Time for some math.
Divide submitted leads by the number of applications those leads filled out. That’ll get you your lead-to-app conversion. Or you could divide applications by leads if you prefer a lead-to-app ratio. However you choose to find it, this is how you calculate lead-to-app data (“app” in this case is short for application, not mozzarella sticks). Whenever running a hiring campaign, it’s a Key Performance Indicator (KPI) you should get to know. Examining your lead-to-app data provides a wealth of knowledge:
Applicant Intent
By looking at your lead-to-app numbers, you can get a good idea of how motivated your applicants are. Low ratios or high conversion rates can communicate useful stories about your campaign.
Lead Quality by Source
Not all sources are equal, nor are their lead-to-app ratios. After considering candidate intent, break them down by source. But be careful. Some sources may have higher numbers but fewer conversations compared to those numbers. It’s the ratio that matters. Also make sure to examine your sources at different intervals to get a clearer picture of how they perform over time.
Performance by Recruiter
What successes can you find within your own team? Comparing a recruiter’s lead-to-app ratio or conversion rate gives you the ability to discover recruiter strength as well as opportunities to cross-train others.
And that’s just the beginning of what lead-to-app ratios have to offer. If you’re not already pulling this data from your reports, you should start right away. Who knows what useful insights you may find!