In most conversations about marketing, data is commonly heard in today’s business environment. A recent Forbes article highlighted the groundswell of support behind the potential that data has in developing innovative strategies. However, businesses need to understand the value-based differences between tools that take advantage of massive amounts of information and the data itself.
For instance, CRMs are just one example of a solution that is overwhelmingly driven by sheer volume of data that exists within contemporary companies. A business had a demonstrated need to harness seemingly disparate data points, aggregate it into a single, centralized system and access to analytics capabilities to make connections between entities. Within consumer-centric organizations, a CRM is an indispensable tool to connect with customers in targeted and personalized ways that leverage transactional, behavioral and attitudinal information to get a better picture of individuals, as well as groups.
How Do We Get the Right Data?
The Forbes article continues with this question as one that guides the decision-making processes in developing innovative tools to help forge new pathways for data growth. One solution is creating a product or service that aids in the development of new data points, such as the streaming music provider Pandora. Users subscribe to the service and create playlists, which help build a larger portrait of who the listener is and Pandora can then suggest other artists he or she might like. Initially, Pandora must have a clear understanding of the data points involved in categorizing music by genre or time period, for instance, and then users’ listening habits help generate a persona that Pandora can rely on to create a more personalized experience.
Otherwise, companies can work with third-party data. This is an alternative to creating a product or service that generates consumer information independent of external sources. Many organizations collect consumer information for the very reason that other companies will use it for marketing purposes. Think about the growth of Experian in the consumer data collection marketplace. Staffing organizations are representative of this brand of service providers that have access to voluminous data sets, which their clients looking to hire new talent require.
Data’s Place in Staffing Services
There are instances when companies experience turnover at the executive level and those brought on board often change the dynamic of a department or potentially the company as a whole. Fortune Magazine explained a common result is for incoming executives to depend on the services of a staffing agency to locate prospective candidates. Why? New leadership may view existing staff as less than ideal to accomplish their specific goals.
Searching for external talent to fill in upper-level positions is a way for organizations to verify they’re putting the best person in the right position. Fortune highlighted the fact that staffing agencies often do a much better job of locating passive candidates who are already employed but may be ideal for a given role.
Admittedly, there are multiple concepts at play here. This is how it comes together:
Data tools like applicant tracking software help to close the gap that staffing agencies may have in developing a firm handle on applicant data. In the same ways that marketers use CRM software to score and segment customers from data collection through lead generation strategies, recruiters need to be able to leverage applicant data from multiple sources into a single platform to get a 360 degree view of each candidate.
CRM-based staffing software integrates both internal and external data sources to provide staffing agencies with clarity into talent pools and the ability to uncover the most qualified individuals.
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