Marketing is never an open-ended endeavor, but how do you determine marketing success? The truth is that success can only be determined by each individual fleet. For some, it could be to fill one or two trucks that have been sitting idle for some time. Others might have an immediate need, but filling those trucks is only part of a larger yearlong objective to grow the fleet.
Goals and objectives should be defined with each marketing campaign and strategy. The good news for today’s fleets is that marketing platforms make the process of determining success(however you may define it) easy with ample data sets that can be sliced and diced a million different ways.
Because the data is so readily available, regardless of fleet size, it levels the playing field and can make every advertising dollar spent that much more impactful.
Data’s Role in Marketing
Marketing budgets aside, the fact is that when you spend marketing dollars you expect results. Again, success can come in many different forms, but it all boils down to being able to measure that success. Fleets looking to capitalize only need to look a little deeper than the number of hires in the previous month.
Lead Source Performance
Hires are great, but taking a step or two back and looking at the data can help you understand exactly where your best leads are coming from. You may have ads placed on multiple platforms or on specific job boards, all with their own cost. But are they all performing at the same level?
Do you have leads from one source that fizzle out early in the hiring process, or are completely unqualified altogether? Leads for the sake of leads only wastes your recruiter’s time and detracts from the overall goal. This data can be collected in a variety of ways, such as your applicant tracking system, a “how did you hear about us” question on the application, or through dedicated links. The most important thing is to take time each month and examine which lead sources consistently produced the best candidates that actually led to hires.
KPIs are a staple in the sales world and have the ability to transform a recruiting team. But what if you only have one recruiter? Are KPIs still valuable? Absolutely. Beyond did you hire enough drivers to keep trucks filled here are 5 KPIs that every fleet should be monitoring:
- Speed to hire
- Quality of hire
- App to hire ratio
- Cost per hire
- App to qualified applicant ratio
Each of these touches on a different part of the recruiting process and can provide insight into problem areas. You may find that your marketing is working great but your recruiters are getting bogged down in the process. Or it could be that they are bogged down because the quality of applicants is subpar.
Any marketing strategy worth its salt will have well-established benchmarks throughout the campaign. Thinking past the “are we still on track” question, benchmarks allow you the freedom to pivot when a strategy is not working as well as you had envisioned.
These checkpoints can happen anywhere along the campaign and should contain critical KPIs to keep your progress on track. The biggest mistake that most carriers make when benchmarking is not setting them at specific intervals along the way. It can become easy to push these critical data points to the back burner when other fleet issues arise.
Marketing is only one piece of your driver recruiting process, but it touches all of the remaining. If unqualified applicants are entering the pipeline, you will not have as many hires as you need. If the applicants are marginal at best, they could present a retention issue farther down the road. Data opens the door for constant improvement.
Devoting time to review month over month or yearly statistics can shed light on the areas within your process that need improvement. Once uncovered, trace the steps backward and see if the root of the issue lies within the realm of marketing.
As mentioned earlier, ROI is 100% dependent upon the carrier. A general consensus is that cost per hire is a vital metric in determining whether a campaign is successful or not. In the end, it is all about the dollars and cents. Having a firm grasp on the data that each marketing effort produces will allow you to make informed decisions that ensure your money is being well spent and your overall cost per hire is lowered.
If you struggle with ROI, or are looking to refresh your marketing strategy, the KJ Media team can help. Our team has been in the recruiters’ chair and we know how difficult it can be to recruit high-quality drivers. Regardless of your fleet size, our team will roll out the red carpet and show you how to maximize your marketing effort and grow your fleet. What are you waiting for? Connect with our team today.