Madgex releases the first industry benchmarks for job board e-commerce sites

 

 
Madgex, the market-leading job board software provider, prides itself on unlocking the value of its customers’ professional audience. Last year, they compiled a Job Board Benchmarking Report that focused on jobseeker user engagement. This year, given that they’d seen a steady rise in self-service transactions over the last few years (and witnessed an increase in job board self-service revenue of 2% in 2017), Madgex felt it was time to produce the first, comprehensive industry benchmarks for job board e-commerce sites

Madgex has access to the analytics of over 500 brands – and their research team spent many weeks examining the anonymized data from each, as well as hundreds more job boards' e-commerce sites across the globe, to compile a definitive database from which they could compare and contrast.

The E-commerce Benchmarking Report is the resulting document. Amongst other topics, it explores product purchase behaviour, traffic analytics, behaviour and engagement and audience demographics.

As a taster, they’re sharing some highlights. They start with New Vs Returning Users. Consistently, each month across the 12-month period, on average, Madgex saw that 21% of all users are new and 79% are returning.

Their advice is that it’s important to think about the value of both new and returning visitors. For new users, first impressions count so make sure your e-commerce site is visually appealing. As such, you need to sell the value proposition clearly and provide guidance for first time users. Returning visitors should know their way around so perhaps think about how to keep the site fresh (using live chat, product of the month, discount codes and seasonal promotions are just a few examples).

As far as products on offer go, within Madgex’s dataset some e-commerce sites had over 30 products on offer whilst some smaller, more niche sites have just 3. The point that they make with this is that having more products on offer doesn’t necessarily mean more products purchases and more revenue. In fact, it can be very confusing. They argue that having fewer, clearly promoted and relevant products could be more engaging and increase conversion.

They also are happy to share some advance information around employer profiles. The percentage of employers who sign up and complete their data profile is 15% in North America and 13% in the Rest of World. Madgex believe it’s increasingly important to include information about employers on your job board, as their research shows that 50% of jobseekers are using job boards as a research tool to gather information about jobs and potential new employers.

They go on to say that providing employer branding opportunities and quality content will result in deeper engagement with jobseekers, greater loyalty and an increase in applications. And that an e-commerce site can be an important revenue stream for your job board business. It also suggests that the upward trend for credit card revenue means it’s a good time to look at your self-service strategy.

All in all, there’s plenty of food for thought. However, if you want to know more you’ll have to check it out yourself.

Wednesday, 25 April 2018

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