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Panpa Bulletin : February 2007
PANPA Bulletin February 2007 INTERACTIVE INSIDER 29 The Monster.com newspaper clas- sifeds? Yup, it’s true. Likewise, it’s true about Yahoo HotJobs classifeds. Following the lead of Tribune and Knight Ridder, which began branding their news- paper recruitment classifeds sections as CareerBuilder way back in September 2001, Monster and Yahoo have gotten into the act. Yahoo HotJobs has signed hundreds of newspaper alliances during the past few months; Monster.com is in the dozens. Hundreds more are likely in 2007. Clearly, newspaper recruitment adver- tising is changing. Branding and critical mass have been important for a while, but they’re becoming more important than ever. To recap briefy, in case you missed the announcements: Eight newspaper compa- nies in the US (at this writing) have signed agreements with Yahoo for wide-ranging relationships including a branding and technology relationship with HotJobs. While most of the potential benefts are still in the “to be determined” category, all of the newspapers will brand their online recruitment sites – and perhaps their print recruitment sections – with the Yahoo Hot- Jobs name. Yahoo will add listings from HotJobs to the newspapers’ sites, and vice versa; both sides may upsell into the others’ products. (However, don’t hold your breath waiting for HotJobs sales reps to ask their advertis- ers, “Would you like us to run your ad in the local newspaper as well?”) Monster, meantime, has also been forming relationships with newspapers, starting with the Philadelphia Inquirer and incorporating the Freedom newspapers, among others. (It also signed with the eight Freedom television stations – more evi- dence that broadcasters are muscling in on classifeds.) The changes show branding is gaining importance as newspapers try to hang onto recruitment advertising, both in print and online. Print recruitment ads in the US still generated about US$4.5 billion in rev- enue in 2006, which is almost twice as much revenue as online recruitment advertising. (We dispute reports to the contrary as the research methodology is murky and highly suspect.) Nonetheless the growth in online is fast, while print recruitment revenue is sinking like a stone at major dailies and tapering off slowly or steadily at most small and mid-size dailies. But what about “branding” with your own newspaper’s brand? Certainly The New York Times and The Washington Post have done so successfully, while the Boston Globe and its BostonWorks brand has de- veloped a strong presence in its area. Will that work for small newspapers which don’t have major external competition? One element of branding is name rec- ognition, and if you hope to gain name recognition you have to realise “promot- ing in the paper” isn’t enough. In fact, to a recruiter who sees a Monster commercial on television, hears an ad for the local Re- gionalHelpWanted.com site on the radio, and watches CareerBuilder’s monkey ads on the Super Bowl, in-paper promotion pales. In-paper promotion is “preaching to the choir” and the choir is shrinking in most markets. Beyond branding, critical mass and multiple products are two more crucial ele- ments of a recruitment advertising business. If there are too few jobs in a newspaper or on a local paper’s website, the business quickly loses the element of “marketplace” and people go elsewhere. So if Monster, CareerBuilder and/or Yahoo HotJobs have more jobs in your area than you do, it’s time for an immediate strategy check and an immediate tactical push to improve your standing. Multiple products? It’s no longer enough to offer just “the newspaper and our website” for recruitment ads. Perhaps a stand-alone Spanish-language publica- tion would be valuable in your market. Or job-seeker kiosks, or video clips or a daily or weekly broadcast or cable TV recruitment program. Or a direct-mail program. And certainly, participation in a national net- work is a must – whether it’s CareerBuilder’s, Monster’s, HotJobs’, or Adicio’s private-la- beled network. Recruiters are increasingly fnding alter- natives to the daily and weekend papers for reaching potential candidates for the positions they have to fll. Here’s a bet we’ll make for 2007: If your recruitment advertis- ing products look exactly the same at the end of the year as they did at the begin- ning of the year, you’ll be well on your way to getting out of the recruitment advertising business. Make sure you’re offering the latest, most innovative, effective recruitment options in your market – or risk losing that business entirely. Peter M. Zollman is founding principal of Classifed Intelligence and the Advanced Interactive Media Group, consulting groups that work with media companies to de- velop proftable interactive media services. Email email@example.com or telephone +1 407 788 2780. The changing scene in newspaper recruitment advertising Many newspapers will have to change their print and online strategies if they want to hang onto their recruitment advertising, says PETER ZOLLMAN. Nonetheless the growth in online is fast while print recruitment revenue is sinking like a stone at major dailies and tapering off slowly or steadily at most small- and mid-size dailies. The changes show branding is gaining importance as newspapers try to hang onto recruitment advertising ...
November December 2006