CJP Communications: Agency Business Report 2010

Tom Rozycki, CJP SVP, says the agency supplemented client budget cuts with a focus on project-based work, such as crisis communications, in 2009.

Principal: Jennifer Prosek, managing partner
Ownership: Independent
Offices: New York, London, and Connecticut

Staff
The agency's current headcount is 46, an increase over last year's 43. Eric Chandler and Gina Sorice joined as SVPs, and Suzanne Hallberg joined as VP. Staff turnover was 14%.

Practice areas
The firm has 14 practice areas, including financial, crisis, creative services, and energy. It phased out its consumer practice last year. The financial sector makes up 35% of CJP's accounts, while insurance represents 12%, and IR and energy supply up to 10% each.

Accounts
IKEA, Aflac, and GMAC were among CJP's key account wins in 2009. Account losses included Fairpoint Communications, Hartford Financial Services Group, and PeoplesBank. Of the firm's clients, 75% are on retainer.

Financial performance
Total global revenue was $9,042,735, up 1% over 2008 with a 23.6% profit margin.

Analysis
Tom Rozycki, CJP SVP, says the agency supplemented client budget cuts with a focus on project-based work, such as crisis communications, in 2009.

Rozycki notes a 10% increase in client spend for 2010's Q1 compared to last quarter, a trend managing partner Jennifer Prosek expects to continue.She adds that client budgets slashed 30% last year have now rebounded 50% to only 15% less. 

"In 2009, there were three or four times we were in a panic," noted Prosek, "but that panic never became a reality."

"Client budget cuts en masse was the number one challenge last year," she adds. "Crisis communications, digital, and leadership projects got us through the year."

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