The magic of the ‘Rever$e Market’
This tactic is as old as the recruitment hills, but it is still a highly effective way to achieve outstanding outcomes.
And it is critical right now.
Job orders are harder to get. Many recruiters have shallow business development skills. Client relationships have not been nurtured.
This ‘old school‘ tactic (like ‘old school’ is a bad thing! LOL) can open countless doors.
But you have to be very good at it.
The ‘reverse market’ – or ‘speccing out‘ as some call it.
We are talking about identifying a highly skilled candidate in a niche and then contacting a targeted prospective client to represent that candidate to that potential employer. In this situation, you don’t have a confirmed brief to fill, but your market knowledge suggests that the client or prospect will likely be interested in your candidate’s skill set.
Let’s consider the broader benefits.
· Firstly, reverse marketing quality candidates substantially impact the growth of your personal and company brands. This is because you are seen to be an expert. You are seen to have access to top candidates, and you are seen to be making an intelligent match.
· Reverse marketing sends a strong message to current clients when you contact them with prospective hires, particularly if you’ve already briefed those hires on your client and can say with authenticity that the candidate is interested in working with them.
· This tactic demonstrates to both candidates and clients that your company is a specialist in a particular niche, has contacts and can make things happen
· And, of course, this is an outstanding warm business development activity. As outlined throughout my new book, ‘Recruit. The Savage Way’, we must go to clients with something of value to them. What better offer can you make than a highly skilled candidate with a difficult-to-recruit skill set?
So, it’s a great idea to reverse-market candidates, but how do you do it?
* First, start by asking clients on an ongoing basis what types of skills they are routinely on the lookout for. Most companies can nominate a profile or two. In addition, you can sometimes set up ‘standing briefs’ where a client acknowledges that you will contact them if you see an exceptional candidate with the right competencies.
* To reverse market candidates, you need to understand the skills of your candidates deeply. You only select outstanding candidates to reverse market. You represent candidates that have hard-to-find skills that are in high demand.
* Importantly, you get the candidate’s permission to represent them to the specific companies you plan to approach.
* Ensure you are transparent with the candidate that there are no guarantees and that you don’t have an open order with this client right now. You are ‘acting as their agent and representing them to the best employers.’ (Feel free to steal that phrase. I probably did. It is very effective)
* You can approach current clients, which is obviously a warmer call. You can also call prospects. When you do, the language you might use is something like this.
“Mr Prospect, we haven’t spoken, but my name is Greg from GregSearch, and I represent the best creative and design talent in Australia. This week, I interviewed one of the most outstanding and talented UX designers I’ve met in some time. He particularly mentioned that he would like to work at your company. Would you like to have some details?”
Remember, great recruiters tell no lies, and the above statement will be true because you would have said to your candidate. “Bob, I think you might fit in with ABC Ltd. This is some detail about them. Would you like me to represent you to them?” Once your candidate has answered in the affirmative, he has specifically said he’d like to work at that company.
If the client suggested that they’re not looking for UX talent right now, you would acknowledge that and then prompt a conversation about their current hiring needs.
Reverse marketing is a door opener. It’s still a massive success if you come away from that call having secured a different brief, or maybe agreed to have a coffee with the prospect, or possibly set a time for a follow-up call in three months.
It’s outbound, proactive business development, compelling and done well, is appreciated by both prospect and candidate.
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Based on what I see is working and not working in the leading recruitment companies I work with
Includes detailed module on the ‘Reverse Market’
90 minutes of fresh tactics to thrive in the coming year. Sign up now
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- Posted by Greg Savage
- On November 20, 2023
- 4 Comments
4 Comments