Monster.Com CEO: ‘Ad Business Has Slowed Down Because We Slowed It Down’
Monster.com CEO Sal Iunuzzi says the job site’s outlook for ad growth is slow this year but it’s not a surprise. He told the WSJ: I think the ad business has slowed down because we slowed it down. We took a lot of ads down. I think there is bigger opportunity putting the ads on a wider band of sites. Suppose I create a Military.com [a Monster site in the U.S.] for France, for the U.K., for the Netherlands, Germany, etc. Not only is it growth in my recruiting businesses, but that’s where I can get a lot of growth for my advertising business.” (No mention about Monster.com’s efforts to work with newspapers or how any of the site’s partners might feel about deliberately slowed growth.)
As for pressure for social nets for professionals like LinkedIn: “It’s interesting, but it is not a replacement for what Monster does or what Monster is trying to bring to the table.”
Iunuzzi also talked about the problems with his company’s own product when he was brought in last year: “One of my own people put in for a job, went online and tried to look for a job as a head of HR. The responses he got [included some] for hairdressers, a manicurist, things like that. Now that we’ve fixed that, the number of responses to a job search has more than doubled, and they are jobs that make sense.”
sounds like another CEO that doesn't understand his business — yikes! Short this stock!!!!!!!!!!!!!!!!!!
New feature after new feature, new strategy after new strategy, Monster never seem to get it quite right.
Anyone remember the MyMonster service which asked users to pay around £15 in return for a full on psychometric test tool which helped you decide which career you're suited to? A great tool for apathetic students and twenty-somethings who can't decide on a career path – but where did it go?
Good to see they're on the right track in boiling down their offer to the bare basics, but will be enough? Ignoring LinkedIn, they face massive competition from niche recruitment job sites – so why not tackle that and develop a name in niche areas of recruitment?
I am a recruiter. Monster.com was a leader for quality resumes (the key word being WAS). Now, one gets a lot of unrelated resumes as candidates just fill in the wrong keywords. Also, no passive candidate wants to be seen on Monster.
Linkedin costs a fraction of Monster and delivers 5 times as much in terms of quality candidates. Even Facebook offers more candidates.
I read with interest the coments made recently about Monster.
My business offers recruitment and HR services to the construction industry and has done so for 9 years.
We have used Monster for 5 to 6 years. In the past it has been focused , helpful and we did get results via an annual contract to advertise.
In the past we have had interesting CV's for middle mananagment and senior roles and usually a good account manager.
But this year our contract was more extensive, offered a better profile and I felt that in difficult times it was worth spending more to profile the business etc.
The result has been:
Poor levels of responses and weak candiates and the jobs have been with well established busineses with good packages.
We are still working in the same industry and market that we have in for the last 9 years.So I feel a levle of understanding with the previous comments made by Anath Raman….
We have had exceptionally bad customer servcies from Monster which traditionally was good and an account manager who 'did' support our contract.
This year I've had one contact from my account manager and desipte making contact with them and complaining – they support is still poor!
After spending thoundsands on more extesive contract I've been horrified at the service from Monster! So my contract is up for renewal and Monster still haven't contacted me!!!!!! So I'm reviewing the market place to see what I can get for the future.