Foreign advertising agencies becoming popular in Finland

A quarter of Finnish companies are already using foreign advertising agencies to market their products and services.

There are good business prospects for foreign advertising agencies working with Finnish companies. A new survey by the Association of Finnish Advertisers reveals that a quarter of Finnish companies are already using foreign advertising agencies and half of those who are not are interested in doing so.

The willingness of the Finnish companies to use foreign advertising agencies means that the Finnish agencies will face stiffer competition in the future, according to Ritva Hanski-Pitkäkoski, managing director of the Association of Finnish Advertisers.

According to the survey, advertisers would like the agencies to improve their understanding of the client’s business, be better strategic partners and improve the transparency of their invoicing. The survey shows that the most common invoicing model is a set fee (38%), followed by a time-based fee (27%), and the partly results-based fee (6%). The hourly rate for agencies is 150 euros per hour, and 120 euros per hour for copywriters and art directors.

The Association of Finnish Advertisers has about 400 member companies of which 75 answered the questionnaire in November and December 2009. The Association carries out annual surveys on the members’ plans for advertising, sponsorship and market research. It also conducts periodic surveys on trends in the advertising media.

Sources: Taloussanomat, Association of Finnish Advertisers