Hire to bid ratio explained
The hire-to-bid ratio is a measure of the success you are having when you contact students.
A hire is made on the first occasion a student books a paid class with you. A bid is made when you respond to a student's request through the jobs board.
Your hire-to-bid ratio is your total hires divided by your total bids.
Why is the hire-to-bid ratio important?
Hire-to-bid ratios indicate how well a tutor is performing at winning clients on Spires relative to their peers.
A high ratio means that a tutor is winning a larger percentage of their bids, and thus making better bids or bidding on subjects with less competition. Targeted, high-quality bids at sensible prices on relevant jobs will win clients on Spires.
A low ratio means that a tutor is making lower-quality or spammy bids and not winning clients. It can also indicate that their bid prices are too high for their qualifications/skills and experience relative to the market or they are bidding in very competitive subjects.
We would consider a hire-to-bid ratio of less than 10% cause for concern. Statistically speaking, if someone were to bid on jobs at random, they should win at least 10% of them. If your ratio is lower, then this may mean there is something wrong in the bidding process and you should pay close attention to the things suggested here.
Hire to Bid Ratios are a very important metric on Spires. Consistently poor quality bids are a very common reason for tutors losing bidding privileges on Spires.
How to improve your Hire to Bid Ratio
We have observed the best tutors do the following when trying to win students:
1. Bid on relevant jobs with a tailored message
Targeted bids on jobs for which you are qualified and have sufficient experience are more likely to get you hired. That means most tutors should be bidding on just a few subjects. Make sure your bid speaks to the client's needs and goals and helps to explain why you are the best tutor for them to work with. Invest some time and energy into making good bids.
You can also make use of bidding templates in your account settings, however, this is there to speed up the bidding process, not to submit lots of bids as fast as possible. Misuse of this mechanism will ensure that you have a poor hire-to-bid ratio.
2. Bid with a reasonable price
We understand that different skills, experience and demand should dictate different prices and we encourage tutors to bid a fair and appropriate amount for their services. But extremely high, speculative bids that are very different from the overall market for your services will result in low Hire-to-Bid ratios and will hurt your performance on Spires. Be realistic about what clients can pay, not just what you hope to earn. We give guidance about what bid prices are most successful at winning clients on Spires throughout the platform. Remember that winning the bid is only the first step, clients then need to book repeat classes with you, and that has to be affordable for them.
3. Make sure your profile is good
Many tutors could benefit from a better photo, which should be of them smartly dressed, looking at the camera and smiling, with a neutral background. Those who are doing more than 100 hours of tutoring a year should invest in a professional headshot. This goes a long way to demonstrate professionalism.
The profile should be detailed and offer insight into what you teach and why. A handful of subjects should be selected, as a profile with many subjects looks questionable to clients. See how to make a good profile for more details.
4. Bid quickly on jobs
Bid speed is a significant factor in getting hired on Spires. Generally, the quicker you bid after the job is posted, the more likely the client is to consider you. However, we do not recommend spam/speculative bidding just for the sake of speed. Always bid on relevant jobs, read the information the client has presented and make your bid appropriate to the client, where possible.
5. Be professional and responsive
Generally being positive, supportive, responsive and on top of your client interactions at all times will lead to more hires and better ratios. If a client responds with interest to your bid, respond to messages quickly to maximise your chances of winning the job and retaining clients.
6. A lack of availability
Tutors need to have the time to fit students in. Most tutoring will take place outside of regular school hours, this is most likely to be between 4-7 p.m. on school days. We understand that certain tutors will have restrictions, but sufficient availability is needed to cater to any students that you take on. This should be thought of when bidding on a new student.