The Marketing mix of oDesk analyses the 4Ps of oDesk, including the Product, Price, Place, and Promotions. Elance-oDesk is currently referred to as Upwork. It is a private company associated with the online industry and is an online portal that connects talent with business quickly. ODesk was founded in 2003 by its co-founders, Stratis Karamanlakis and Odysseas Tsatalos. It merged with Elance to form Elance-oDesk in 2013 and was later in the year 2015 rebranded to its present name wo,rk. Some of its competitors are as follows-
- Awesome web
- Type: Online marketplace
- Industry: Freelancing
- Founded: 2003
- Founders: Odysseas Tsatalos and Stratis Karamanlakis
- Headquarters: San Francisco, California, United States
- Area served: Worldwide
- Current CEO: Hayden Brown
- Number of employees: Over 1,200
- Major products: Odesk platform
Table of Contents
Odesk Product Strategy
Elance- oDesk is a freelancing platform for individual professionals and business entities to collaborate and connect easily. It gives professionals the freedom to work at a suitable time and place. The company’s gateway is used by clients to hire, interview, and work with agencies and freelancers.
It is being used as a real-time platform for chatting and is very useful as it saves a lot of time that would usually be spent on hiring and finding required freelancers. Hiring takes place for jobs in software and app development, administrative support, business services, data science and engineering, and creative services that include graphic writing, branding, and designing. To ensure fair billing by freelancers for jobs on an hourly basis, the portal offers a time-sheet application that helps track time and even takes screenshots when a freelancer is busy working.
Odesk had been rebranded as Upwork. Upwork is a global freelancing platform that connects consumers and businesses with independent professionals and agencies for remote work. The product mix of Upwork (formerly Odesk) includes a range of services aimed at facilitating this connection across various categories.
The new Product Mix of Odesk in 2023 is as follows (Source).
- Freelancer Services: Upwork’s primary offering is its vast pool of freelancers with diverse skill sets. These services include, but are not limited to, web and software development, creative and multimedia work, writing and content creation, sales and marketing, administrative support, customer service, and consulting.
- Agency Services: Apart from individual freelancers, Upwork also hosts agencies offering services. This suits larger projects or clients who prefer working with an established team rather than individual freelancers.
- Job Posting and Talent Search: Upwork provides a platform for businesses to post job listings and search for talent. This includes tools for creating job posts, setting project terms, and filtering through candidates based on skills, experience, and other criteria.
- Project Bidding System: The platform operates on a project bidding system where freelancers and agencies can submit proposals for jobs posted by clients. This system allows clients to review bids and select the best match for their project needs and budget.
- Communication and Collaboration Tools: Upwork offers various tools to facilitate communication and collaboration between clients and freelancers. This includes messaging systems, file sharing, and video conferencing capabilities.
- Time Tracking and Payment Processing: Upwork provides a time-tracking tool for hourly contracts that ensures accurate billing. The platform also handles invoicing and payment processing, offering various transfer methods and ensuring secure transactions.
- Upwork Pro and Enterprise Solutions: Upwork offers premium services for businesses seeking a more tailored experience. Upwork Pro provides access to top-tier freelancers and includes additional support from Upwork. At the same time, Upwork Enterprise offers customized solutions for large companies, including dedicated account management and enhanced matching technology.
- Educational and Support Resources: Upwork offers various resources, including educational content and support services, to help freelancers and clients make the most of the platform.
Odesk Place Strategy
oDesk has spread its network to include most countries in the global market. Its headquarters base is in San Francisco and Mountain View in California. oDesk is the world’s largest and biggest marketplace for freelancers, as nearly three million jobs are posted on this site annually. It has registered five million and twelve million clients and freelancers attached to its website.
Upwork has launched a mobile app for iOS and Android and an app used as a time-tracker for Linux, OSX, and Windows. oDesk has become an innovative platform, and its growth and reach have spread beyond geographical boundaries. It has a solid and talented workforce that includes independent individuals and connected employees to make it a better place.
- Global Online Platform: Upwork is an entirely online platform accessible to users worldwide. This virtual marketplace allows freelancers and clients from different countries and time zones to connect and collaborate seamlessly.
