innocentive

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crowdsourcing-power

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For every hour or dollar that you spend on your business, how do you maximize the mileage from that investment?

If you are running an online business or starting a new one, chances are that you do not have unlimited capital. In order to succeed in this environment, you realize that you can’t compromise on the quality of you offering. Welcome to the world of crowdsourcing.

For every investment you make, you should evaluate wether you could have reached a better outcome by oudsourcing activity.

Elance has worked to expand their offerings, integrating some features to create more than a job site and more of a work tool. She creates a remote workspace for freelance workers to provide them with additional incentive to continue using the site after the job match has been made. The features are meant to help service providers manage a part of their work through Elance and give buyer and service provider more ways to connect and transact business.

Elance use many objectives to help skilled freelancers reach international markets. Although crowdsourcing is regarded as effective and has a benefit:

· Crowdsourcing cost: now even businesses with a moderate budget can brand their identity without fear of going over budget and unaffordable costs.

· No prize money guarantee: Elance now offers an escrow account so that once a buyer and seller match up, the buyer can place the payment into an escrow account via elance with the intent to assuage the provider’s mind that the money is there upon completion of the project. Actually designers worry that they might not get paid even after their design has been selected as the “winning design”

· All that free labor: designers have to demonstrate their expertise somewhere to someone before they can get paid.

· Wasted time and effort: crowdsourcing gives the designers gives the designers an opportunity to build an impressive resume and gives them an understanding of how they can work for clients. All the designs created can be added in their portfolio for future reference.

· No boundaries: even the small businesses with meager budgets can benefit from the large talent pool and brand their identity.

· Expert insight required: active participation and feedback from the contest holder’s end will help designers acquire a better understand of the business and so they will be able to create accordingly.

· Design with mixed messages: the designers should have a brief about their brand and what the company is all about to obtain good results.

Positive:

§ Elance offer an integrated chat function and a click to call function that allows the buyer to place a call to the provider for free.

§ Elance has create her own “remote work system”

§ She offers dispute assistance for buyer and provider.

§ She implemented a time tracking widget that a provider can apply to a deliverable , add notes and attach files.

§ She offers an archive of interactions and communications between buyer and provider.

§ She contains a wealth of well paying, high quality writing jobs for established web content developers.

§ Get the work done for cheap.

§ Provides more value for your money.

§ Great marketing tool.

Negative:

§ Ideas are open.

§ Disputes will be there and hence can’t be treated as a business model.

§ No confidentially.

§ Poor quality entries.

§ Wrong directions.

§ Popularity misleads.

§ Stolen or recycled names.

§ Missing the best talent.

§ Hidden costs.

Finally, Elance could be a good place for a novice to find their first jobs, plus the site provides some extras to help manage those jobs. Although who can understand a business and it’s vision than the business holder himself? Still there are many who preach that contest holders do not know what they want out of design and by entering a contest they erode the company’s brand. Wouldn’t business owners know and understand their business better than anyone else? I suppose the greatest advantage or disadvantage of crowdsourcing is that it has essentially demolished the monopoly of the few and created an equal opportunity playing field for everyone.

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Yahoo Launches Low-Cost Music Service

Subscription service undercuts competing services from RealNetworks and Napster.

Switching from a traditional record store to a global online music library

What is long tail?

Long tail in entertainment is simply making everything available, providing alternatives, and segmenting the market in a way to shift from mass marketing into a customized marketing.

Yahoo has launched a version of Yahoo Music Unlimited, a new, aggressively-priced online music subscription service.

By doing that, Yahoo is trying to give a huge variety of songs, Hits and Misses in the same time!

Why? Simply because there are other tastes in the market pie! And these tastes will eventually develop and attract its target market where these customers will show loyalty to the site. Imagine entering to a supermarket and you don’t find what you are looking for, you will never step into that shop anymore!

RULE NUMBER 1: MAKE EVERYTHING AVAILABLE

How? Again, simply by offering a balance between supply and demand. All around the world there is a lack of supply. And, that is the difference between online and offline business. In e-business, there are no shelves spaces to take into consideration. There is equivalent data entry and tracks will be downloaded on demand.

Not to forget that yahoo is concentrating on the genre of each song in order to suggest other unknown alternatives / misses. So, yahoo will outcome today’s traditional marketing that focuses on rated albums and songs.

By doing that, yahoo will be eliminating the 80-20 rule also known as Pareto’s principle and creating fair distribution between hits and misses.

RULE NUMBER 2: LOWER THE PRICE

Less costs ............. Less prices

For an introductory price of $59.88 a year, or $6.99 when paid monthly, the service will give users access to over 1 million songs from all major record labels and most independent labels.

