By Peter Levitan
There are 34 advertising agency search consultants listed below. There are surely many more when you add in local and part time consultants.
Savvy search consultants generally act as personal shoppers for larger advertisers trying to locate the perfect agency out of hundreds, even thousands, of specific agency options. It is estimated that about 10% to 15% of all searches use the services of a consultant (I am thinking about dollar volume not total agency searches.) I suspect that the number of consultant led pitches is well over 50% for clients that have large budgets, complicated accounts (think global ala Microsoft’s recent search) and now, highly specialized agency requirements.
SHOULD YOUR AGENCY CONTACT SEARCH CONSULTANTS?
Should your agency contact the search consultants on this list? Yes and no.
Here is the drill. Most of these consultants work for larger clients and they have hundreds of agencies to keep track of. They get lots of incoming from agencies every day — see the interviews below. Based on my 28 years of conversations with search consultants, I can tell you that most of the incoming agency information gets ignored even in a fast paced world where consultants need to keep abreast of the agency universe. Why? Agencies get ignored because most agencies do not really have a realistic reason to get on the consultant’s radar.
Realistic? Consultants are primarily interested in a core set of agency attributes. Obviously, they are looking for agencies that match their current searches. However, in general, any new agency (new to market or new to them) needs to have some distinctive attribute to get a consultant’s attention. That means having a good reason for these busy consultants to pay attention to you. What might that mean?
Here are some examples of what I would get my attention if I were a consultant:
Are you seriously creative (like really creative and can prove it?)
Have you been discovered by the trade press?
Can your agency handle really large, complex accounts?
Do you have international offices?
Did your team just leave a hot agency where you’all did famous work?
Do you have media planning and buying expertise?
Do you have demonstrable digital expertise? You can’t just say we do social media. Did you crack mobile advertising?
Do you have deep experience in an important client category?
Are you known for your strategic chops?
Is your name as ignore-free as Barton F. Graf 9000?
Get the picture?
The bottom line is that you need to think about what agency attributes will be of value to the consultant. Do you have some special sauce that a consultant needs to know about for their business and clients? Before you make any contact, please take the time to understand what search consultants look for.
For the full list, follow this link:
Note: All if not the majority of these consultants are hired by the client and paid by the client. They should never solicit agency payment to participate in a review nor should they charge for being in their database (if they have one). Payment from both sides is “double-dipping” and unethical. In order to afford these consultant fees, the client needs to be dealing with a significant budget and at that, will be looking for agencies with capitalized billings some 3 to 4 times that budget. In most cases, smaller agencies are wasting their time hoping for consideration.