- User-Friendly Website and Mobile App: Upwork offers a user-friendly website and mobile app, ensuring easy access and convenience for freelancers and clients. These platforms facilitate smooth navigation, job searching, communication, and transaction processing.
- Cloud-Based Service Delivery: The platform’s services are entirely cloud-based, meaning that all interactions – from hiring to project management and payment – occur online. This approach eliminates geographical constraints and enables remote work from anywhere.
- 24/7 Accessibility: Given its digital nature, Upwork is accessible 24/7, allowing users to work, post jobs, submit proposals, and manage projects according to their schedules and time zones.
- Integrated Communication and Collaboration Tools: Upwork integrates various communication and collaboration tools within its platform. These tools, such as messaging, video calls, and file sharing, make it easier for clients and freelancers to collaborate remotely, regardless of their physical location.
Odesk Pricing Strategy
oDesk is a popular portal as nearly one-billion-dollar jobs are posted annually on its website. It is a pay service portal established for commercial usage. Initially, the company charged a flat 10% service fee for freelancers, but in 2016, on May 3rd, it changed its pricing policy to a variable plan cost of 5% to 20% as sliding service charges or fees.
Since June 21st, 2016, freelancers have paid a sliding service fee. It is dependent upon the total lifetime billings it has with every patron, with 20% billed to the client for the first 500 dollars related to all contracts, for 500.01 to 10,000 dollars, 10% of total billings, and 5% of all future total billings to clients who have exceeded 10,000-dollar mark. Clients pay 2.75% as processing fees per payment, whereas some are eligible to pay a flat monthly processing fee of just twenty-five dollars.
oDesk offers its users several payment options, like bank transfers, PayPal, and credit cards. It is also possible via Upwork’s escrow system as it transfers funds to its agents, customers, and freelancers after six days.
Upwork, a leading online platform for freelancers and clients, employs a nuanced pricing strategy to remain competitive while providing value to service providers and clients. Here’s an analysis of Upwork’s pricing strategy:
- Commission-Based Pricing for Freelancers: Upwork charges freelancers a sliding fee based on their lifetime billings with a specific client. This tiered commission structure encourages long-term relationships between freelancers and clients, as the fee decreases as earnings with each client increase.
- Client Service Fees: Clients are charged a service fee for using Upwork’s platform. This fee is typically a percentage of the total contract value. It’s designed to cover the operational costs of the platform and the services provided, like secure payment processing and dispute resolution.
- Premium Subscription Plans for Freelancers: Upwork offers optional premium subscription plans. These plans provide additional benefits, such as enhanced visibility in client searches, more proposal submissions, and detailed market insights. This tiered pricing offers freelancers flexibility to choose a plan based on their needs and goals.
- Upwork Pro and Enterprise Solutions: Upwork offers Pro and Enterprise solutions for businesses seeking a more tailored experience. These premium services include personalized assistance in finding top talent and managing projects. The pricing for these services varies based on the customization and support required.
- Flexible Project Pricing for Clients: Upwork allows clients to post projects hourly or at a fixed price. This flexibility enables clients to choose a pricing structure that best fits the scope and nature of their project, providing clarity and control over project costs.
- Connects Purchase System for Proposals: Freelancers on Upwork use “Connects” to submit job proposals. While a certain number of Connects are provided monthly, additional Connects can be purchased. This system moderates the number of proposals clients receive, ensuring quality and relevance.
- Transparent Pricing Information: Upwork maintains transparency in its pricing. Both freelancers and clients have access to clear information about fees, charges, and billing, which aids in setting expectations and fosters trust in the platform.
Odesk Promotion Strategy
oDesk has been able to create a distinctive place of its own. The company has adopted several marketing strategies to increase its brand visibility, maintain its position, and gain further markets. It has taken the help of various social media marketing platforms to gain brand awareness via LinkedIn, Facebook, Twitter, and other portals. The company also relies heavily on word-of-mouth publicity as one person recommends it to another, and the chain goes on. oDesk has received several accolades and awards for its works, including the Fastest Growing Innovator Award of Excellence in 2011 and Always on Global 250 Top Private Companies for 2011 and 2012.
Some Recent Video ads and Print ads for oDesk are:
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