Online marketing platform Trada, established in 2008, recently sealed a funding deal with top-level advertising distributing companies that sets it on course for another successful year of crowdsourcing marketing projects. Its lead investors, Foundry Group and Google Venture, seem keen to support the service as their combined investment this time exceeds their previous input by over $1million.
In the companyâ€™s own words; â€śA crowd of experts does online advertising for youâ€ť. Trada fits into the online advertising space by connecting small businesses with crowdsourced experts and designers. A company submits a monthly advertising budget for online search adverts - like those on Google and Yahoo - or on Facebook ads, and Trada finds a marketing team for their price, wherever they may be. The company benefits by not having to hire full time marketing staff or commission expensive agencies, two aspects that a small business cannot afford. The benefit for the crowd is steady work: many of the crowdsourced experts earn a full time wage, without the hassle of finding clients.
In addition to its crowdsourced marketers and its budget, the company itself is also growing steadily. It has tripled its total number of employees and its total budget from companies has multiplied by around seven times, all in one year. Companies are also seeing that they can put more faith in the abilities of the crowd as monthly budgets are increasing. Currently the largest monthly budget is $500,000, over ten times last yearâ€™s highest total.
Designers and marketing experts are encouraged to join the rapidly expanding crowd. The Facebook ads side of the business is still in its infancy but growing fast with over 200 people taking marketing jobs through the site already.
Above all this is a large-scale acceptance of crowdsourcing as a solution to the problems faced by small businesses; yet another area of business where crowdsourcing has become a proven method of streamlining processes in a way that benefits everyone involved.