Monster.Com
Autor: r0nkul • May 10, 2015 • Thesis • 872 Words (4 Pages) • 842 Views
Introduction
Monster.com is one of the most visited employment websites in the United States and one of the largest in the world, Monster is leading in online career network.
54 Million of active registered users |
800.000 job postings |
$593 million in revenue, |
$112 million in operating income |
As number facts for 2014
December 2003 new venture: Monster Networking
-Supportive community.
It decrease acquisition costs, reduce risk that job seekers would switch to other online recruitment sites
Performance has been mixed
Postive | Negative |
Networkers were deeply engaged | Subscription revenue growth had been low |
[pic 1]
Background of Monster.
[pic 2]
.
Business Model
- Offering access to large number of job listings results in [pic 3]
Attracting more job seekers[pic 4]
Motivate more recruiters to post listing
- Monsters revenue came from recruiters, who paid to post jobs.
- Job seekers were not charged
More information | Search function |
Fast response | Cheaper |
- Advantages over print ads
- Attracting job seekers by mass-media advertising, portal distribution deals For instance AOL and MSN
- Maintaining relevance between job searches (on-going relationship with customers, give also career advice, provide community forums, several services for high school or college students or military personnel seeking).
Competitor
Two main rivals : CareerBuilder and Hotjobs.
[pic 5] [pic 6]
Online Social Networking
- A persons closest friend often can offer little help when searching for a job for example
- One person is linked to another person, which is connected to others.
- A well-connected individual with a wealth of relationships is called a hub
- In a network every request must be passed from neighbour to neighbour
Monster Networking Initiative
- Middle 2001: opportunity to increase audience through classmates.com.
- Classmates.com (founded in 1995, Seattle based, one of the most 50 heavily trafficked U.S. Websites in 2001, 16 million members, provide possibility to interact with old friends).
- Monster wanted to buyout Classmates.com to introduce Monster through the website and have a “Workmates” function.
- Classmates.com CEO Michael Schutzler joined Monster after 9/11 to help launch social networking services.
- Schutzler wanted to pursue in-house development rather than acquisitions.
- Monster always tried to dedicate about 6% to 8% of revenue to Research and Development (R&D) and Networking was one of three big in-house R&D projects in 2003 (Staff of 12, 5 were in technology, first year’s budget $3 million).
Monster Networking Features
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