Peppercom: Agency Business Report 2008

Co-founder and managing partner Steve Cody credits much of the agency's 2007 financial success to employee programs, such as the job swap between junior and senior staff, and Dream Day, in which the entire office went off-site to discuss the agency's aspirations.

Outlook
Co-founder and managing partner Steve Cody credits much of the agency's 2007 financial success to employee programs, such as the job swap between junior and senior staff, and Dream Day, in which the entire office went off-site to discuss the agency's aspirations. One initiative to come out of Dream Day was to start focusing on nontraditional hires, such as a former editor of The Wall Street Journal.

He also noted the major contributions of the London and San Francisco offices to the firm's overall achievements in 2007.

"We will look to bring more nontraditional hires on board," he adds, "while also looking at [expanding into] another part of business - that's a service extension - to continue innovation in terms of new product and service offerings."

Staff
Peppercom added 14 staffers for a current headcount of 78, with a 15% turnover rate. Senior hires included former Worth editor Matt Purdue as senior analyst, a newly created post. Deborah Brown was promoted to MD of strategic development and Marya Pongrace to director.

Regional performance
US revenue increased by more than 42%, due to a mix of new business and organic growth. UK revenue rose nearly 50%.

Practice areas
The firm does not maintain strict practice areas, but client work focuses primarily on b-to-b (30%), financial (25%), consumer (20%), community relations (18%), and crisis communications (17%). The greatest growth was in crisis communications, environment, digital, and events.

Accounts
Wins included Columbia University's Graduate School of Journalism, Major League Baseball, Rohm and Haas (Europe, Latin America, North America, Mideast, Asia-Pacific). Hollander was a key loss.

Financial performance
Global revenue rose 43% to $13,016,215, with a US increase of 42% to $11,815,773. There was both top- and bottom-line growth in the past year, divided evenly between new business and organic growth.

Principals: Steve Cody (pictured) and Ed Moed, co-founders and managing partners
Ownership: Independent
Offices: Two in US - New York, San Francisco; one globally - London

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