Agency Newsletters

Flash Report @ AgencyFinder - October 31, 2007

 CONTENTS:

1. Agency New Business Rating System
2. Best Practices - Agency Search Agreements
3. Top 10 Lies PR Firms Tell Their Clients

AGENCY NEW BUSINESS RATING SYSTEM

What's your score? What's your rank? What does this mean to an advertiser? More specifically, what's your AgencyFinder (AF) Power Index (API)? And what does it mean?

The number itself can be found in multiple locations. It's on your Authorized Agency Confidential Report #13 at: www.agencyfinder.com/agencies/secure/ It's on the Authorized Agency Client Version Report #14 at the same link. It's on the client's green cell spreadsheet display at the End of Database Search; it's contained in the pop-up reports adjacent to that green cell display; and finally, it's on the Authorized Agency Report we provide to clients as they begin final selections (that's the client version of what you see at #14).

It's been a long time coming (first announced to agencies in early 2005), but it's in response to client requests for a tool to make some early, but well-founded cuts to the candidate list. Taking our direction from client survey results and a blue-ribbon panel, we created a real-time algorithm that scores and ranks each agency in the database.

In a nutshell, a Perfect Score = 100. This API algorithm reflects the completeness of the agency data file while not discriminating between large, mid-size and small agencies with regard to capitalized billings, employee counts, number of offices, etc. Missing data, missing or incomplete essays and case histories are subtractive. The algorithm also reflects the agency’s historical record on invitation responsiveness, process compliance and fiscal responsibility. The algorithm makes no representation as to agency creative capabilities or the potential for "great chemistry."

Read about it at: http://www.agencyfinder.com/power2-index.shtml There's still time to make positive revisions to improve your score.

BEST PRACTICES - AGENCY SEARCH AGREEMENTS

A recently published AAAA position paper has introduced an interesting concept that agencies are probably rooting for; whether clients are as receptive remains to be seen. The paper contains the language "The AAAA recommends that member agencies execute new business agreements with client prospects at the beginning of every agency search." The portion that is both interesting, and some say far-reaching, is that portion titled "Reimbursement Covering Agency Participation and Expenses." The text continues: