The Stepstone Group is a leading global digital recruitment platform dedicated to connecting companies with the right talent and helping people find their ideal jobs. Through its AI-driven job marketplaces and programmatic-powered marketing solutions, Stepstone facilitates over 130 million job applications to approximately 140,000 employers annually. In 2023, The Stepstone Group achieved a revenue of around €1 billion, operating in more than 30 countries, including Stepstone in Germany, Appcast in the USA, and Totaljobs in the UK. The company is headquartered in Düsseldorf, Germany, and employs around 4,000 people worldwide.
The Problem to be Solved
Long-time Textkernel customer, Stepstone, aimed to improve its business development efforts and increase market share in the UK through its brand, Totaljobs. The company had made positive strides towards this objective, despite strong competition in the recruitment sector. But leaders identified a need for better data and information on job placements. Finding and retaining talented sales staff required a more strategic use of resources and ensuring they were well-equipped for success.
Furthermore, the sales team needed to improve telephone-based acquisition rates, with competitors vying for many of the same prospects. Having access to the right data and understanding which companies were placing adverts with which competitors was crucial for initiating and deepening conversations. To address these challenges and scale their business development efforts effectively, Stepstone turned to Textkernel.
As a strategic move to enhance business development efforts, the company implemented Jobs Data. They sought to address several challenges:
- Identifying new positions from existing customers that were not yet posted on Stepstone.
- Finding new customers that align with Stepstone’s offerings.
- Preparing for sales calls by analyzing the job posting trends and durations of target companies.
How Textkernel Helped
Textkernel and Stepstone share a common mission: connecting people with jobs. This alignment makes partnering with Textkernel a natural fit, enabling both companies to leverage their strengths for mutual success. By leveraging Textkernel’s advanced recruitment solutions and labour market data, Stepstone can enhance its mission of helping people find the right jobs and supporting companies in finding the right talent more effectively and efficiently.
Textkernel provided Stepstone with powerful data-driven tools that help scale its sales and lead generation efforts.
By integrating Textkernel’s Jobs Data, Stepstone’s sales team gained the ability to:
- Research Client Companies: Sales representatives are able to delve into client companies, tailoring their pitches to meet specific hiring needs. This also helped identify new positions from existing customers that were not yet posted on Stepstone.
- Scale Business Development Efforts: With the insights from Jobs Data, Stepstone can streamline and expand their outreach efforts, allowing sales representatives to focus on high-potential prospects and reduce time spent on research.
- Data-Driven Discussions: Using Textkernel’s data, the sales team has more informed, data-driven discussions, leading to better decision-making.
- Analyze Competitor Activity: Jobs Data enables the team to identify competitors and understand the number of roles advertised, facilitating more targeted and effective conversations with potential clients. This prepares them better for sales calls.
- Enhance Prospect Engagement: Armed with detailed insights, sales representatives showcase customized solutions, demonstrating thorough research and increasing client engagement.
The Results
With the support of Textkernel, Stepstone’s sales performance is improving. An internal analysis revealed that the top users of Textkernel achieved notably higher target attainment rates compared to the overall sales team, with a marked improvement in performance metrics. The data and insights derived from Jobs Data have had a highly positive effect on the sales results. Additionally, it was noted that their number of calls increased significantly.
While Textkernel’s data is a key factor, it complements and enhances the existing hard work and strategies of their sales team.
Natalie Truscott, Business Development Manager, shared her experience: “This is beneficial in terms of getting through to the decision maker, because you can ask for the person that looks after, for example, the Indeed, CV Library, or Reed account.”
Prospective customers were impressed by the insights provided by Textkernel, often inquiring about the source of this information. This ability to provide detailed and accurate market insights strengthened Stepstone’s connections with prospects, driving better sales outcomes.
Within the first few months of implementation, Textkernel’s Jobs Data has helped scale Stepstone’s business development efforts in the UK. By leveraging detailed insights into client and competitor activities, the sales team has significantly improved their efficiency and effectiveness. The ability to scale their outreach and target high-potential prospects more effectively has been a key benefit. The continued integration and deeper utilization of Textkernel’s tools are expected to further enhance Stepstone’s growth and success in the competitive recruitment market.
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