for a new on-premise drinking ritual
London (PRWEB) March 17, 2009
Today, Idea Bounty, a website that allows brands to tap the collective intelligence of creatives all over the world, announced that Gary Willmott, of creative production company Urbian, won $3,000 for his idea to create a branded BMW activation. While other companies have "crowdsourced" advertising ideas in the past like tag lines or design work, Idea Bounty is the first to award prize money for an idea alone - no finished materials are required.
Idea Bounty is currently asking creatives to submit their best ideas "for a new on-premise drinking ritual"for a global beverage brand. To participate, simply register on http://www.ideabounty.com, read more about the brief, and send in your most original idea. The winner will receive $5,000, the largest bounty offered to date.
Currently, Idea Bounty has over 2,000 registered participants and has hosted three successful briefs since it launched in November 2008. First National Bank, Levi's® and BMW have all worked with Idea Bounty to solicit marketing and advertising ideas from a diverse group of thinkers based in over 20 different countries. More than 700 ideas have been submitted, with three lucky winners so far. Idea Bounty has a 100% success rate with all brands rewarding a winning idea:
- First National Bank - asked for ideas to convert more Premium banking clients to Online Banking
- Levi's - asked for ideas to create an innovative music festival activation that adds value to the music lovers experience
- BMW - asked for ideas to create a branded BMW activation and mechanic that would entice potential new drivers to opt in for future BMW communication
"There's a saying that goes something like: 'nobody is smarter than everybody.' With that in mind, Idea Bounty's proposition of using the community to answer a brief that has an infinite number of possible solutions made a lot of sense to us," said Scott Gray, Interactive Marketing Manager at BMW South Africa. "BMW is constantly seeking out new ideas that move the business and brand forward, this is the only platform that I know of that allows us to do this while making sure that the best ideas are rewarded."
Brands benefit from Idea Bounty because they are able to actively engage with the global creative community. For a comparatively small sum, these companies can mobilize a virtual team of thousands to brainstorm creative ideas and choose the one they like best. Given current economic conditions, this approach to idea crowdsourcing makes sense for the companies and the participants who have the chance to earn money with no long term engagement.
"Idea Bounty is a new way to think about the traditional model for purchasing creative output," said Nic Ray, at Idea Bounty. "We are able to bring together companies that are looking for disruptive, new ideas and some of the brightest minds in the creative world. It's a great way for a brand to get value for money by engaging a connected audience to solve communication and brand problems with big ideas, and for individuals to be rewarded for their creative thinking."
Clients also leverage the brief itself as a branding opportunity and way to directly connect with a highly motivated, influential, creative community. Clients are finding valuable PR return has been an unexpected benefit, with crowdsourcing being an innovative way of engaging with customers. Add to this the fact that the Idea Bounty model carries no financial risk for clients (they only pay to use the service if they purchase an idea), and Idea Bounty represents a financially smart communication asset.