How Crowdsourcing Can Help Agencies Lower Costs and Reimagine Their Business Models

In the days of Don Draper, agency life was different. Agencies had account men, creatives, and clients willing to pay a lot of money. Things have changed quite a bit since then.

When computers and the internet were added to the marketing mix, suddenly many agencies were fighting for their lives.

There are still heavy hitters in the agency world, but many of them have struggled to keep pace with innovation. Even smaller, more nimble agencies have found themselves in a position where managing overhead and declining client budgets is threatening their existence.

The truth is that agencies are spending so much time and so many resources on trying to keep up with the relentless pace of digital innovation that their overhead is ballooning while their revenue is eroding.

Companies, in the meantime, are playing Russian roulette with their brands by cobbling together piecemeal marketing through freelancers without any kind of strategic guidance.

Everyone loses in that scenario.

That’s where crowdsourcing can help.

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Maintaining an in-house creative staff is expensive and takes a lot of time. With the crowd, you get access to a creative pool many times larger than anything you could tap in-house, for a fraction of the cost. While strategy is still necessary to make sure the crowd is effectively utilized, it’s far less expensive to hire one strategist than four designers.

Now you might be wondering – why would an agency crowdsource design when it can leverage it’s internal design team instead?

The answer might surprise you.

Watch the video for four reasons why crowdsourcing represents an opportunity for agencies to reinvent themselves and their business.