Coyne says it had a "banner year" for new business, and its fattened-up client roster bears that out. The agency has marquee-name clients on its roster that belie its one-office existence, and high-profile work has given the agency a rightful reputation of being creative, and nimble. But the most important thing to CEO Tom Coyne is the staff. "It starts and ends with your staff," he says. "If you take fantastic care of your staff, you are going to get the best people and thus get the best clients. The clients fall in love with your people, but if you lose them every couple of years, that doesn't work." Coyne has expanded its New Jersey office and looks to open other offices in the US this year.
Name of global CEO and US CEO (or most senior equivalent)
What is your current headcount, and how has it changed from this time last year?
Coyne PR currently employs 47 full time staff members, driven largely by its growth philosophy – to be the best agency to work for. By creating the best possible work environment, we can attract the best staff. By attracting the best staff, we will attract the best clients, and thus become the best agency in America.
2005 was a year of tremendous growth for Coyne PR. The agency grew its staff by 30 percent last year – and has achieved a four-fold increase in staff size since 2001; yet the agency retains a 2:1 junior to senior staff ratio, ensuring that clients receive experienced counsel throughout the course of their program. Due to its robust growth, the agency will expand its offices by 50 percent in 2006.
What was the percentage of staff turnover?
Coyne PR has an employee retention rate exceeding 90 percent.
Did you make any senior hires in 2005 (VP and higher)?
In, 2005, Coyne PR promoted two staff members to the VP level. Kevin Lamb, a member of the Coyne staff since 2000, now runs all business efforts for Medco Health Solutions – one of the agency's cornerstone accounts -- and also oversees Coyne's work with Terumo Corporation, a leading global medical device manufacturer. Tricia Ryan ascended to the VP level, and now directs work on Coyne's work as Agency of Record for Walt Disney Parks and Resorts and Graco Childrens Products.
What senior staff have departed the firm?
In 2005, Coyne PR did not lose any senior staff at the VP level or above. In fact, no VP has ever left Coyne PR.
How many offices do you have globally?
Coyne PR is headquartered in Parsippany, NJ.
How many practice areas do you have?
Brand building, cause marketing, sports marketing, entertainment marketing, product launches, crisis communications, new media
Which ones are new?
Of those, which ones are part of the core strategy of the agency?
Product launches, brand building, cause marketing
What practice areas showed the most growth?
Brand building, crisis communication
Which practice areas showed the least growth?
What is the distribution of accounts across practice areas?
Serving as AOR for the majority of our clients, we find that different practice areas are utilized and integrated to meet specific needs for individual clients.
What key account wins did you have in 2005?
2005 was a banner year for Coyne PR. The agency won a number of high profile business, including Agency of Record for Goodyear, Disney VISA, Disney Mobile, Agency of Record for Casio, Progressive Insurance, Disneyland Resorts, Rain-X, and Verizon VOiP.
What key accounts did you lose in 2005?
In 2005, Coyne PR did not lose a single account. All retainers remained in place, all projects were carried out to completion.
Did you expand any existing accounts into new domestic or international markets?
Coyne expanded its work with Disney beyond its 2004 work with Walt Disney Parks and Resorts to now include work for Disneyland, Disney VISA and Disney Mobile. The agency's work for Shell Lubricants continues to grow – in 2005, Coyne added work for Shell's Rotella heavy duty truck oil and its Rain-X brand.
Did any dormant clients start to spend with you again?
Yes, business has grown strongly in the consumer packaged goods category.
What proportion of your clients are on a retainer?
Has this changed over the past year?
What was your 2005 US revenue?
What was the % change over 2004 US revenue?
Did you experience top-line or bottom-line growth in the past year?
How did your performance, in terms of revenue and growth, meet expectations you had for the year?
We felt terrific about the results. We set high agency goals for the year and achieved them. Any time you have consecutive growth rates exceeding expectations, it's something to be proud of.