2.2(d) Cost/benefit of advertising strategies
Since the cost will vary depending on the newspaper chosen, span of coverage, placement within the paper as well as size of the advertisement, it is obviously important to map the response rates.
A table would be an effective way of recording relevant details. It is probably to your organisation’s advantage to do some sort of cost/benefit analysis on the advertising process.
- How? By keeping statistics.
- How many replies and where did the majority come from?
- How many interviews were scheduled?
- Which method attracted the largest number of suitable candidates?
- Which method attracted the largest number of unsuitable candidates?
- Were any of the candidates unsuitable because the ad was misleading?
Over time, you will be able to see where your best response is coming from and tailor your advertising accordingly. You may find different types of jobs will have different successes.
Without some form of control on your advertising, you cannot hope to be cost effective.
Decisions about these options will depend on the accuracy of the feedback available from your current strategies.
The ultimate measure of the effectiveness of your advertisement will be how well the person chosen performs on the job and whether they stay in the position!