Note: We have changed the format for our WIP of the Week series. To date, WIP of the Week briefs were only available to Spend Matters PRO members. Going forward, we will publish the WIP of the Week as a snapshot public post accessible to all readers. From time to time, we will select a key WIP to cover in more detail in a brief available only to PRO subscribers.
eYeka, based in Paris and founded in 2006, is a creative crowd contest platform specializing in brand marketing. It has also been described as “an online co-creation platform providing marketing and innovation accelerating solutions for brands.”
In effect, the eYeka platform enables big brand companies to engage a crowd of individuals in a contest format. A request for creative outputs — with an award payout amount — is distributed to a crowd of so-called “creators,” whose submissions can be selected and purchased by the client company. Creative output types include animation, creative writing, graphic design, illustrations, label and package design, photography, script writing and video.
Unlike small graphic output platforms such as 99designs, eYeka also provides an additional layer of some services that might be expected from an agency. The company says it guarantees quality results because its “team of strategic planners and creative directors will analyze and sharpen creators' submissions to deliver the best solution for you in the form of a report, a workshop or a shortlist of content.” Moreover, this eYeka team will also “propose actionable steps and professional facilitation” to help clients bring the ideas to market. For video contributions, the team, along with distribution partners, helps clients “measure and achieve content shareability, and manage [an] entire amplification campaign.”
This fits the provider’s slogan: “eYeka offers the power of the crowd with the expertise of an agency.”
Some additional facts about the eYeka:
- A broad range of big brand clients served have included Unilever, Procter & Gamble, Coca-Cola, Nestle, Danone, Hyundai, Microsoft, Samsung, adidas, Estée Lauder and Toyota.
- The platform now engages nearly 350,000 creators in more than 170 countries
- It appears that contest award payouts average about €6,000 and range from about €2,000 to tens of thousand euros.
- In nearly 1,000 contests, 104,996 ideas have been submitted and more than €6 million has been awarded in prizes (that is, what is paid to creators, not total client spend).
- The company has raised more than $9 million in private equity; the last round was in 2010, likely indicating that the privately-held company has become profitable (though revenue is unknown).
All told, eYeka appears to be a WIP worth noting in an enterprise market (for ideation crowdsourcing) that is growing at about 30% a year. To learn more about eYeka, visit its website.