Our every behavior has been reshaped by technology: how we travel, how we shop, and of course, how we search for jobs. With this move to web and mobile, we have also gained unprecedented access to data on what those behaviors look like — data that deliver insight into when and where to reach people.
On Indeed, people search for jobs throughout the day and search more on certain days of the week. For desktop searches, traffic peaks at the beginning of the week and gradually tapers off as the weekend approaches. On mobile, search is more steady, since people always have their phones with them. These fluctuations in traffic mean there are some days and times when your recruitment dollars can go further.
We want to help you allocate your budgets to navigate these kinds of shifts in job seeker behavior. Bid Optimizer is a free tool from Indeed that enables employers to set their recruitment spend at the optimal level. It identifies the right amount of spend based on traffic patterns, meaning you’ll get better results with Bid Optimizer than by manually managing your Indeed budget.
How Bid Optimizer works
Bid Optimizer works by setting daily spend targets and adjusting your cost per click (the amount you want to spend for each job seeker click) up to three times per day. This frequent adjustment helps you develop an ideal spending pattern. Bid Optimizer bases your bid on the number of jobs you’re sponsoring, your monthly budget and the number of days left in the month. This enables you to spend the precise amount needed to attract the desired number of candidates.
Bid Optimizer is available for any Sponsored Job on Indeed. You can choose to budget monthly or for the specific number of days you’d like your job posted. A feature called Click Balancing ensures that jobs don’t receive too many clicks or take up more advertising budget than required. This lets employers spend more budget on hard-to-fill roles, such as high-skill or senior-level jobs.
Automating your bid level with Bid Optimizer gives you the best return on your recruiting budget and frees up your time to focus on other recruitment activity. Most importantly, you’ll be able to get more precise about how you recruit — focusing on the hiring channels that bring in great candidates and making data driven decisions about what’s right for your organization.
To learn more about how Bid Optimizer can maximize your recruiting budget, contact us.