Text 100: Agency Business Report 2008

Last year, Text rebranded itself as a global PR agency, rather than just a tech PR firm.

Outlook
Last year, Text rebranded itself as a global PR agency, rather than just a tech PR firm.

"Text 100 was synonymous with technology, [however] our work with clients is broadening out," says CEO Aedhmar Hynes. She attributes the agency's slow start in 2007 to clients that tightened their marketing budgets in late 2006.

But since then, she adds, the agency has focused on achieving results with greater efficiently. In turn, Text 100 ended the year with strong account wins and figures.

Going forward, Hynes predicts that clients will keep steady retainer budgets, but they will put more money into specific projects.

"That's where we are seeing our major growth," she notes.

Staff
The agency currently has 541 staffers, which represents a 7% increase over 2006. Employee turnover in 2007 was 38%, with six senior departures.

Hires include David Bailey, SVP of the San Francisco office, and Sherrie Weldon, VP of the New York office. Five staffers were also promoted to senior-level positions.

Practices
Technology, clean tech, and financial services are three of Text 100's eight practice areas most integral in its growth and core strategy.

The agency's digital-lifestyle client roster has continued to grow, and some of its longtime clients, such as Fujifilm, are now tapping that resource. The majority of the agency's retainer clients remain in the software and IT services sectors.

Financial performance
Global revenue increased 14% in 2007 to $59,079,745. However, US revenues decreased by 3% to $22.6 million. Profit margins posted at 14% globally and 25% for the US. The agency's top-line revenue growth was $5.9 million and its bottom-line growth was $1.7 million.

Principals: Aedhmar Hynes, CEO; Scott Friedman, US regional director
Ownership: Next Fifteen Communications Group
Offices: 27, Five in the US

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