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What Should My Sponsorship Budget Be?

by | Dec 29, 2021 | Hiring Tips | 0 comments

By Kellie Lail

In the current market, competition is crucial.With so many people looking to add staff, the number of jobs showing in candidate’s search results can be overwhelming. This is where sponsoring your job ad can come in handy. When it comes to setting your budget, the answer is simple: the more you’re willing to pay to market your ad, the more likely you are to see more candidates applying.

Sponsored listings can get up to 5x as many clicks compared to job ads that are posted organically, or for free, on the boards. Sponsorship does not guarantee a hire, but according to Indeed, people who sponsor their job ads are 4.5x more likely to make a hire.

Many agents find success when they sponsor their job ads that are competitive for their market. This means offering the best salary, competitive benefits, and remote options or flexibility. According to Indeed, search results consist of both free and sponsored job listings, but as new jobs are added, free postings fall back in search results while sponsored jobs remain prominently displayed in relevant search results. Thousands of new jobs are posted to Indeed every day, but sponsoring the ad can help it remain in search results longer and can help boost your ad’s visibility in relevant searches. The most common question that agents ask when setting up their sponsorship is “What should my budget be?”

The best way to determine how much to include in your budget is by doing a quick search for your job title in your zip code. The more ads that pop up in your search results, means the more likely it is that other people are sponsoring as well. The more people that are sponsoring their ads to appear at the top of those search results, the more you’re going to have to include in your budget. Where a $200 budget might be sufficient in a rural town without much competition, a larger city like New York or Los Angeles might require a monthly budget of $2000 or more to get you the best results.

Your budget is spent as people interact with your job ad either by clicking into it or by applying. The cool thing about Indeed sponsorship is that you can update your budget or end the sponsorship at any time. Your set budget will be spread out over the length of time you choose to sponsor (15 or 30 days) to come up with an average daily budget. For example, if you set a $300 budget for 30 days, Indeed will sponsor the ad for an average of $10 a day. Indeed will never charge you for more than your set budget within the time frame of your sponsorship. If you decide to set a $1500 budget for 30 days and find your perfect applicant within the first week, all you have to do is Archive your job ad in IdealTraits and the campaign will be ended. This means that at the end of the month, you’ll only be charged for whatever portion of your set budget you actually spent on clicks and applies between when you set the budget and removed the ad from the boards.

You want to make sure that your ad is as competitive as you can make it in terms of salary, benefits, and remote options, but adding a sponsorship budget to a competitive ad can sometimes add the boost that you need to make your ad even more successful. The more you are willing to market your ad, the better chance you have of stumbling into the search results of your Ideal candidate!

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