Marketers’ spend on display advertising has been increasing year on year. In the UK alone, just under £8 billion will be spent on online or digital advertising by the end of 2015 - a growth of 9.5% from 2014. It is over double what advertisers spend on television adverts (£3.8bn), and three times what is spent in traditional print media (£2.5bn).
This upwards trend in spending is set to continue for the foreseeable future, and is being replicated across global markets; despite concerns over display advertisement’s poor performance and viewability. Google have recently released estimates that 56.1% of online display ad impressions are not seen by consumers.
And last year, a study in the US by the Association of National Advertisers (ANA) found that roughly 11% of display ads were never even seen by humans, just bot crawlers. The cost to advertisers of this fake traffic is estimated to be $6.3 billion worldwide by the end of 2015.
It follows, then, that advertisers are beginning to look for more strategic approaches to increase the effectiveness of their advertising spend.
And this effectiveness is what established brands’ publishing can potentially offer. Digital Context Next have found that, in comparison to the 11% bot traffic seen by most sites, content publishers have only 2.8% of their display ads seen by “sophisticated bots”.
But the question for sites like these remains: how best to monetise the attraction advertisers have to data and display advertising, without overcrowding visitors and turning them away?
Recruitment advertising has been an effective, and familiar, solution for many UK brands and publishers. In traditional media, recruitment had always been a proven revenue source; and it translates well into the online space. Digital job boards are easily monetised and have benefits for site users, employers and advertisers, as well as the publishers themselves.
Job seekers believe boards offered by established brands are more relevant; and feel they are more likely to find a compatible position than elsewhere. This makes a brands’ job board a valuable resource, as this relevancy helps continuously attract new users; increasing editorial visibility and site traffic.
Employers and recruiters are prepared to pay for the opportunity to advertise their vacancies to niche audiences.
Advertisers are offered high visitor and return rates, plus increasing site traffic. The unique value of these boards is the ability to collect more in-depth data on desired audiences, enabling marketers to deploy their budgets more efficiently.
Publishers are able to sell both the recruitment advertisements and the display space surrounding them, increasing advertising real estate.
Many brands and publishers in the UK and European markets have seen online recruitment become a multi-million dollar revenue stream. The US online recruitment industry is forecast to have a compound annual growth rate of 5.45% over the period 2012–2016, and has an estimated value for 2015 of around $19 billion.
But for a jobs board, the right platform is crucial; and it means that publishers must work with a technology provider who can implement a great experience for their users, allowing them to continue focussing on engagement, sales and marketing.
Madgex offers over 25 up-sells in their platform, which in turn offer advertisers innovative options to reach their audiences. It is technology which allows publishers to maximise revenue opportunities on their job board without sacrificing space or functionality.