Links and Monetizing Your Database

Bill Martineau has a blog called The Voice Of  IT and last week he wrote a post that sums up what he thinks about facebook and how he feels about name sourcing and cold calling. I agree with him.

From Bill’s blog, I found a blog called Diary Of A HeadHuntress. How could you pass that up right? I couldn’t. I saw the picture and I am pretty sure I recognize her from a Pinnacle Society Meeting I attended on behalf of the Fordyce Letter last year. Her name is Karen Russo and she was there because she has a successful recruiting business. She makes time to blog. Imagine that. I liked this post on mentally checked out employees. she doesn’t post often but maybe that will change.

There is excitement these days within the recruiting community, mostly on the corporate side of life about social networks and how their recruiting can infiltrate facebook and Myspace in a nice social kind of way. It’s expensive to identify talent and if you can do it cheaply, well, why not. As far as I know, it’s really the first inning with respect o recruiting and social networks.

It brings me to my next point. If you have a database with 30,000 people in it, I’m going to venture to say that 400 of them will change jobs this year. I’m sure in that 400 there are a lot of placements you are not involved with. I think this is a huge opportunity for recruiters. It’s why I think blogs and social networks can have a deep impact on a recruiter’s bottom line. It’s where the opportunity lies. Here is a perfect example of how to monetize your database. Your clients buy research. Plain and Simple.

Imagine if you every week did a roundup of all of the news in the industry you recruit in. You then posted it on your own blog or private social network and then let your entire database of candidates know about it. Many good things will come from it. Placements and new business will come from it.

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What if over the next 12 months you identified 1000 candidates in your database that you felt comfortable making an investment in. You buy each of them $100.00 worth of Starbucks coffee. So now you are out of pocket, how many placements? Exactly.

Referrals are the lifeblood of this business and when you call, if the candidate feels they have gotten good value, they will be more willing to help. You pay forward.