How will Programmatic Advertising change the game in Australia*.
*when Seek is still so dominant…
Programmatic advertising is coming to Australia with the announcement from Appcast (Appcast.io) that they have found, in the Digital Academy a likeminded partner.
But what is Programmatic Recruitment Advertising, and is Appcast’s Cost Per Applicant Recruitment Advertising Model – a reality.
Programmatic Recruitment Advertising (PRA) is the application of modern digital advertising methodologies and responsive technologies to the world of advertising jobs. It is essentially an extension of the Cost Per Click digital advertising model.
Cost Per Click advertising model:
As an advertiser, you ONLY pay when someone clicks your advertisement. This is usually measured in CPM – Clicks Per Thousand (with the M being from Roman numerals). 90% of ALL advertising that you see online is bought in this manner.
The risk with this strategy is that threefold:
- The ads that receive the most clicks are those that are inundated with applicants.
- As a result, limited advertising budget is essentially wasted on ads that receive too many applicants or the wrong applicants
- Those jobs considered Hard To Fill – receive exponentially less applications.
Both traditional Post and Prey Recruitment advertising, and native CPC advertising also fail the Recruitment Team in two other key areas.
- The Rise of Mobiles as the Dominant Platform – the numbers of job searches from mobiles is increasingly massively, whilst the conversion is remaining very low.
- Apply processes remain very weak.
Solution –> Cost Per Applicant model
Appcast’s algorithms – take this to its logical conclusion from a recruitment perspective – with advertisers only being charged when an applicant COMPLETES AN APPLICATION, rather than simply clicking on the Job Ad.
If they do not complete the application in the ATS, there is no charge.
This makes the reward for payment a job well done.
ADVANTAGES OF THE CPA MODEL
By charging only when a job seeker applies, CPA offers clear advantages over duration-based ads and CPC:
Massive reduction of risk: with no fee to list positions, employers can list all open jobs across a variety of locations for free. Employers only pay when a listing generates an application, so there is little risk involved.
Greater partnership between employers and publishers: CPA publishers are highly motivated to drive the most value, in terms of applications, towards the employer. In partnership with a quality CPA provider, employers are likely to see a reduction in their time-to-hire.
Real-time data enables smarter decision-making: For employers, real time data about application volume enables smarter decision-making about where to allocate budgets across the recruitment campaign.
Better ROI: an investment in CPA removes the gamble from duration based ads and eliminates the low mobile conversion risk and application length drop-off associated with the CPC pricing model. Used intelligently, CPA can drastically reducing the overall cost per hire.
Finding the right talent continues to be a challenge for most organisations, and the move towards introducing technologies is natural.
The Cost Per Applicant model, together with developing Talent Brand, and Pipelining, gives a Recruiters the edge in engaging with applicants and receiving applications for hard to fill roles.
For more information – please call Max King, 0403 604 782 or visit www.digitalacademy.social