Creating a business development strategy for a recruitment agency is challenging. A recruitment agency has a log of things to manage. Engaging with candidates ensuring that they will stay in touch for new opportunities, helping existing companies to find talent and at the same time trying to do business development in order to develop synergies and collaboration with new companies that are actively hiring for new open roles.
Simply put, you need to realise that there will be no roles to fill or recruit anyone if there are no clients asking you to do so for them. That's why business development is crucial for the success of a recruitment agency
Is business development just a fancy word for sales?
No, not at all. Sales are actually only a small part of the business development process that your recruitment agency should start working on. But what is Business development? I will leave Scott Pollack explain it better:
Business development is all about creating long-term value for an organisation from customers, markets, relationships and so on...
Scott Pollack, one of the contributors from Forbes.
So if would like to create a simple list for these activities this would include:
- Ecosystem mapping (Identify all the players in your market segment)
- Spot growth opportunities (How can you grow in your market segment?)
- Idea generation (Inovation is your best friend. Do something that others don't)
- Experimentation (A/B test activities, copy, events, marketing efforts)
- **Prorpecting **(from cold calls to cold emails)
- Lead generation (HINT: Loopcv can help you find the businesses that are hiring urgently)
- Partnership management (Maintain partnership relationships is crutial)
- Enhancing public Image (Your social media and your presence is the mirror of your company. Invest in Branding, press releases etc.)
- Increasing market exposure (don't stick to just one market and segment)
- Networking (You never know how networking events or calls can help)
Which activities are critical for business development?
If you want to actively perform business development for your recruitment agency you have to start building relationships (online but also of-line) with companies, recruiters and candidates at the same time. And there are a lot of strategies to do that.
In this post we provide 10 Business Development Strategies For Recruitment Agencies that you can start implementing today. We also explain how Loopcv can help you prioritise your lead generation efforts and start converting more prospects into clients.
Use Loopcv to identify companies that are urgently hiring
With the data collection and lead scoring algorithms of Loopcv, you can prioritise your business development efforts. Loopcv can help you do the following:
- Create a list of roles or market segments that you are interested in (i.e logistic jobs, software engineering jobs, finance jobs etc.)
- Setup specific rules and attach a score for each company (with our lead scoring settings a company with a new job posting gets +1 etc.)
- Use the lead scoring to sort companies base on their score (a company with 10 open positions posted yesterday in your segment that recently got fundings is a first priority to call, compared to a company with one job posting published 3 weeks ago...)
- Enrich a contact with our smart email and linkeidn integration
- Push the data to your CRM with our integrations in order to start engaging with them and win
- Configure automated updates to change the score and priorities daily and focus only on the companies that have a higher probability of being converted
Interested to learn more? Book a call with us
Engage with your leads on LinkedIn
LinkedIn is the best networking platform for job seekers and professionals and it can help you A LOT
So don't hesitate to start connecting with people sharing insights and start cold messages. You never know
There are also hundreds of groups that you can join to connect and interact with group members.
Finally, you can take a look at this job recruitment app.