Despite the uncertain economic and media environment, advertisers are continuing to shop around for their agencies, particularly in Europe.
According to new figures from
AdForum, the number searches for new agencies in Europe was up by 15% quarter on quarter in Q1 2003.
The Index of Agency Search Activity also showed that client reviews in the US rose by 10% between Q4 2002 and the first quarter of this year. Year on year, new agency searches were up 11% in Europe, but down by 7% in the US.
“It was apparent that advertisers were wary of making any changes at the end of last year,” says Rob Drasin, vice president of sales for AdForum.
“However, since January, the level of search activity has increased, indicating both the necessity of spending new budgets as well as their will to move forward. Contrary to what was so often announced and expected, the current situation has not created of much of wait and see attitude among advertisers,” he says.
