As advertisers continue to ramp up new agency searches with billions at stake for ad agencies, Insider has spotlighted the role of search consultants who help decide which agencies will win the business.
With marketers expected to spend nearly $1 trillion on global advertising by 2024, finding the right agency to manage those dollars is critical.
That power over agencies’ fortunes and their role as gatekeepers has made these search and agency management consultants the subject of some fear and controversy among agencies — something that’s escalated in the pandemic.
Insider spoke with agency, consulting, and marketing execs about how the field operates and why some of these firms’ practices are coming under increasing scrutiny. MediaSense Co-founder and CEO, Graham Brown features – commenting on the need for independence:
“It’s so incongruous of our industry that people are allowed to give independent advice to one party and take money from another,” said Graham Brown, co-founder and CEO of search firm MediaSense, adding his firm doesn’t take money from agencies. “I don’t know why clients allow it. I know why agencies do it. It’s pay to play. But I don’t understand why it’s tolerated.”
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First featured on 14/05/2021