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The Marketing 4P’s Part 2
Posted by Nicky Coffin
Last time I posted about how to develop your marketing strategy and I referred to the classic 4P’s of marketing.
With many recruitment directors keen to expand, the traditional sales and marketing strategies are unlikely to deliver the growth needed, especially as you recruit more consultants and develop your brand to leverage the opportunity in the current employment market.
The world has gone digital and with it comes a huge range of choice for both candidates and clients. The question is; will they chose you?
Last time we covered in detail how the first two elements work in recruitment. Today I want to expand on the final ones which are; placement and promotion.
In the business world outside of recruitment this would be about distribution channels. In other words how we get our product out into the market so it can be consumed.
If you are a fan of Dragon’s Den you will have experienced the various conversations about having a product listed in a major retail outlet. Only last week I was wondering around B and Q and was confronted by a sign that extolled the virtues of a particular piece of kit; as seen on Dragon’s Den.
Almost guaranteed sales along with less profit after a certain ‘dragon’ takes their cut.
How might this work in recruitment?
One of the most obvious is being on a PSL (preferred supplier list). Depending on your market sector this can work well for you. A high volume of vacancies to fill though generally at a much lower fee.
Good for cash flow maybe and not always the most rewarding type of recruiting.
You might decide you want to work in contracting or perm or a mixture of both.
Then there is split fee recruiting as a strategy, often utilised by smaller companies or larger organisations that need to fill places fast. Then in certain sectors the master vendor and RPO raises it head. A myriad of different placement strategies.
In theory any of the above are fine depending on what you want to do. All I suggest is make a decision on which ‘channel’ you are going to use because your promotional plan will be influenced by your decision. A fact some recruitment owners forget.
Before you do though here is something to consider.
For me one of the most appealing placement strategies for my clients is retained search. This links in well with the pricing strategies we referred to last time.
Here you and your organisation can stand out as an agency that delivers the best quality of candidate at a fee that realistically compensates you for your work and expertise.
An ideal scenario, would you agree? Provided of course you get the next bit right.
This is the part where you take your recruiting product/service out to the market. Historically most recruiters have implemented a push rather than pull strategy.
I know from my early days as a consultant it was all about picking up the phone, cold calling or stalking people at networking events or tradeshows.
Let me be clear there is absolutely nothing wrong with picking up the phone. However it will work better if the individuals concerned have heard of you before and understand your ‘offer’.
That is the value of marketing.
Marketing is about creating demand for your product or service and for independent recruiters; you as an individual.
I work with a number of individual recruiters who are ‘celebrities’ in their own sector and they are turning over multiple six figures because of it. Their focussed attention on the 4 P’s have put them in that position. Though it might sound corny they literally are on clients and candidates direct dial list.
What promotional plan do you have in place? Do you have a strategy? I am a business owner not a marketer though I do know what works and I outsource my marketing because my time is better spent elsewhere and I suggest yours should be too.
However, here are some suggestions for you.
- Have a plan that is implemented; consistently. Remember the principles of influence.
- Have a value proposition that communicates exactly what you do and the results you can achieve for both candidates and clients.
- Have a website that is mobile responsive and looks good! Remember it is the equivalent of your shop window and communicates your brand.
- Create marketing funnels through value added content that will position you as an expert in your sector and create inbound leads.
- Use all the different social channels
These are the strategies my successful clients are using and they supplement their other KPI’s that are in place. Take action on the two areas from last time and your placement and promotion and your recruitment company will grow. Guaranteed.
Want to find out more about how to manage you team to deliver more ? If the answer is yes watch my free webinar – ‘The 6 Step System to Convert Your Under Performers to High Billers in 14 days or Less’