get started your job board?
There are tons of good solutions available on the market you can choose from. WordPress offers a bunch of great plugins and themes. They are affordable and relatively easy to manage and to install. A huge advantage of choosing WordPress is that they have a huge community of developers. Once you feel that you need more advanced features or integrations, you always will be able to find someone who can help you for a modest price.
If you think that you need a powerful solution from the beginning that will have all the necessary integrations, applications and tools to create and manage your niche job site – you can check SmartJobBoard. How SmartJobBoard is different from WordPress you can check in this article “WordPress job board theme vs SmartJobBoard”.
These were three overlooked strategies to monetize a job site. If used wisely job boards can be a great source of additional revenue. I hope you enjoyed the article and what other strategies do you use to monetize job sites?