Sluggish Economy Provides Opportunities for Advertising Agencies, Report Reveals

PRLog (Press Release) - Apr 22, 2008 -
Sluggish Economy Provides Opportunities for Advertising Agencies, Report Reveals
RSW Releases 2008 Economic Outlook Survey: Proactive Development Program Key to New Opportunities

Cincinnati, OH — April 22, 2008 – Despite the chatter regarding impending or current recession, marketers don’t seem to be in any big hurry to make changes to their agency rosters, that according to the economic outlook survey commissioned and released today by agency lead generation and sales firm Reardon Smith Whittaker. The outsourced lead generator finds that the vast majority of respondents, 60 percent, plan to stay with their existing firm.

But, this doesn’t mean stagnation for smart agency leaders, according to RSW US managing director Mark Sneider, who says now may be the best time for agencies to expand. “Inertia can spell opportunity,” Sneider says. "Yes, while 60 percent of all respondents state they were generally unlikely to look for a new agency in 2008, companies do not seem to have a strong loyalty to the firms they currently use. More than half of the marketing decision makers polled utilize three or more agencies to satisfy their marketing needs, suggesting that this might be a perfect opportunity for agencies to step up and show how they can help companies turn things around for the better."

He adds that the onus to do so lies with the agency, since many marketers don’t seem willing to get too aggressive in seeking out new agency partners, agencies must get more aggressive themselves. Sneider advises that agency leaders have to proactively communicate their benefits to prospects, stay in front of them with value-added insights, and be ready to take the “project” to showcase how they can help turn around their slower performing business.

“Agencies with balanced and consistent new business development programs in place will put them in the best position for success,” he explains. “Having the internal resources or the right outside partner in place now to reach prospects, will place them ahead of the curve. By utilizing a proven and established process to breakthrough to prospects, agencies can focus on what matters most – delivering creative ideas and sound business strategy to win the day.

Comprehensive results and analysis from the survey can be found at www.rswus.com.

A Client’s Perspective on Economic Conditions: 2008 was completed by 202 marketing executives and decision makers from across the United States during March 2008. This study was commissioned by Reardon Smith Whittaker. The sample came from a database of decision makers each from companies ranging from $50m to $2B in size. Some of the largest industries represented included: packaged goods, manufacturing/distribution, healthcare, retail, and travel and tourism.


Media Contact:
Rodger Roeser, APR
Eisen Management Group
859-291-4302
rroeser@eisenmanagementgroup.com