With its pricing, Yahoo is undercutting rivals RealNetworks and Napster, which both charge about $15 a month for comparable services. Apple Computer's ITunes, the biggest online music store, doesn't offer subscriptions but charges users per song or album download.

Yahoo Music Unlimited also will offer songs for purchase for $0.99 a track. Subscribers will be able to purchase and permanently own tracks for $0.79 a piece. Purchased songs can be burned onto a CD, transferred to portable devices, and used on a total of five PCs, according to Yahoo.

RULE NUMBER 3: HELP ME FIND IT

Yahoo will offer tracks in Microsoft's Windows Media Audio (WMA) format encoded at 192 kbps, a high quality when compared with other services. Users can also transfer music to digital media players that support Microsoft's latest digital rights management (DRM) technology.

Yahoo Music Unlimited includes the Yahoo Music Engine, software that will let users manage their music collection. Users will also be able to share their music with others via Yahoo Messenger and will get access to Yahoo's LAUNCHcast online radio service,.

And as we have mentioned before, yahoo is using e-marketing to help customers find the new provided service, these e-marketing contain; providing external links and suggesting the site as an alternative, using main search engines on the net, and targeting and positioning groups with similar activities especially on facebook, youtube, tagged, and many others.

Of course not to forget the licensed agreements obtained from the artists and record companies to avoid conflicts and not to end up like mp3.com

Finally!

We conclude that new modern technology and the internet are making the world more globalized. And is eliminating border in a way that everyone in concerned. And the long tail concept represent a deep look and explain precisely that reaching niche market will eventually create a new market with tons of opportunities.

Ref: T3 magazine march 2010\ yahoo.com

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PEPSI

1- Campaign name: HIT REFRESH CAMPAIGN

Customer: PEPSIco

Agency EYEcorp

Focus (target market): AUSTRALIA (YOUTH)

PEPSIco is one of the world’s leading Soda drinks manufacturers and distributors.

In this article, Pepsi is launching its new HIT REFRESH CAMPAIGN in the main cities of Australia.

Since the largest consumers of Pepsi are aged between 15 and 30 years old according to Pepsi Project Report. (link:www.docstoc.com)

The main idea is to reach as many young people as they can. “Partnership with MTV”, ”online Marketing.”

2- As any marketing campaign, the objectives are to increase sales figures.

Yet, Pepsi is performing a huge shift in Marketing Concepts.

Pepsi is moving from old traditional ADVERTISING to a new digital world of FULL PACK MARKETING CAMPAIGN.

Pepsi are introducing NEW LOOK PEPSI TRADEMARK across four brands:

· Pepsi

· Pepsi Max

· Pepsi Light

· Pepsi Light caffeine free

And, Australia is the first country to put new look products on its Retailers Shelves.

3- As we mentioned previously, Pepsi is about innovation. The leading strategies in marketing have been introduced by Pepsico over years.

Today once again Pepsi is leading the market by shifting into a DIGITAL WORLD of new tradition.

Target Market: Youth.

How to attract youth????

a) By using PARTNRSHIP WITH MTV, the world’s best music channel, Pepsi is reaching a huge number of young people.

TV commercials appearing on MTV will be distributed as following:

1 ad of 60 sec.

2 ads of 30 sec.

2 ads of 15 sec.

b) Besides TV commercials, and since the internet has become the most efficient media to attract people and have natural ability to segment every group by itself (common interests)

Ex: FACEBOOK.

Pepsi are using ONLINE MARKETING through Hit Refresh Hunting Competitions, where the participants are obliged to use either Twitter or Facebook.

c) LARGE BILLBOARDS CAMPAIGN. Outdoor media is still the most common advertising tool and it is known for the awareness that creates. Especially the way Pepsi is performing it and managing it.

Especially when dealing with EYEcorp Agency, which is able to reach 13 million drivers per week (according to the article)

LARGE BILLBOARDS=HIGH PRESTIGE FOR THE BRAND

MAIN CITIES CONCENTRATION=HIGH AWARENESS

d) OTHER TOOLS:

IN-STORE MEDIA

IN-STORE PROMOTIONS

PRODUCT SAMPLING

BUS SHELTERS

STREET FURNITURES

BUS SIDES

BUS INTERIORS

Finally, I conclude with:

THIS IS BIG, NEW, GETTING A LOT OF ATTENTION. IT IS IMPACTFUL; IT IS INNOVATIVE

Cheryl Damian: Director in the Cause Branding at Cone.)