LinkedIn · professional social network
Let paying job seekers mark up to 3 jobs a month as their top choice
Top-choice applicants 46% more likely to hear back from the recruiter
What they did
What happened
- Stage
- scale
In their words
Value-Driven Growth: LinkedIn's Billion-Dollar Subscription Strategy — Ora Levit, LinkedIn
Ora Levit… and like you said, we care about our customers. Recruiters, hiring companies, paying customers come to the platform to ensure that they post jobs that job seekers can find and we want to make sure that that value prop continues and is strong. And so we wouldn't add anything that would ever make something that's related to finding a job or applying to a job, "I pay function. I do want members to be able to find, apply to jobs, et cetera."
Ora LevitWe would add features that might help job seekers stand out and would be beneficial for their recruiters as well. For example, one of the premium functionalities we have is the ability to mark a job or up to three jobs a month as your top choice, but you do by doing that as saying, "This job is the job I want the most and here's two sentence, elevator pitch, on why I'm the best candidate for that." On the recruiter side, we show you essentially, "This candidate marked this job as a top choice. Here's his elevator pitch essentially."
Jacob Eiting… 20¢, $1, $5, "me being their top job for the month." It's something, right? If I knew ... Because as a hirer, you're always just afraid of people that are just spraying and praying. They're just applying to every job. They don't care about you at all. It's fine. It's a numbers game at some point, but I would rather ... There tends to be better quality in the candidates that actually picked you for a reason, right? And so that's a great feature.
Ora LevitYeah, no, 100%. We see that members value from that feature to a great extent. Essentially, we launched it, I think about a year and a half or two ago and we see that individuals who do choose a job as their top choice are 46% more likely to hear back from the recruiter.
Jacob EitingYeah, it doesn't surprise me. That sounds about right. Yeah. We're just always looking for some standout signal, right? There's so much ... I guess maybe the flipside of LinkedIn creating such liquidity is that sometimes it's created too much liquidity where it's too much access, right? But I think that's what you need. I never thought of LinkedIn as really a two-sided marketplace, but it is. But less so than Airbnb or ... I don't think of …
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Tags: premium-feature, scarcity, two-sided-marketplace