So, you are a leader in staffing. You just kicked your marketing consultant out of the room along with his 5 spreadsheets and 11 marketing strategy frameworks. You still need to figure out how much to spend on marketing though, and where to put your money for best ROI. The truth is, you know your business well enough to get a ballpark answer to this question with just a few simple steps.
First, start by deciding where to focus your marketing:
- Should you market to clients to get more job requisitions or to consultants to get a better database?
- If you market to clients, do you go after existing clients or do you pursue new clients?
- If you market to consultants, do you focus on your existing database to keep it warm or do you market to new consultants?
Three simple questions can help you determine this:
- If I doubled my open requisitions, would I double my business? Is my database good enough to fill them quickly?
- If I doubled my candidate database, would I double my business? Do I have enough open job requisitions to fill?
- How realistic is it for me to do either?
Your honest answer to the third question is most important. Of course, you can get more business if you had more clients or a bigger database… But how much time and effort would it take to make a meaningful change in either?
Tune in next week, when I will discuss how to dig deeper and dissect your business so we can answer this question.
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