Mark?
Hello Wise Man Say. Nice to meet you.
Pleasure’s all mine. Sorry I’m a bit a late – I was on Saffron Hill and just kept going…..
(There follows some chit chat about getting lost in that part of town, the benefits of serviced offices, and short speech from me detailing just what in the hell I do for the living – which is not much, as it happens)
Mark, I think the market has been waiting for a service like this – it’s great to see a UK company lead the way.
We’ve had this idea for some time so yes, it’s great to see it come to life. And being recognised by the industry is fantastic, especially after only being around since June. In fact, we won the Innovator of the Year award at the annual APSCO awards earlier this month….
Yes, I heard about that. Congratulations. Can you tell us exactly why you won it, as in put MyResourcer.com into a nutshell for us?
I’ll do better than that – I’ll pitch it to them. (crikey)
Q: If I could show you a way to get your client or prospect vacancy information delivered to you, in real time, would you be interested?
Q: If I could show you how to never miss a vacancy from your book of business, would you be interested?
Q: If I could show you how to multiply the number of interviews you send your candidates to, would you be interested?
I would be interested
There’s loads and loads of tech in the recruitment industry for candidate sourcing but there has been nothing to help recruiters on the other side of the job – developing new business. And that, in a nutshell is what MyResourcer.com delivers. We are a lead generation business for the recruitment industry.
Right. Lead generation. So how does that work exactly?
Let me give you an example. A typical recruiter CRM has something like 8.500 client records, maybe 200 – 250 of which you’ve actually done some business with. There tends to be a lot of data in recruiter databases that is just sitting there. Can a recruiter call 8,000 companies? Can a recruiter visit 8,000 company websites?
No?
(Mark carries on, as the question, clearly, was rhetorical)
Even if they did, there is no way that you could guarantee to catch the company at the right time – it is random chance that you would reach a client or prospect just when they are looking to recruit. Hence the massive amount of cold calling that recruiters typically have to do in order to generate new business. This is the problem we solve. We are a lead generation business for the recruitment industry, delivering real time vacancy information on your client data, with the information delivered to you direct to your email inbox.
So….this is just like….Google Alerts?
(Mark does very well not to be offended at the very suggestion)
Google indexes web pages through frequency of content upload. Corporate websites are notorious for being quite static – once built there’s usually nothing much in there that changes. Career pages, especially for those small to medium corporates which may have 4 or 5 vacancies per year, are not updated regularly enough for it to be picked up efficiently by Google Alerts. Our product can deliver this information to you in your inbox on your client or prospect data within a minimum time frame. The recruiter does not have to go through 8,000 web sites to find out which of his dormant or prospective clients are recruiting. Through his MyResourcer.com account, he will be able to set up Watchdogs (more on those guys later) which will do the work for him. Let’s have a look at the system, it’ll be easier to understand it then. Actually before we demo, let me walk you through how it works, then we can see it in action.
The first thing we need to do is import your client or prospect data. Out of 8,000 records on your average recruiter CRM, how many do you think have web addresses attached to the record?
………10?
It doesn’t matter with MyResourcer.com. Our software is able to pull out email addresses and work out the relevant company homepages from them, so we can immediately repopulate your CRM will completed records. The software also drills down into the structure of the site to get to the corporate vacancies page – the most relevant parts of the site for recruitment agents.
What about duplicate records? Every recruiter CRM has got loads of those
We’ve got de-duping built into the software. Once you’ve completed importing your client and prospect data into your account, you will have your data cleansed, de-duped and completed with corporate web pages. It’s so effective, that a lot of our clients having been asking if they can have their data back once they’ve uploaded!
Sounds like a potential money spinner on its own…
Yes, as we evolve as a company we are finding new commercial opportunities all the time. But our focus is in delivering relevant lead information to help recruiters make more sales. Let’s demo.
(Mark logs us in, asking for commentary on the look and feel of the site. I give my fully unqualified opinion. The demo goes well; it is indeed impressive…)
Once you’ve uploaded your data, MyResourcer.com spiders off into the domain, uncovers the career pages and brings back the vacancies. Recruiters are encouraged to set up ‘Watchdogs’ which trawl those records every hour and deliver back the vacancy information to the email address that is attached the account, in real time. All a recruiter has to do then is sit back and let the software do the lead generation for you.
You can set several searches per Watchdog. Usually our clients use a mix of Job Titles, Skills or free text, in much the same way that they would interrogate a CV database. The free text fully supports Boolean operators, so recruiters can customize their Watchdogs as they wish. However, we’re finding that most tend to leave it quite open so that they can get a wider picture of what’s going on in their client base.
This looks really easy to use…
User Interface was a critical part of what we do. We want to help the recruiter, not hinder him with overly complicated administration of a system that is hard to understand. With MyResourcer.com, anybody can come in and make use of it straight away. And once they see the value of it, they won’t leave.
(There follows a 10 minute diversion on the technical literacy of recruiters in general and IT recruiters specifically. We agree that it could be higher)
Anyway Mark, you were going to tell me about the other major feature of MyResourcer.com?
The second major feature of MyResourcer.com is the instant Live Search – bringing back up vacancy information on your client or prospect data without waiting for any Watchdogs to deliver. This is how we enable recruiters to monetize candidates that would otherwise never be used. You’ve been there before - you’ve got a great CV of a very place-able candidate but you have nowhere to put him – you don’t have any open jobs at the moment that fits in with what he can do. What happens? You file him off into a folder and tell him that you’ll contact him when something arises. Which never does. With MyResourcer.com Live Search, you can match vacancies from your client or prospect database to your available candidate as soon as you receive his CV and start making the calls to your clients that you now know are definitely hiring his skill set.
That…is really a good idea.
There’s more. Another spin off of our service is the data we capture on the vacancy market. Most market reports are still based on agency posted adverts – which as you know could be anything – duplicates, re-posts, fake ads, the works. Our methodology means that we are capturing data on only those jobs that are advertised on the corporate career pages – the real thing. Again this is something we are looking to commercialize further down the line.
Truth is, MyResourcer.com offers a number of angles for the recruiter. They can use this as an extension of their Customer Relationship Management system – allowing them to be more efficient with their time in being in touch with clients that are actually hiring. They can use it to monetize candidates they would otherwise lose – the examples we’ve talked about earlier. They can expand their business opportunity within a client by identifying and cross selling into other departments that they weren’t dealing with. And at a strategic level, it’s great for recruitment companies looking to start a new division – you can do accurate market research on which are the growth areas to invest in, and quickly establish credibility once you launch.
We’ve talked about commercializing the spin off services, but how do you make your money now?
It’s a licensing model, with costs based on number of seats. We are strong believer in try before you buy, so we offer a free trial of the service to any recruiter who wants to give it a go.
(which you can do here)
How long until world conquest?
It’s a new service so it’s difficult to say, but we’re the only ones doing it so far. There will be market entrants and we look forward to seeing them arrive, but we’re confident we’ve got the model right.
Thanks Mark – impressive stuff.
Thank you Wise Man Say. Look forward to seeing the interview
Thanks to Mark Lennard who is Executive Director of MyResourcer.com. MyResourcer.com are a revolutionary lead generation business for the recruitment sector. Follow their progress on @myresourcer
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