Offices: New York, Los Angeles, Chicago, Charlotte, and London
Revenue: $19.1 million
Over recent years, Taylor, once known as a sports publicity shop, cut its client roster from 70-plus to 15, enabling it to serve as a strategic counselor focused on a small group of category-leading consumer brands.
While many firms' revenues increased from 2010 to 2011, Taylor's annual revenue was roughly flat. Those results are tied to the fact that Taylor declined to renew three clients at the end of 2010 that collectively brought in revenue of $2 million. CEO Tony Signore explains that decision by noting that the clients were not open to a PR firm that was positioned to provide counsel on the entire brand communications strategy, including digital, marketing, and advertising.
“Sometimes that commitment to advance the agency's strategic performance doesn't align with short-term revenue goals,” says Signore. “Taylor is not in the business of looking at anything in the short term.”
The agency replaced the departed clients with new account wins from consumer brands Nestlé, Novartis, and Amazon.
The revenue from these new partners, combined with organic growth from existing clients including Capital One and Diageo, allowed Taylor to recoup the $2 million in revenue. Signore adds that 2011 was the first year in which 50% of the firm's revenue came from strategic brand counsel.
Taylor has added to its ranks several employees with diverse marketing communications backgrounds, including senior brand planners, digital strategists, and consumer insight specialists.
“When you combine this talent with our PR practitioners, you're dialing up the value proposition,” says Signore. “The end result is client partners look toward your agency to lead strategic discussions.”
He cited the firm's work with NASCAR as validation of its brand-planning prowess.
Taylor partnered with NASCAR senior leadership on an effort transforming the auto racing brand's corporate communications and fan engagement strategies. The initiative began with a comprehensive review of its communications strategy and resulted in a series of strategic research initiatives designed to assess essential parts of the sport, including fan experience at live races, an examination of digital and social media strategy, an exploration of the most promising next-generation fan segment, and an assessment of drivers' star power.