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JobMonkey: the Interview
Head over to my RecTech Media site to hear my latest podcast with job board founder Matt Lucas of JobMonkey.com. Its a great conversation and you will definitely learn a few things from this job board veteran.
I bet every job board wishes they had a rap video like this
WayUp, the job board for college students, got some students at NJIT to record a rap video touting their site. Excellent piece of Guerilla marketing that I had to share.
Thoughts on Content Marketing
At a recent conference I was speaking to one job startup founder about content marketing. He was lamenting on his marketing challenges and asked me for some advice. “Are you doing any content marketing?” I asked. “Some“, he said. “Buts its very time consuming and I’m not very good at it“.
Yes thats right. There are no shortcuts in content marketing. It takes effort and time. But it’s a necessity in today’s marketing landscape. Get used to it!
I see a lot of job boards and other HR tech startups struggle with content marketing. The best ones treat their blogs as news outlets that help educate their audience (both job seeker and employer). Ironically SimplyHired has a great blog which I have always pointed to as a good example.
Other companies that do a good job with content marketing are SmartRecruiters, Job Monkey and Lever. Lever even courts guest posts from recruiting luminaries such as Lou Adler. Experts like that bring traffic. You would do well to follow these examples.
Most good blogs publish every day. They educate their readers and add value. If your job board or other startup can’t, or are unwilling, to engage a similar strategy then you are only hurting yourself.
It’s time you got serious about content. To sell online today means writing and sharing relevant content. If you can’t write yourself, hire a recruiter or career coach who likes to write. Yes it costs money, yes it takes time. But it works.
This Growth Hack Will Guarantee Your Job Board Free Traffic (member only)
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SimplyHired Shutting Down its Partner Program for Job Boards
In case you haven’t heard SimplyHired is shutting down. Their partner program called “Simply-Partner” is also going away and thus ending one of the last viable options to operate a free hosted job board solution. They made the announcement last Friday. Last day of operations will be June 26th.
Any sites using SimplyHired’s API for backfill or hosted job board platform will be FORCED to change providers. Unfortunately this is going to cost you time and/or money since they had the last viable free platform on the market other than RealMatch.
Your most immediate option would be to buy a WordPress job board plugin and host your own job board. I can help you set that up if you are willing to pay me. I can get you up and running for about $600. Or you can try my Jobboard.io concierge service if you have a bigger budget.
I just heard of a new new free platform that is being built but FreeJobBoardSoftware.com is not ready at this time though you can sign up for launch on their homepage.
Below is the text of the SH email I received last week;
Your company and Simply Hired are currently parties to the Simply Hired Partner Terms of Service (“Agreement”), under which Simply Hired is providing job content and related services to your company.
Simply Hired hereby notifies your company that it is terminating the Agreement effective in 30 days, on June 26th, 2016. We are terminating the Agreement because we are suspending our Partnership Program for all publishers.
There will be no interruption in services between now and June 26th. All payments will be processed and paid under the terms of the Agreement.
Please refer to the FAQ below for additional details. Our partnership team can assist with any needs you may have with respect to this transition process.
Please feel free to reach out to us if you have any other questions.
The Simply Hired Partner Team
CONFIDENTIAL: SIMPLY HIRED PARTNER FAQ
The business of Simply Hired will cease operations as of June 26, 2016. Accordingly, we will be winding down our Partnership Program and all related platform services prior to this date.
We will be winding down all partner services by June 26th, 2016 (“Service Discontinuation Date”). This includes hosted Job Sites, Job Widgets, API and data feed accounts. Please make arrangements to transition all Simply Hired services prior to this date at which point all services will no longer be available. This includes all functionality- hosted Job Site URLs, Widgets, API, Account and Reporting services will be deactivated.
Job Listing Sales (For Hosted Job Site Partners Only)
The following pertains to our optional Job Listing Sales features offered with our hosted Job Sites only. All Job Sales capabilities will be available through the Service Discontinuation Date, however, it is important to understand how best to handle transitioning these capabilities with respect to active advertisers.
Active Job Listings will run through the Service Discontinuation Date unless you advise us to disable this specific functionality, or all your Job Site functionality, before that time. Typically these are sold on a 30-day basis. Any advertiser with partially delivered listings (i.e. less than 30 days or applicable duration sold) will be issued a refund. Please note that Simply Post upsells will run until the Service Discontinuation Date (on www.SimplyHired.com) irrespective of the status of your Job Site, but will be subject to automatic proration and refunding per the policy below.
If we disable this functionality for you, or when you turn off your JobSite entirely, all active job posting products will be canceled in accordance with our Terms and Conditions.
The refund shall be calculated as the total number of days remaining in the Job Listing divided by thirty (30) and multiplied by the fee paid for the Job Listing and shall be paid to the advertiser within thirty (30) days of cancellation via the credit card account used for purchase. and your advertisers will be unable to access their account settings and dashboard.
Should you wish to transition your advertisers to a new platform, our Partner Support Team can assist you with downloading your data. Please keep in mind that your advertisers will not be able to access your account settings once this functionality is disabled. As a reminder, all communication regarding the discontinuation or modifications of these services to your customers is your responsibility. We will not communicate directly with your customers with respect to any information contained here.
Please let our Partner Operations Team know of your plans as soon as possible, and ideally no later than Tuesday, May 31, 2016, by sending us an email to firstname.lastname@example.org.
Your final partner payment will reflect these adjustments.
If you wish to download any reporting or account information prior to service disconnection, please do so no later than the Service Discontinuation Date.
Final Payments & Tax Forms
We anticipate making all final payments within 30 days of the Service Discontinuation Date orJune 26, 2016. This includes all unpaid earnings generated up to the Service Discontinuation Date. Your current payment method (i.e. check, wire or PayPal) will be used.
All year end tax reporting forms will be provided on a timely basis.
Other Questions/ Assistance
Should you require any additional assistance up until the Service Discontinuation Date please send an email outlining your question or request to email@example.com prior to the Service Discontinuation Date we will respond as promptly as possible. After the Service Discontinuation Date please contact firstname.lastname@example.org
Finally, we’d like to sincerely thank you for your partnership and support during the last 10+ years. We will miss working with all of you.
The Simply Hired Partnership Team
Indeed’s Value Gives Clue to Job Board Valuations
A few years back Indeed.com was bought by a Japanese firm Recruit Co. for a reported billion dollars. I’m not sure anyone ever pinged the exact number at the time but this blog post from one of their investors, Fred Wilson, says it was $1.4 billion to be exact.
My favorite example of this is Indeed where USV had to beg the founders to let us invest, only did one round of venture capital, and exited for $1.4bn and is likely worth 2-3x that number as the business has scaled massively post exit.
-Fred Wilson, AVC.com
One of the more common questions I get is ‘how much is my job board worth?’ To answer that question I usually say it depends on a number of factors including the sales history, type of niche and a host of other factors. For the most part, job boards are internet businesses and those that I have seen sold generally return 1x-4x (multiple of revenue).
Recently, Recruit reported Indeed.com net sales jumped 60% to $696 million in the fiscal year. The company also owns job boards in Japan, including Rikunabi, a job board for new graduates.
So even large business like Indeed have a valuation of just a few X times revenue. These numbers should help you realistically value your own site when it comes to selling. Remember the potential buyer has to get their money back and wants that to happen QUICKLY. For the most part, buyers can only stomach waiting 2-3 years.
Ebook: How to Select, Setup and Launch Your Job Board
My latest ebook is specifically for newbies. If you have never worked on a job board before you need to read this first before you do anything.
This 20 page ebook which I have been writing for the past few weeks is a primer for getting started in the job board industry. You can read an excerpt below but here’s what you will learn if you buy this $25 ebook.
- What your goals should in terms of traffic.
- How much you can expect to spend on software, etc.
- How to pick the right Niche/industry
- How to name your site properly
- The different types of job boards
- My recommended software platforms to get started
- Different revenue streams to try
- How to price your job board
- Working with aggregators
- Setting up your social media
- And much more…
So you want to start a job board? Congrats. Job boards can be a great online business for many people. But before undertaking this project it’s important to ask yourself a few questions.
- Will this be a side business or full time one?
- What are your goals for the site?
- Have you picked the right niche?
- Are you ready to hustle?
- Are you in it for the long term?
Starting a job board today from scratch is easy to do, however making it successful is the hard part. There are a number of cheap online tools to get off the ground. But your biggest challenge will be to convince employers to pay to use it.
To do that you need to have a good looking site, be in the right niche, have an affordable product and be able to attract enough job seekers to the jobs so that employers comes back to post again.
Any online business takes time to grow so set your expectations early on. In the short term, it probably won’t make much money but it will suck up a lot of your time. Be prepared for the long haul. In my experience it takes at least a year for a job site to get enough traction in the market they are aiming for. Don’t give up too soon.
Today’s new job boards need to be more than just jobs in my point of view. They need to also offer resources and/or community. Consider a site like ProBlogger. Author Darren Rowse started a blog about blogging several years ago and eventually added a job board to the mix.
By first building up an audience through content creation, Darren’s job board became a natural evolution of the business. Now it brings in a significant revenue stream for him.
A site like MyCNAJobs.com added resources to their board like a listing of local classes to take to get certified as nursing assistants. They also started a scholarship fund to help candidates get schooling. They offered more than just jobs and today they are a thriving business.
