March 4,2008 — AgencyFinder Launches First Industry Agency Rating Index
RICHMOND, VA (PRIME NEWSWIRE) — Clients conducting an agency search have a new, sophisticated tool to better qualify prospects in the agency search and selection process. Business Partnering International’s agencyfinder.com, the world’s largest on line client/agency matchmaker, has announced its launch of the AgencyFinder Power Index(tm) (AFPI). The index provides searchers (clients and search consultants) with an objective measure of every registered agency’s “readiness” for new business.
“Ensuring the best possible match between agencies and clients has taken another leap forward,” says Charles G. Meyst, Chairman of BPI. “One of our on-going goals continues to be to reduce the guesswork in the agency search process. We believe the most prepared agencies deserve the opportunity to land the right client. Our AFPI rating will communicate an agency’s responsiveness to information requests, the completeness of its on line profile and interest in working within the structure of the AgencyFinder new business process,” Meyst added.
Mathematical Formula Measures New Business Readiness
“For more than a decade, our objective methodology of pairing up marketers with service firms has allowed clients to compare prospective agencies on nearly 500 different characteristics without relying on brand names or reputations. AgencyFinder provides a valid and fair way to create a short list for a search where every choice is a winner,” Meyst explains. “But now, we’ve created another indicator for clients to consider.”
“The AFPI uses a proprietary mathematical formula that measures registered agencies on certain criteria within the AgencyFinder database. Clients have told us they do not have time to hunt down certain information, case studies, or determine fiscal responsibility in the search process,” says Meyst. “The AFPI essentially rates each of our registered agencies on the completeness of their files, among other factors, which results in a rating. The higher the rating (a perfect score is 100), the more we can assure the client that the agency has provided thoroughly prepared and up-to-date information to search against. Since the AFPI is a real-time computation, anything the agency does to improve its record is reflected immediately.”
A power rating score also continuously reflects the agency’s historical record on invitation responsiveness, process compliance and fiscal responsibility.
Rankings vs. Ratings
“There are a number of industry rankings that measure agencies’ capitalized billings, work force, or number of offices, but clients are telling us what matters more is whether a prospective agency has actual expertise, reliability and fiscal responsibility relative to their needs. There have been countless times a client will develop a preliminary list of prospective agencies, only to find that critical information is missing from an agency’s data file. They simply do not have time to launch an investigation to find missing case studies, essays or other pertinent information.
“Now a client with a list of agency prospects can consider the AFPI ranking as an indicator that the agency has provided enough information for the client to conduct a fair and comprehensive preliminary evaluation as part of their initial due diligence.
“We want to make sure all of our agencies have an excellent chance of landing new business and are in good standing,” explains Meyst. “The AFPI algorithm reflects the completeness of the agency data file while not discriminating between large, mid-size and small agencies with regard to capitalized billings, or employee counts.
“It’s a matter of trust,” adds Meyst, an ad industry business development authority but seldom-mentioned degree-holder in mechanical engineering who developed the formula. “The AFPI allows clients and agencies to participate in a search process where each is confident that each party has passed muster with AgencyFinder standards.”
About AgencyFinder – AgencyFinder and its companion web site, agencyfinder.com, is a service of Business Partnering, Int. (BPI), a Virginia corporation founded in February of 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 to be eligible to participate in reviews.
The AgencyFinder logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3303
CONTACT: B & L Public Relations
563-359-8654 Ext. 101