Why can’t you cut back on your recruitment marketing during a recession?
Cutting back on marketing may seem like an excellent way to save money, which we all want to do, especially during uncertain times. However, if you’re considering cutting back on your marketing budget, take a minute to reflect first.
Marketing is an investment in the future of your business. Without a proper marketing plan, other assets like an Applicant Tracking System (ATS), LinkedIn, or sales training may not yield the desired results. To determine what works and what doesn’t for your business, you must measure the outcomes of your efforts.
Here are a few reasons why you should think twice before reducing your marketing budget:
- Keep your prospects at the forefront of your mind.
- You must maintain relationships with current clients to remain relevant in the marketplace.
- The level of competition is rising, so you must set yourself apart.
- Being less noticeable gives your rivals the upper hand.
- Marketing is a long-term strategy rather than a short-term investment.
When times are tough, it’s easy to feel you should cut back on spending. But what if you could speed up and improve the performance of your budget?
It’s time to reconsider how you divide your resources, especially given the impending recession. In these challenging economic times, you must be able to demonstrate that your recruitment marketing is having a positive impact on your company.
In a recession, recruitment agencies require effective marketing more than before.
We all know that the economy is in bad shape. There’s no denying that some of your clients are feeling the squeeze due to the downturn. However, if you’re feeling the pinch, so are your rivals. So, if you want to stay competitive and earn business during this economic downturn, you must take a more strategic approach.
How? By becoming more imaginative and original in how you sell yourself—and your services.
You should also consider cost-effectiveness, focusing your marketing efforts on specific businesses or areas where talent is still needed despite the economy’s current situation.
You can’t afford to stop using content marketing as a business owner; here’s why.
- It is a long-term approach that may assist you in establishing a strong brand image in your business.
- Content marketing enables you to engage with your target audience and establish yourself as an authority in your area or niche.
- It keeps your current contact communities interested and keeps you in their minds.
Job boards are no longer the only effective way to attract candidates.
Nobody is suggesting you shouldn’t post job openings. However, we are all aware that job boards only attract active candidates.
Typically, a solid indicator of coming economic uncertainty is the recruiting sector. There are several warning indications for recruiters that a recession is approaching.
Widespread hiring freezes are the main sign that something is going on. When sales decline, cost reductions become a top priority for businesses because they continuously monitor output. As a result, organisations frequently start by trying to reduce the number of employees they have.
Companies will likely agree to a recruiting freeze before starting a comprehensive organisational overhaul. Typically, this comes before layoffs, which can have an even more significant impact on the overall recruitment scene.
The early phases of a recession are, without a doubt, extremely difficult for recruiting companies since recruiters are suddenly overrun with candidates and have limited positions to place them.
However, job boards aren’t the only way to find people and fill skill gaps. If you want to increase the visibility of your employment, you should consider alternative, extra, and complementary marketing methods.
It’s time to use your social media networks to reach out to your target audience.
Social networking is an excellent platform for connecting with top talent and potential clients. But how can you capitalise on this opportunity?
- Be clear about your goals and who you want to reach.
- Create an editorial schedule for your blog and social networks.
- Engage with material shared by influencers in your industry.
- Engage with postings from potential customers.
- Make yourself known in industry-specific groups to which possible applicants belong.
- Measure your outcomes and keep track of what works and what doesn’t.
Connecting with top talent directly delivers more significant value than seeking volume recruiting.
Rather than discontinuing all recruitment marketing, you could be more selective. It’s widely assumed that the greatest applicants aren’t actively seeking work. So, if your top applicants aren’t responding to job boards or other forms of advertising and if they’re not following you on social media. What are your options?
- First, conduct research to determine where they go for information.
- Then consider an issue that you can solve for them.
- Give them the answer where they are seeking it.
- Following up.
You do not require a large budget.
Of course, your definition of a budget is subjective. And will be heavily influenced by your typical placement charge and your return on investment.
Most businesses are aware that content marketing is costly. However, it is a low-cost strategy to contact your target demographic, display credibility, and, most importantly, bring in new business.
Prioritisation is the key to making the most of your time (another investment) and money.
It is critical for recruitment businesses to maximise their digital marketing efforts.
What happens when you create a great guest post for a tremendously successful industry publication? Should you write another one? Sure, you could. However, if a piece of content produces results, you can do much more with it. As an example:
- You may include it in your email or use it for social media posts.
- You may create a video with a talking head.
- You may create an infographic that you can bundle with additional information on the same or comparable themes.
And so on and so on…
Conclusion
If you’re considering reducing your marketing budget, you should reconsider. An economic slump suggests that businesses cannot afford to be silent. But your company requires effective marketing now, more than ever.
Find our previous blog here.