Stop Telling Older Women to Step Aside
The check is in the mail.
The Advertising Agency world is changing.
The Association of National Advertisers released the results of a member survey yesterday that revealed a sobering statistic for shops: Payment terms jumped to 58 days last year, up from 46 in 2013, and agencies are increasingly losing leverage to get paid faster.
“One reason is that agencies have less clout as more marketers move to project work, and move away from retainers,” writes E.J. Schultz. “There is a perspective that marketers can push harder for extended payment terms for project work, especially with new agencies, because many agencies will accept such terms to get a foot in the door.”
According to the report, which surveyed 109 ANA members, only research vendors take longer to get paid—60 days—while production companies and broadcasters had average payment terms of 45 days and 41 days, respectively.
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Would you do this?