Economic uncertainties for advertisers stir up new business activity for marketing firms
In the quest to form the ‘perfect union’ between advertiser and agency, a human touch works wonders
RICHMOND, Va., March 11, 2009 (GLOBE NEWSWIRE) — The global economic downturn that accelerated in the second half of 2008 created an increase in the number of advertisers looking to re-deploy their marketing budgets – and often replace their incumbent advertising agencies and PR firms in the process. But according to marketing matchmaker, AgencyFinder, the pace of the downturn and the resulting climate changes inside the clients’ businesses have made the search and selection process difficult to keep on track.
“We’ve always known that in spite of the increased sophistication of web site technology and automation, nothing beats the ‘human element’ of a friendly, knowledgeable voice on the phone and direct oversight of the search process,” explained AgencyFinder Chairman and CEO, Chuck Meyst. “With the rapid decline of the world’s economies, we’ve found clients here and in the UK relying on us more than ever to help them search and find the right marketing service firms based on their revised requirements.”
“Finding, evaluating and hiring the best advertising agency or PR firm for your business isn’t something you can just type into a search engine or look up in a phone book or on-line directory. There’s a methodology to it that produces the best results every time,” continued Mr. Meyst. We’ve honed that methodology over the past twelve years – and it requires a live human being’s participation to make it work. Our consultants walk through that process with advertisers and marketing firms to make sure they understand how and why it works. And when you’ve conducted hundreds of reviews a year and thousands over twelve years, you can make a pretty convincing argument.”
The firm’s offices – based in Richmond (VA) and London – saw a twenty-three percent increase in initiated search activity in 2008 over 2007, but the number of completed searches stayed about the same. “Quite frankly, I’m not sure we would have seen the number of completed searches remain constant if we didn’t have personal interactions with every client,” said Mr. Meyst.
AgencyFinder assisted in the placement of over $278 million in new business with advertising agencies and PR firms in the U.S. and UK last year. The average account size was slightly less than $1 million.
About AgencyFinder – AgencyFinder and its companion web sites, agencyfinder.com and agencyfinder.eu, is a service of Business Partnering, Int. (BPI), a Virginia corporation founded in February 1997. The service is unique in its match-making process for pairing advertising, public relations and marketing agencies with clients and is intended for use by companies seeking agency support for projects, campaigns or long-term relationships. Searching is free to marketers and supported with complimentary search consulting advice (telephone and on-site consultations) provided by BPI’s executive staff. Advertising agencies and public relations firms (right-sized for budgets less than $100,000 to more than $100 million) pay an annual registration fee to be in the on-line database and eligible to participate in reviews.
