Principals: Tom Coyne, CEO (pictured); Rich Lukis, president
Offices: Parsippany, NJ; New York
Coyne PR's reputation in the industry is based on two things: being a strong consumer agency and providing a favorable work environment. Indeed, its strategy is focused on its people, says CEO Tom Coyne. This includes a "plus-one staffing model," where the agency always has someone who can help with overflow work, giving it the resources to service clients while still adding new ones.
In 2009, the firm hired 18 staffers de-spite the tough economy, and Coyne says it "spent a lot of time last year recruiting and bringing forward some great people." Two major hires were Meghan Flynn as VP and director of food and nutrition marketing communications, and Sue Murphy as VP of the toy and juvenile product division. Additionally, financially Coyne "didn't touch anything we did with the employees, [like] outings."
These strategies appear to have paid off as the firm reported $12 million in revenues, a 4% increase over 2008, and a profit margin of 10%. Coyne and president Rich Lukis attribute that growth to a reorganization within the agency, which focused on more clearly defined practice areas and a stronger alignment between staff experiences and client needs.
Lukis, who joined in 2008, oversaw the entire reorganization, which moved the agency from a generalist approach to more specialized practice areas – including automotive, healthcare, fashion, food and nutrition, and toy and juvenile.
The firm began an "aggressive employee training program," Lukis says, and Coyne adds that the agency "more than doubled the size of our new business department," which contributed to wins and growth.
Wins in 2009 included ESPN, The Hershey Company, AMP Energy (part of Pepsi Beverages), and Disney's Wide World of Sports. The firm also expanded work with Del Monte Pet Products, including becoming AOR for Milk-Bone.
Coyne says the agency has achieved "solid double-digit growth" in Q1 2010 and has a number of new business opportunities. He adds that the bolstered practice areas will lead to more growth this year.
"These practice areas are part of the business objectives," he explains, "and have their own business plans that they are completely energized on."