3 ways to uncover new business development opportunities
No two recruitment businesses are the same, but in 2024, there’s a common goal running through nearly every agency: the need to win new business. In last year’s GRID Industry Trends Report of more than 2,000 global recruitment professionals, winning new business was listed as the top priority in every corner of the world.
Though the industry landscape feels daunting, there’s a smarter way to be the first to job orders, uncover new leads, and consistently deliver clients. It all starts with a winning tech stack from Bullhorn.
Two Bullhorn experts – Oliver Stevenson, National Account Manager, and Abaid Rana, Solutions Consultant – dove into the features of Bullhorn Automation, Analytics, and SourceBreaker, to learn how these solutions can help you and your agency get ahead.
Here are their top tips to get started – or check out a recording of their conversation, complete with a demo of all three solutions.
1. Better understand your clients
The data you need to understand your clients: say hello to dashboards in Bullhorn Analytics. Dashboards offer seamless data updates and customisable views, allowing you to gain deeper insights into client metrics, job activities, and overall engagement. By filtering data based on business hierarchy, time frames, and specific client metrics, you can tailor your approach to each client. Dashboards also feature key metrics for you to take in at a glance, including interviews conducted, jobs added versus targets, and contractor activities over a specific period.
Analytics also empowers your team to analyse efforts versus outcomes, identify areas for improvement, and strategically foster client relationships. Equipped with a deeper understanding of your clients – and where to best focus your efforts – you and your team be sure that your business decisions are backed by data.
2. Re-engage dormant clients
One of the biggest challenges in the recruitment industry is identifying and re-engaging with dormant clients. That’s where Bullhorn Analytics comes in. Bullhorn Analytics can identify dormant clients based on various metrics, such as no recent calls or placements. Analytics also provides you with actionable insights based on these metrics, taking the guesswork out of your decisions to re-engage with clients.
SourceBreaker by Bullhorn can also help you and your team monitor target companies for new opportunities. Within SourceBreaker, you can create Watchers or Source Bots to monitor specific companies for job openings. With these proactive alerts, you can stay ahead of the curve and capitalise on potential leads without extensive manual outreach. Plus, SourceBreaker seamlessly integrates with Bullhorn Analytics, ensuring that you’re always informed about new leads and opportunities, allowing you to prioritise your efforts effectively.
Automation can also be a key asset in engaging dormant clients. Bullhorn Automation enables you to set up automated campaigns targeting dormant clients based on specific conditions and triggers. Automation also sets up reminders and alerts, so you can ensure timely follow-ups and optimise communication strategies for maximum impact. Branching logic within Bullhorn Automation also allows for decision-making based on client responses. For instance, if a client interacts with the email, different actions can be triggered compared to those who don’t engage. By personalising communication methods and adapting strategies to individual client preferences, you can increase engagement and drive better outcomes.
3. Find promising new leads
When looking for new business leads, it can be hard to know where to start. SourceBreaker revolutionises business development by providing access to a vast database of company career pages and job postings, all within the Bullhorn platform. SourceBreaker allows you to view detailed job descriptions, access original job postings on company websites, and explore company profiles to gather more insights about potential clients, all in one place.
SourceBreaker also simplifies the process of conducting searches for new business leads by providing a comprehensive library of keywords. Plus, you can refine your searches based on specific criteria, such as job titles or target companies. For example, even with basic keywords like “Java” or “developer,” SourceBreaker will provide a curated list of relevant companies and job postings. SourceBreaker also integrates funding data directly from Crunchbase, allowing users to identify companies that have recently received funding and may be looking to expand their operations.
For those newer to business development, SourceBreaker can serve as an information enablement tool, providing insights to help you make informed decisions on who to contact and engage with. “One client described it to me the other day as their to-do list that gets sent to them every morning,” said Stevenson.
With customisable search criteria, detailed company profiles, and key business insights, SourceBreaker empowers you to efficiently identify and pursue new business opportunities. By leveraging data-driven insights, automation, and advanced analytics, you can streamline your business development efforts and stay one step ahead of the competition.