If you're still keeping track, it's the 9th month of 2020, which to many of us, feels more like the 19th. And as Pathmatics continues to bring you digital insights, one of the stories that stands out has been the job market. With unemployment reaching a record high in April at 14.7%, and many companies resorting to layoffs or furloughs, job websites had to adapt to a narrowing list of job openings.
Back on the Market
While some gains have been made, the economy has struggled in starts and stops, with hopes of bringing jobs back - one of the biggest indicators of a turn-around. And with a combined $37MM in digital spend since the beginning of the year, Monster, Indeed, ZipRecruiter, and LinkedIn have opted for their own individual strategies and creative messaging to woo the ever growing pool of applicants to their sites.
Analyzing each site's channel strategy since mid April (the heart of the economic shutdown), we see Zip Recruiter relied heavily on Facebook, with Indeed nearly identical on Desktop Video. However, both Monster and LinkedIn took a more varied approach, spreading across several channels like Desktop video, Desktop Display and a modest dose of Instagram.
But diving a little deeper, the numbers might be a bit deceiving. For instance, looking at Instagram, LinkedIn dominated with 75% spend volume vs. Monster, its closest competitor, at 20%. However, timing is everything, as we find the majority of that was spent through May, significantly declining in July. And with an initial look at trends though the beginning of September, ZipRecruiter appears to be ramping up its spend in the channel, poised to take over that poll position if it continues upward.
And what about creative messaging? Well, Monster has definitely made a splash, tailoring a new series of ads ad to the COVID-19 atmosphere, using a talking suitcase to wax poetic about business travel (see video above). Indeed has pivoted as well, releasing a campaign targeting those affected by the pandemic with the tagline, "The harder it is to find work, the harder we work to help."
But surprisingly, LinkedIn has kept more focus on their "Marketing with LinkedIn" ads, and ZipRecruiter hasn't changed messaging to relate to job seekers looking for security and understanding in the current atmosphere.
Only time will tell which strategy will work, but our assumption is, be it a talking suitcase, or a stale ad you saw waaaaaaay back in the 2nd month of 2020 (if your memory goes back that far), customers will be searching any site to get themselves back in the workforce.
After earning his BS in Communications, Matt cut his teeth in the entertainment industry, spending fifteen years writing everything from feature screenplays for A-List directors, to celebrity bios for some of Hollywood’s top actors. That creative drive made it an easy transition to Marketing, bringing his eye for storytelling to the digital advertising ecosystem.