This article suggests ways in which information obtained from the job market can be used to complement or affirm other market research and lead generation efforts. Macro Level: Job Market as a Sensor of the Industry and It marketsJob markets are inextricably entwined with their respective industries. Demand for technology expertise in B2B technology market segments reflects major business and technology trends taking place in that particular sector. The job market can therefore be used as a resource for business information, supporting strategy, marketing and sales.Industry Trends; Applications and TechnologiesVariations in demand for engineering expertise identified with a technology or application arise from different causes, all of which are important indicators of the marketplace. Growing number of companies engaging in an expanding technology, a technology approaching the end of its life cycle, or regional economy effects are only a few examples of related scenarios. Perceptive scanning of online job postings for EMC, WiFi or RFID engineers for example, will correlate to global trends in those industry sectors. On the other hand, try to find openings for low-frequency, high power RF engineer and see what you will come up with!Market Trends; GeographyOne can actually map-out worldwide technology and manufacturing centers by scanning international job boards for posting requiring matching engineering skills.Observing international markets, we expect to find a direct correlation between the job market and the business potential in that country. Regional shifts in demand typically relate to local factors and, therefore, present an opportunity or challenge awaiting attention. Attention to the specific engineering expertise in demand will indicate the state of an industry/technology sector in that region.Scanning through international job boards for example, brings up all those offshore destinations and regions currently experiencing industrial growth (e.g. India, China, and Eastern Europe).Micro Level: Job Postings as a Resource for Business DataA company’s hiring activity reflects its ongoing business and where it is heading. Expansion in manufacturing, engineering, or R&D activities creates job vacancies, and most of these are posted online. Publicized job vacancies as well as engineer resumes can be used to explore business opportunities and prospects.Identifying ProspectsWouldn’t you expect that companies hiring engineers matching the professional profile of your clients might also need your product or service? Monitoring online job postings specifying requirements typical to your client engineers’ roles and expertise will reveal untapped accounts (companies, potential customers).”What Is The Competition Engaged With?”Observing competitors’ recruiting ads provides revealing insights into their technology and business activity. Occasionally this will confirm what is already known; but, at times, it might also expose strategy and unpublicized activities.ConclusionsThe concept described above is not a breakthrough. It is simple logic derived from observing related employment information posted online. The innovative concept is using this data for very pragmatic purposes. Unlike earlier days, this quest for information is easily accomplished using Internet research tools or services.Isaac MendelsonElectroMagneticCareers.comIsaac@ElectroMagneticCareers.com
About the Job Market and Marketing
