Unidentified Analyst: Thank you very much.
Operator: Thank you for your question. Our next question comes from the line of Justin Patterson with KeyBanc Capital Markets. Your line is live.
Unidentified Analyst: Great. Thank you. This is Jacob on for Justin. How are you thinking about the dynamics between paid employers and revenue paid employer into 4Q? Is there anything specific you’re seeing so far that would cause 4Q to deviate from typical seasonality in revenue per paid employer? And in paid employers, how should we approach the pace of substantial decline if we lap the big decline you saw in 4Q 2022? Thanks.
Tim Yarbrough: Thanks, Jacob. This is Tim, again. So for Q4, what we would typically see is paid employers ticked down more materially than in other quarters. And that is due to the fact that the vast majority of our paid employers are comprised of small and medium-sized businesses, and they tend to hire quite a bit less as they go into the holiday season, whereas larger enterprise employers, they also reduce spending a little bit typically, but not nearly to the same degree. And so that also means that revenue per paid employer going into Q4 will typically go up, and a lot of that is largely due to the mix shift from SMBs towards enterprise during that period. So I’ve said to an earlier question that we’ve not seen typical seasonality for a while, but that trend for paid employers sequentially ticking down in Q4 with revenue per paid employer ticking up in Q4 for those very reasons seems like a pretty reasonable expectation this time around.
Unidentified Analyst: Thanks.
Operator: Thank you for your question. We have a follow-up question from the line of Trevor Young with Barclays. Your line is live.
Trevor Young: Hey, guys. Just more bigger picture away from the near-term trends. You flagged the significant growth in jobseekers, any color you can share on where those jobseekers are engaging in terms of which services? Is it mobile app, mobile web or desktop any noticeable differentiation between like frequency of visits, time spent in the app or on the website, likelihood of applying across those different surfaces. Just curious on that.
Tim Yarbrough: Yes. Thanks, Trevor. The growth in jobs – organic jobseekers is obviously a very exciting part of our business and such a strong long-term indicator of the strength of the marketplace. So to your question on where they’re interrupting, First of all, obviously, when they join, they have to onboard and sort of build a profile and give us something to go on so we can start matching the right jobs. And right away, Phil plays a central role. So they’re in a dialogue rather than filling out a form and making that process as we continue to iterate and get smarter and better, continuing to make that process of getting the process started, which is often the most difficult part of the process for jobseekers and the scariest of making that as easy and as human and as natural as possible.
And so we just keep getting better at that. Two is that the brand being so much more well known, so they’re going from over a decade 0% brand awareness to over 80% brand awareness. Jobseekers are leaning in from the moment they get started and have a level of trust coming in that you can just see. In terms of where they do it, job seeking is a dominantly mobile activity. Desktop really isn’t a major factor. So that’s both mobile web and mobile app in terms of sort of access points into our marketplace. But regardless of how you come and find us on which mobile platform which app store, which browser you’re using, et cetera, the fundamental experience of feeling like there’s a real human being rooting you on in the form of Phil and that this is a real place where you get very quick feedback where you immediately started getting invited to apply to jobs that are a great fit for you, et cetera.
That’s what’s really working for us.
Trevor Young: Thank you.
Operator: Thank you for your question. Ladies and gentlemen, that will conclude today’s ZipRecruiter Q3 2023 earnings call. Thank you for joining. You may now all disconnect. Have a great evening.
