Today's economic climate is forcing more healthcare clients, like drug companies and hospitals, to rethink their financial relationships with marketing agencies. Add a down economy to declining drug sales and admissions, and therein lies more than enough reason for brand managers to rethink their marketing spend and the need for an agency of record. In pursuit of the more budget-friendly, project-based relationship, brand managers have to consider the risk of losing an enduring agency partner while still being responsible for making their numbers. Yet in a tough economy, even with the pressure of bottom-line accountability weighing on them, clients have the advantage of being able to cherry pick brand partners from the plethora of existing agencies to help them meet their goals. For the agency, this means contributing sound strategic and creative value to a given project, minus the commitment and incentive of a long-term relationship.
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