One of the first things you need to do when hiring is establish your company’s hiring brand. You want to have authentic branding that represents your true values so that you attract the right candidates. This branding should be present in all of your hiring communications. This is the marketing part of hiring.
During the interview process there are sales activities going on for both sides. You start out by letting the candidate sell themselves to you. Once you realize the candidate may be a good one, then you need to start selling your company to the candidate and why they should love working for you.
The entire hiring process gives you an opportunity to sell your company by responding quickly and professionally to candidates. During the offer process, you should be continuing to sell yourself to the candidate.
Even if the candidate declines the offer you should be continuing to sell and market your company by graciously letting the candidate know that you would gladly welcome an application from them again in the future.
Start approaching hiring as a Marketing and Sales activity and you will see better quality candidates over time.