Pay-Per-Resume Means New Revenue for Newspapers

March 27, 2008

Article by: RealMatch (The Job Network)

The Job Network is releasing a revolutionary Pay-Per-Resume option

The Job Network has added a new functionality that enables newspapers to offer performance-based online job posting and to generate new revenues from resume database access.

Resume database search represents a significant but untapped revenue potential for newspapers. Major job boards such as Monster and CareerBuilder are generating 30% of their revenues from resume database searches.

Resume database access
Uniquely resume database access is now available from The Job Network in a much simpler and more cost effective way than the traditional job boards. Here is how this works:

• Once the job is posted it is automatically matched with the candidate database. Qualified candidates are invited to apply.
• Resumes of applicants from The Job Network sites are forwarded to advertisers at no extra cost.
• The advertiser receives an e-mail reporting the number of matched candidates from the database that are showing in their online account but who have not yet applied to their job. All candidates are screened graded and ranked. The advertiser can preview the candidate profiles and decide whether to open their resume and view their contact information. The advertiser can then use the system to send individual candidates an invitation to apply to the job. Each resume opening is subject to a modest fee.

Performance-based job advertising

As the Internet advertising market evolves publishers are eager to provide and charge for premium services of real value to their advertisers. While in the old days Internet advertising was based on a fee per impression and later on a per click basis there is a growing trend today to charge a fee based on the actual value received by the advertiser. This is called performance-based (success-based) advertising.

Today’s traditional job boards are limited to charging a fee for the posting of an ad without any regards to the actual number of qualified applicants the ad generates.

In contrast The Job Network’s revolutionary Real-Time Job Matching™ technology enables newspapers to offer advertisers a new way to advertise their job openings which is significantly more attractive and competitive than what is currently offered by traditional job boards. Under this “pay-per-performance” option advertisers post their ads online for free and then pay only based on the number of resumes that are opened by the advertiser. Here is how this works:

• The advertiser posts an ad through the newspaper’s job site specifying their requirements (job skills experience salary etc) along with an unlimited number of specific-to-the-job qualifying questions.
• The posted job is then matched with The Job Network resume database and matching candidates are invited to apply. The job ad is also available for outright searching by candidates on The Job Network sites.
• The advertiser is notified when candidates have applied to their job and is invited to review their profile. The profile provides an accurate picture of the candidate experience and employment history as well as on how well he/she is suited for the job based on skills preferences and their answers to the qualifying questions.
• The advertiser can then decide which candidate resumes to open. A fee is paid only to open resumes view the full candidates’ details and to communicate with them..