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Where Does Marketing Fit In Growing My Agency?
Posted by Nicky Coffin
I am known in the industry for helping recruiters grow their recruitment organisations, by making more money in less time and with less stress.
A tall order I know and it’s more than possible. At some point during our conversations the topic of marketing will get raised and exactly how it works when it comes to growing a recruitment company.
Let’s first step back and look at the key areas that will inform how marketing can work for you.
Go to any marketing school and they will tell you about the 4 P’s of marketing.
Before you leave this page thinking; “this is going to be as dull as dishwater!” hang fire because this is where many recruiters miss out. Why? Because they don’t look at the first two P’s which is where the battle is often won or lost. Let me explain how it works.
Pretty straight forward? Product, price, placement and promotion. Here is the thing. I have noticed that many recruiters don’t appreciate they are selling a ‘product’ and a damn good one at that.
The first P your product
Your product as a recruiting professional is your service. It’s all those activities that your client is likely blissfully unaware of that’s going on in the background. You know what I am talking about don’t you? Reviewing all the possible candidates, having endless conversations, reference checking, screening, liaising, influencing. To be blunt the amazing service/product you deliver that ensures they get a great candidate for their role.
Depending on the perceived value of the product (your recruiting service) the more people will pay.
We have talked about value in another post. This is where you marketing has to start.
What is the product you are delivering that you ‘sell’ to your candidates and clients versus what the charge will be to get hold of it ?
I am sure we have all experienced the lure of paying for a better service. A friend of mine went on a recent long haul trip. She decided that it wasn’t worth upgrading on the flight over.
Once she had experienced 24 hours plus sitting next to someone that didn’t have the same hygiene standards she did and behind another that just had to put their sit back, without warning dumping her G and T in her lap; suddenly business class seemed worth it.
This brings me to the next ‘marketing’ p……
The second P your pricing
Most recruiters I first meet don’t charge enough. To the point where they are literally working for the minimum wage. In case you have forgotten that is £6.70 an hour. You can work it out.
Any company no matter what they are selling needs to work out an appropriate fee structure based on the product/service they deliver. That includes factoring all your time with some profit. Then of course as recruiters there are those counter offers, candidate drop outs and clients that suddenly decide to recruit internally. You need to make some allowance for that in what you charge.
That is why 10 and 15% fees won’t make you rich overnight and in fact might not even help you pay all the bills.
These two P’s are your starting point.
- What is the ‘product’ you are selling?
- …..And what is the price?
Only then can you move onto the other aspects of marketing that we will cover next time.
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’