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Advertising Agencies facing a new threat - late payments

June 17, 2008

Evidently the new complaint that is reaching epic proportions is late payments. If this isn’t a recession then nothing is.

In a recent survey we have found that late payments are becoming the #1 issue regarding the relationship between Advertising Agencies and their clients. It’s something that is really hitting small and mid-sized firms the Ad Agencies with under 100 employees.

Last year at this time the issue was #4 in terms of ‘concerns’ now it’s #1, even bigger now than creative and strategy. In fact the issues have completely switched in terms of what Agency concerns are.

For 2007 it was

1 - Creative
2 - Strategy
3 - budget allocation
4 - Payment

For 2008 it’s

1 - Payment
2 - budget allocation
3 - strategy
4 - creative

If you want to be included on the next phone / e-mail survey, please contact us.

The questions you will be asked are the following:

1 - The size of your agency
2 - In order what is your greatest concern with existing clients
A - Payment
B - strategy
C - budget allocation
D - creative

It’s somewhat of an informal sample, since currently it’s just under 100 Agency owners or executives asked.. however we expect to grow this list.

Written by TheFounder · Filed Under Advertising Agency News 


Comments

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