Crowdsourced Advertising: Difference between revisions
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"I've always believed that the field of advertising is especially fertile ground for [[Crowdsourcing]] applications: the formats (short video snippets, one-page images, etc.) often lend themselves to amateur efforts and in many cases consumers have a much better sense of how to improve a brand's appeal than do Madison Ave executives. It goes without saying that I'm hardly the only one making this observation. Advertising was one of the first fields to put the crowd to work, and as such the models are reaching a degree of maturity we're not seeing in other fields." | "I've always believed that the field of advertising is especially fertile ground for [[Crowdsourcing]] applications: the formats (short video snippets, one-page images, etc.) often lend themselves to amateur efforts and in many cases consumers have a much better sense of how to improve a brand's appeal than do Madison Ave executives. It goes without saying that I'm hardly the only one making this observation. Advertising was one of the first fields to put the crowd to work, and as such the models are reaching a degree of maturity we're not seeing in other fields." | ||
(http://crowdsourcing.typepad.com/cs/advertising/index.html) | (http://crowdsourcing.typepad.com/cs/advertising/index.html) | ||
=Examples= | |||
Examples are monitored in this section of the crowdsourcing blog at | Examples are monitored in this section of the crowdsourcing blog at | ||
http://crowdsourcing.typepad.com/cs/advertising/index.html | http://crowdsourcing.typepad.com/cs/advertising/index.html | ||
Emma Johnson: | |||
"Mervis Diamond Importers, a third-generation chain of four jewelry stores in the Washington, D.C., area, '''employed crowdsourcing to generate a series of successful newspaper advertisements with the help of crowdsourcing facilitator''' Genius Rocket. For a $500 fee, Jonathan Mervis sent out a query looking for one-line ad copy to accompany the front page of the local edition of satirical newspaper The Onion, which is popular with young adults. Genius Rocket publicized the contest, and Mervis spread the word through his company's blog and his own contacts. | |||
The query promised to select between five and 15 responses and award $100 to each. | |||
The query netted more than 500 responses, many of which were outstanding, Mervis says. He personally read all of them and wrote checks to 10 entrants, which were "brilliant" and many of which are often quoted by customers in his store and strangers on the street. Standouts include, "She likes the Beatles, but she loves the Stones," and "Conflict-free diamonds for a conflict-free bedroom." | |||
"This doesn't even compare with working with my usual ad agency," Mervis says. "If I just sit down with my agency to discuss an ad in The Onion, it costs me $1,000 and it doesn't get me 500 options, it only gets me two or three. Often I don't really love those two or three, but I don't want to pay for more so I just go for it." | |||
He says the return on investment is tough to calculate, but he plans to launch more crowdsourcing queries. The time and monetary investment were minimal, quality of responses phenomenal, and the ability to control the creative process rewarding and productive, he says. "It's almost like a free shot." | |||
Tips include giving potential responders lots of information about your company, the type of responses that you're looking for, and your target audience. Also be careful to attach an appropriate fee. Mervis sponsored a second crowdsourcing competition for an online video advertisement he hoped would go viral. The eight responses were so-so, and Mervis wonders if the $1,000 reward was too small to attract top talent. | |||
"What if I doubled the reward money? Would I get double the number of good videos?" he asks. "That's the thing: There are no statistics to support any of this." | |||
Low budget? No budget? Doesn't matter. With the right choice of crowdsourcing venue and the proper incentive, even a small company can achieve ad agency-like results. Open innovation may just level the playing field." | |||
(http://www.msnbc.msn.com/id/29549600/) | |||
=More Information= | |||
#[[Crowdsourcing]] | |||
Revision as of 04:45, 12 March 2009
Description
"I've always believed that the field of advertising is especially fertile ground for Crowdsourcing applications: the formats (short video snippets, one-page images, etc.) often lend themselves to amateur efforts and in many cases consumers have a much better sense of how to improve a brand's appeal than do Madison Ave executives. It goes without saying that I'm hardly the only one making this observation. Advertising was one of the first fields to put the crowd to work, and as such the models are reaching a degree of maturity we're not seeing in other fields." (http://crowdsourcing.typepad.com/cs/advertising/index.html)
Examples
Examples are monitored in this section of the crowdsourcing blog at http://crowdsourcing.typepad.com/cs/advertising/index.html
Emma Johnson:
"Mervis Diamond Importers, a third-generation chain of four jewelry stores in the Washington, D.C., area, employed crowdsourcing to generate a series of successful newspaper advertisements with the help of crowdsourcing facilitator Genius Rocket. For a $500 fee, Jonathan Mervis sent out a query looking for one-line ad copy to accompany the front page of the local edition of satirical newspaper The Onion, which is popular with young adults. Genius Rocket publicized the contest, and Mervis spread the word through his company's blog and his own contacts.
The query promised to select between five and 15 responses and award $100 to each.
The query netted more than 500 responses, many of which were outstanding, Mervis says. He personally read all of them and wrote checks to 10 entrants, which were "brilliant" and many of which are often quoted by customers in his store and strangers on the street. Standouts include, "She likes the Beatles, but she loves the Stones," and "Conflict-free diamonds for a conflict-free bedroom."
"This doesn't even compare with working with my usual ad agency," Mervis says. "If I just sit down with my agency to discuss an ad in The Onion, it costs me $1,000 and it doesn't get me 500 options, it only gets me two or three. Often I don't really love those two or three, but I don't want to pay for more so I just go for it."
He says the return on investment is tough to calculate, but he plans to launch more crowdsourcing queries. The time and monetary investment were minimal, quality of responses phenomenal, and the ability to control the creative process rewarding and productive, he says. "It's almost like a free shot."
Tips include giving potential responders lots of information about your company, the type of responses that you're looking for, and your target audience. Also be careful to attach an appropriate fee. Mervis sponsored a second crowdsourcing competition for an online video advertisement he hoped would go viral. The eight responses were so-so, and Mervis wonders if the $1,000 reward was too small to attract top talent.
"What if I doubled the reward money? Would I get double the number of good videos?" he asks. "That's the thing: There are no statistics to support any of this."
Low budget? No budget? Doesn't matter. With the right choice of crowdsourcing venue and the proper incentive, even a small company can achieve ad agency-like results. Open innovation may just level the playing field." (http://www.msnbc.msn.com/id/29549600/)