Principals: Ken Eudy, president and CEO (pictured)
Offices: Raleigh, NC
2011 Revenues: $14.2 million
2011 Headcount: 97
Capstrat had a strong year in 2011 posting a 20% increase in revenue from $11.8 million to $14.2 million. The company attributed 90% of revenue growth to current clients.
One long-time client that has given the firm new work was Blue Cross and Blue Shield of North Carolina. The firm helped the payer launch its “Let's Talk Cost” campaign, which used goats to portray doctors, insurers, hospitals, pharmaceutical companies, consumers, and attorneys to emphasize the pratfalls of “scapegoating” the reasons healthcare costs are high.
The initiative featured guerrilla marketing with goats, or people wearing goat heads, appearing at various events around the state and a companion website LetsTalkCost.com, that features blog posts from employees and experts.
In June 2012, the firm, which focuses on healthcare, professional services, and technology, welcomed University Florida-Shands Health System as a new client. Capstrat is helping the company with brand and marketing work. The agency also won clients Cotton, Inc. and Caterpillar.
Another area of growth has been its public affairs business. This past spring, the firm won the Office of Mortgage Settlement as a client. The organization was established after the attorneys general from several US states, the federal government, and five banks and mortgage servicers – Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo – reached a $25 billion mortgage settlement that will create new servicing standards, offer loan modification relief to distressed homeowners, and provide funding for state and federal governments.
Capstrat will provide PR for the office as it allocates money moving forward. “The work our clients do tends to be really complicated and those clients depend on us to simplify their messages so consumers can understand them,” says Eudy.
On the staffing front, the firm has increased its training budget significantly last year bringing in outside speakers and sending staff out for external training. “We have some amazing young talent that want to grow into leadership positions and we needed to prepare them to do that,” he says.