They say agencies that try to manage their business by driving costs down are doomed to fail. One Dutch agency has put that idea to the ultimate test, with an ingenious plan to swim against the tide of the financial crisis by offering creative solutions on a 'pay what you want' pricing strategy.
Facing declining client budgets, Amsterdam-based Buutvrij For Life decided to drum up new business by launching a project called '40 Day Fast', opening its doors to "anyone in need of a creative boost, free of charge".
Buutvrij For Life says in the 40 days it picked up 152 new projects for clients including Tony's Chocolonely, Red Bull, Oxfam and the Belgian Olympic speed skating team, and managed to grow 70% when "other agencies were going out of business".
It also claims the stunt generated €300,000 of free publicity in local media, reaching one million people on TV, radio, blogs and social media. "During these 40 days, clients regained their trust in the value of creativity – and they never left," the agency says.
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