For our 2016 Staffing Industry Sales & Marketing Communication Benchmarking Report, we talked to 70 staffing and recruiting professionals about how they communicate with their prospects, what technology choices they make, and what sales and marketing trends are on the horizon for 2017. Just like last year, we compiled the data in this report to offer insight into what sets fast-growth firms apart.
The most dramatic findings were in the communication strategies of fast-growth firms compared to slow-growth firms. We defined fast-growth firms as those anticipating 51% growth or more this year and slow-growth firms as those anticipating an annual growth rate of 10% or less.
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Last year, we found that fast-growth firms rely more heavily on text and social media, while slow-growth firms stick to the older modes, like phone and email. We also found that slow-growth firms use mass communication more often, while fast-growth firms have developed personalized communication strategies.
This year, we expanded on this knowledge. We found that fast-growth firms relied on text messaging in their communication strategy nearly two times more than slow-growth firms. What’s more, there was marked difference in the way fast-growth and slow-growth firms used text messaging. Fast-growth firms, for example, are 4.7 times more likely to use text messaging to follow up initially. Slow-growth firms that do use text are much more likely to use SMS to touch base with inactive candidates.
Here are our key takeaways in the difference between slow- and fast-growth firms:
What communication channels do you use?
- Fast-growth: use text messaging more
- Slow-growth: use phone touches moreHow quickly do you follow up?
- Fast-growth: more likely to follow up within five minutes of contact.
- Slow-growth: more likely to take up to six hours on average to respond to contact.
What technology do you use?
- 91% of respondents use TextUs for their text messaging app
- Hubspot saw the largest increase in CRM market share
Other highlights include:
- Across all firms, the biggest challenges are getting candidates to respond and finding qualified leads.
- Fast-growth firms close deals 23.7 days faster than their slow-growth counterparts.
- Fast-growth firms are over 20% more likely to use a diverse mix of outbound and inbound sales tactics.
- Slow-growth firms use social media marketing nearly 35% less than fast-growth firms.
Download the 2016 Staffing Industry Sales & Marketing Communication Benchmarking Report Here.
For more information, please attend our upcoming webinar on the topic.
How does your firm compare? How would you describe your sales strategy? Weigh in on the comments. Looking for more on how fast-growth firms do it? Check out our fastest-growth staffing industry executive interview series.
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Great read. Interesting data points.