Makovsky & Company: Agency Business Report 2011

Headcount remained at 50 in 2010, though the firm reported a 15% turnover rate.

Principal: Ken Makovsky, president and CEO
Ownership: Independent
Office: New York

Staff
Headcount remained at 50 in 2010, though the firm reported a 15% turnover rate. Key hires included Andrew Bard as VP of tech and energy, and Reginald Christian as VP of digital. Frank Ovaitt, EVP of research and measurement, started his role in March 2010. Group VP Alyson Nikulicz departed.

Practice areas
The six practice areas are financial and professional services; health; tech, energy, and environment; digital; IR; and research and measurement, a newly added practice.

Accounts
Key wins included Mirae Asset Global Investments, Coinstar, Merck, Siemens, Cephalon, and United Water. Losses included BondDesk, TIX, and ServiceLink.

Financial performance
The agency ended 2010 with $11.3 million in revenue, an 11% increase from 2009 ($10.2 million). Of last year's growth, 30% was organic and 70% was new business.

Analysis
Most of the firm's growth was realized in the second half of 2010, says CEO Ken Makovsky. With businesses poised to support new ways for profitability, the agency began a research and measurement practice.
 
"Measurement is going to be one of the most important elements among corporate clients in the future," he adds. "With the feedback and accountability that the Internet allows, it's made clients very measurement-conscious."
 
The firm's tech, energy, and environment practice showed the most growth at 21%. The IR practice showed the least growth.

Looking ahead, the agency's revenues for the first two months of 2011 were up 18.7% over last year. The agency is forecasting 12% growth for the year with increased focus on integrated programs, including greater emphasis on social media and research.

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