At the top of every association’s priority list is growing non-dues revenue and driving more member engagement. Many organizations turn to their successful career centers as a potential resource, but to make the most of that potential, you have to know how job boards make money.
The constant evolution of career centers has made them the go-to destination for all career development opportunities for association members. Not only that, but career centers generate non-dues revenue from industry employers who pay to post jobs to access your highly valued members.
But today there are more opportunities to bring in revenue off your career center as well. You need a competitive advantage over other sites like Google, Glass Door, ZipRecruiter, and LinkedIn to maximize your revenue from employers who use your association to access talent.
So, where do you begin?
First, with dedicated job board marketing strategies that focus on driving engagement, traffic, brand awareness, and revenue through marketing and lead generation efforts. Ensure your job board is successful by providing strategic and effective marketing strategies to drive job seekers and employers’ paid jobs to your job board. Your marketing should strive to answer the questions:
- What exactly are we trying to achieve?
- What is the impact?
You also want to have a strategy in place to prospect and acquire brand new employers with marketing campaigns to provide broader coverage, create leads for sales as well as drive e-commerce sales.
Next step, look for a job board provider with a Sales team that will offer you the ability to:
Save Money: Associations typically cannot financially support having a dedicated sales staff solely for their job board
Save Time: Many employers need packages to be built based on their needs which requires manual work
Expand Market Reach: Niche career centers typically have very low market share – between 0-10% of the newly open industry jobs – so a dedicated team is necessary to prospect and bring in the other 90%
Reach Employers: Associations don’t typically have a way to identify and contact employers that need their members to fill roles
Leverage Agencies: Build relationships with large recruitment agencies
Revenue Benefits From a Dedicated Job Board
As stated above, the non-dues income generated by your association’s dedicated job board injects additional cash into your operations. However, it’s not just your organization that profits from the venture — employers you attract stand to benefit from a healthier bottom line too.
The average corporation typically receives hundreds of resumes for a single posting. Sorting through them to identify the strongest candidates takes time. When they have a smaller (and prequalified) talent pool of your members, they’ve already narrowed the applicants to a much more manageable number. The extra time savings allows them to focus on more productive tasks that directly impact income instead.
Job Board Revenue Models
Traditionally, the job board revenue model centered primarily around employer fees and the sale of advertising space. Google AdSense and banner ads are still viable ways for many associations to generate passive income as long as you’re careful with the amount of advertising you use. Too little, and you won’t monetize a lot, while too much looks “spammy” and may cause users to bounce.
Today, combining advertising with revenue from both employees and employers creates a more balanced and effective approach.
Revenue From Employees
Job seekers outside of your association’s discipline may visit your website. Perhaps they’re looking for a career change or an opportunity to enter another industry, and they aren’t yet part of your membership pool. Since you provide free access to members as a value-added service, you must find a way to engage these non-members and produce revenue simultaneously.
Consider offering free trial access that allows them to view a limited number of jobs or provides a definitive period of access. Use your existing marketing channels to convert non-members as usual. You might also consider charging a fee for uploading their credentials and resume as a proactive job search method or offering the visitor an introductory membership price for full access to the job board.
If your association already employs someone with the right skill set, offering paid writing help for resumes, CVs, and cover letters can generate revenue as well.
Revenue From Employers
Typically, employers pay for job board services either per job post or with a monthly subscription for unlimited posts. However, there are also other methods for monetizing these employers.
You might keep qualified job seeker resumes and credentials behind a paywall or charge a post upgrade fee to sponsor the employer’s ad as featured. Consider charging upgrade fees to add logos or imagery to job postings to distinguish them from their hiring competition. Some platforms even offer video interview or screening integration as another revenue-generation method. Remind your most loyal employers about sponsorship opportunities in your blogs or newsletters, where you can spotlight them as a preferred employer (for a fee).
Integrating skills assessment tests into your job board offers another possibility to upsell employers if you charge a small fee for their administration or to obtain results. Since this offering contributes to an effective screening process, many employers use those short quizzes to vet candidates.
Partner With a Job Board Provider That Delivers More
Surprise! YM Careers by Community Brands has both: an aligned powerhouse of job board marketing and recruitment advertising sales.
Our Customer Marketing team ensures your job board has maximum exposure and generates demand for your career center for both job seeker and employer audiences through email, advertising, and digital campaigns to drive traffic and increase job postings on your site.
Our Recruitment Advertising Sales team is the largest niche job board sales team that works with employers to understand their recruiting needs and identify the best opportunities to help them achieve their hiring objectives.
Together, these teams strategically work to achieve career center success for you. By selling the value of your association, rolling out a product suite that solves employer challenges, and capturing as much revenue as possible, our teams are able to help you accomplish your goals, generate non-dues revenue, and increase engagement and traffic to your site.
Learn more about how the YM Careers Sales and Marketing teams help your association. Request more info.