17
Driving Revenue Through Contracts
Driving Revenue Through Contracts
CB Network as Percentage of Total Careers Category Traffic
21%
36%
41%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
2003 2004 2005
Source: comScore Media Metrix, Career Services & Development Category
Monster – 29% Monster – 25%
2006
35%
8%
25%32%
Revenue Share Analysis
2003 2004 2005 2006CB 160.2 282.7 482.8 730.0Monster* 350.8 457.4 586.4 695.0HotJobs* 99.2 122.4 146.9 170.8Other* 321.4 395.5 463.5 543.1
* Per Morgan Stanley Publishing Handbook October 2005
4
2003
17%11%
34%38%
2004
22%10%
31%37%
What is transactional business?
1, 3, 5, 10, 25 job packs ordered through Nexus.
Resume Database ordered through Nexus
Annual Contracts – Switching Your Focus
We have to thinking about our client’s long-term needs…not just what they need for this weekend
– This is HOW customers want to buy– This is HOW our competitors sell – We are losing clients to the competition everyday
because we aren’t selling the way people want to buy
Selling Annual Contracts– What is in it for them?– What is in it for you?
Why Annual Contracts for Reps?Why Annual Contracts for Reps?
Why annual contracts are better for reps– Able to establish strong relationships = true consultant
Selling the way the customers want to buy Easier to get them on a print contract
– Easier to sell optimal value Larger Deals/ More Revenue
– Up-sell opportunities – Getting more of their budget = less for our competitors– Consistent Revenue Stream– MORE ROI for your customer– Your online “bucket” for this account is full
for the year!
Keep the deals coming!
All new deals over $10,000 will receive double the payoutTo count: Renewals must be 15% higher or extension of term, w/start date in q4
1st deal = $100
2nd deal = $125
3rd deal = $150
4th deal = $175
5th + deals = $200
Incentive for closing online subscription dealsIn 4th Quarter of 2006
Minimum new deal size to qualify: $ 5000 TCV and 6 month term w/start date in q4
Hartford Courant q4 Contest
$150.00 to the rep that sells the most jobs under a Service Agreement in q4
(Flex packs or Subscriptions)
Why Annual Contracts for Why Annual Contracts for Customers?Customers?
Why annual contracts are better for customers – Fulfills long-term needs – Makes “CB” more sticky
Less competitive noise (locked in for a year) Gives CB time to show value of our TOTAL solution More ROI for the customer
– Can allocate spend for the year
Least compelling reason = cost savingsSTOP selling on price!
Where are open jobs found today?
Only 7% of all open positions are in the newspaper.
How and where are the other 93% of the positions being filled?
How can we get some of this business?
What is a good prospect?
Customer currently purchases multiple 7/30 day postings a month/year (26 jobs minimum)
They have multiple jobs on their corporate site
They use other web-sites other than CB
Research
Now that you have found a good prospect…
Look at their corporate site Check Monster, Hot Jobs, CB, Wanted
etc. “Fast Facts” for their jobs Industry specific sites
Checklist For Optimal Account Value: Checklist For Optimal Account Value:
General InformationGeneral Information
CEO initiatives we can impact and how they are performing YTD Average cost per hire Jobs on website, other niche sites Jobs on HJ or Monster Cost of primary recruiting tools Time per hire Cost per hire # of Hires per year Hires on average per month # of Employees Industry Turnover Traditional means of recruiting New products, acquisitions, growth Other factors Soft Costs
Added Functionality Included in an Annual Contract
“ New and Improved” Resume Database with Search Agents
Auto Response Letters Screeners Candidate Management (folders, flags
notes and filters)
