Is Crowdsourcing a Threat to Ad Agencies?
Interview with Victors and Spoils' John Winsor
Brent Hodgins of Mirren recently interviewed John Winsor of Victors and Spoils, which calls itself the "The world's first creative (ad) agency built on crowdsourcing principles." John is a
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In the era of seismic change now occurring on Madison Avenue, ad agencies are starting to strap on an extra seat belt. There is a lot of talk about revamping traditional ad agency models, e.g., digital, hybrid, tradigital or simply, creation of the “new agency”. Traditional agencies are pushed to their limits by the explosion of digital and social media marketing projects as clients demand more. Agency compensation models fortified with high overhead are under pressure since it isn’t easy for a large agency to monetize the creation of a Twitter background page or Facebook fan page. This leads us to the need for a compensation model that reflects activity-based pricing delivered more efficiently. For new ad agency start-ups, the answer may be what we call the “5th Model”. This is another step in the long evolution of ad agencies adapting to changing market conditions for well over 100 years.
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Agencies have to start becoming less transactional and far more collaborative, engaging with important stakeholders in the creative process, especially the consumers. They must also approach brand-guardianship from a democratic standpoint. If agencies treat brand consumers as brand partners, no one will feel threatened. When used for the right reasons (transparency is critical) crowdsourcing enables consumers to join the brand conversation and to take pride in shared ownership in a way that no money can buy
Traditional advertising agencies criticize crowd-sourcing. They argue that it is just a ruse for getting speculative work cheap. Brick-and-mortar agencies say they sell relationships and the ability to gain a deep understanding of their clients’ products, services, industries and competition; all necessary to develop campaigns that have lasting effect. Take the rules to the Doritos contest, which give no real details about the target audience, product or strategy.
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There is no question that there is a huge “crowd” of talented people on the streets, most of them victims of downsizing in the industry. My fear that this new trend is not necessarily about getting the best idea, but getting it for the least amount of money. You could argue that devaluation of services agencies provide for clients is one of the reasons all these folks are available for crowdsourcing in the first place. So yes, crowdsourcing is potentially a huge threat, and not just to ad agencies.