Side Business or Full-time?
A lot of job boards these days are side businesses founded by solo entrepreneurs. A side business is the best way to get your feet wet and get started in this industry while minimizing the risk. It’s how I got started back in 1999. I ran AllCountyJobs.com for two years until I got laid off in the “dot bomb” era.
Buy the Ebook here. Anyone wishing to hire me for an hourly consulting call may deduct the cost of the Ebook from my hourly fee.
Q&A with the Recruitment Queen and Her Local Job Board
From time to time I like to highlight job boards that are doing things right. RecruitmentQueen.com, run by Jennifer Schultz, is a local job board serving Bucks County Pennsylvannia. I recently asked her a few questions over email about her background and how she got started. Her board is powered by Jobboard.io. RQ is a great example of a newer site that has gained traction despite being only two years old.
Why did you start RecruitmentQueen?
I started RecruitmentQueen in an effort to help people who needed jobs in my own backyard. Every day I would hear story after story of friends, family and neighbors who were out of work and struggling. They spoke often of feeling lost – day after day applying to jobs and never hearing back. I wanted to stop that cycle and create a local job resource that answered the need of people in my community – one that offered a personal touch, and understanding of their situation and maybe even some hope that their quest to find a job would be shorter, with our help.
What is your background?
I grew up in the newspaper industry – 15 years developing the Recruitment Advertising division of three well-known Philadelphia regional newspapers as well as represented us in the Yahoo Consortium, Monster, and AfterCollege partnerships. I created strong relationships with employers by being their partner in solving their problems rather than just focusing on selling them advertising.
When did you launch? Tell Us about your team?
We launched in January 0f 2014 and we were lucky that I already had great relationships with several local employers that were willing to give our platform a shot. My teenage daughter, 17 at the time, was my only other employee. Since then we have some contract employees working with us on special projects. We are looking forward to adding an intern and sales rep this summer.
Do you work on it full time or part-time?
I work full time – all the time, and then some. With our company size, we really do it all ourselves: sales, marketing, events, accounting, and stuffing envelopes – you name it. But, it is nice to be able to have the flexibility to work part time on certain days if we need to.
How do you make money?
Our revenue comes from various products: (95% employer based):
- Employers – job postings, social media campaigns, job fairs, print ads, and digital banners
- Job Seekers- resume writing, job coaching, LinkedIn Profile building
You leverage social media a lot for content. How has it helped you grow your business?
Social media has been an integral part of growing our brand, driving awareness for jobs and employers, alerting job seekers to job fairs we are hosting and employers discovering us in a non-work related atmosphere.
We are careful to keep our sales strategy to a minimum on social media – we have created a mix of part education/part emotional connection with our audience while mixing in excitement. And a huge effort to keep talking with our audience instead of at them.
In addition, there are some complimentary content pieces we do for employers both editorially and video to drive interest in their organizations.
What do you know now about running a job board that you wish you knew about when you started?
I wish I could tell myself before I started – that the traffic to the job board was not going to flow in as fast as I wanted it to. That it takes time to build job seeker traffic and not to get discouraged.
Do you have aspirations beyond Bucks County?
While our focus and brand is being built for Bucks County, we are already helping employers and job seekers in the surrounding counties that are a commutable distance like Montgomery, Philadelphia, and Mercer and Burlington in NJ. We have already been asked a few times if we are going to franchise our brand – so that has been an exciting thought.
Hey Job Boards, Post Your Discounts on the ‘Groupon for Recruiters’
If you are a job board, event organizer or HR tech vendor there’s a new way for you to get more sales. At RecruiterDiscounts.com you can list a coupon code or special offer and have it sent to recruiters and HR professionals. The site is launching this week to 10,000 recruiters so get your deals listed now. It’s totally free.
The site is a marketplace for job boards, ATS vendors, HR events, Assessment tools, background check providers, onboarding tools, sourcing tools, social media tools and more. Each vendor can list multiple discounts, upload screenshots and link back to their product pages for free. Featured listings are available as an addition upsell.
I created this service after hearing from vendors that they wanted more leads. What better way to help them than with a free service that connects them to recruiters who want to save money.
All discounts will be distributed on Facebook, Twitter and Linkedin through the sites channels. Recruiters and HR pros can sign up for the daily deals email which will be distributed each morning with the previous day discounts.
Need a jobs related domain? Click here
QUICK TIP: Sometimes the domain you want for your new job board is taken. In that case it may be better to see if its for sale on sites like SEDO.
SEDO is a domain marketplace that has over 69k job related domains for sale right now. Most are available for a few hundred to a few thousand dollars. I’ve bought a few domains here over the years so its worth a look if you are looking for a short domain with your keyword of choice.