Text 100 saw significant growth in US revenue in 2011, with an increase of almost 21% over 2010 to a total of $17,570,810. CEO Aedhmar Hynes attributes this to the economy picking up compared to the previous year, as well as the firm's increased investment in providing integrated marketing and communications services.
"We are seeing more spend in those areas with our existing clients, while demand is fairly high with new clients," she explains. "We're going past digital and social media being an add-on. It's become very much a core part of everything we do."
Text 100 is seeing continued growth in the US and Asia, while Europe is growing at a slower pace due to the lingering economic impact of the debt crisis, Hynes says.
Key account wins in 2011 were Shazam, Nokia, along with sister Next Fifteen agencies Bite and 463, and Facebook (Asia-Pacific). About 62% of the firm's clients are on retainer.
The firm did not disclose how much of its growth was organic compared to new business wins.
While its core focus is on servicing tech clients such as Cisco, which the firm has worked with for five years, Text 100 has extended its reach into other areas, including media, such as its work with other new clients The Weather Channel and Food Network. The agency is also looking to grow its business in the automotive, energy, aviation, and travel and tourism sectors.
Hiring mode
Hynes reports that the agency is hiring at all levels and is looking for practitioners with traditional PR skills, as well as creative and integrated marketing capabilities, such as content creation.
"We are definitely widening the net beyond traditional communications and adding people with more marketing skills," she explains.
The firm's US staff turnover rate was 20%. One key hire was Jason Clarke, VP of marketing and business development, who joined Text 100 this February from sister agency Bite Communications, where he held a similar role. Another recent hire was Michael DiLorenzo as VP of digital for North America.
A training program was also added this year focused on building employees' digital and social media skills. Thus far, Hynes says, it has been "incredibly well received."
Source Citation
"Text 100." PR Week [US] May 2012: 70. Communications and Mass Media Collection. Web. 18 June 2012.
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