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SMALL AGENCY OF THE YEAR: SLOANE & COMPANY
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By: Paul Holmes
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For established firms, an economic downturn means typically means retrenchment, but for newer firms it can create an opportunity, particularly if their leaders can convince clients that they offer a new value proposition. That’s not easy, because many clients have heard it all before, but Sloane & Company has clearly benefited from being able to convince prospects that it is hungry enough to deliver on its promises: senior people on every account; treating every client as the agency’s most important assignment; providing big agency experience in an entrepreneurial environment.
Focusing on its core competence in financial and corporate communications Sloane ended 2002 with revenues of $6 million, an increase of 15 percent, with margins up even more significantly. Growth came from both expanded retainer relationships and high-profile projects. The firm grew its relationship with media giant Primedia, assuming responsibility for several of the company’s magazine brands in addition to existing corporate and investor relations assignments. On the project front, Sloane represented the United Airlines Pilots Association during ongoing discussions over the future of the airline; helped Harrah’s develop a responsible gaming initiative, and is working with AT&T on the spinoff of its broadband business.
Other new business wins in 2002 include AT&T, Medtronic, the Bank of New York, Rosenbluth International, Deutsche Bank, the United Airlines Pilots Association and Paris-based Thales IT&S (formerly Thomson CSF). They join a roster that incldes Primedia, the Government of Bermuda, and Rainbow Media Holdings.
On the staffing front, the biggest new hire was Jenny Lee, formerly head of IR at eBay, who will manage the firm’s investor relations practice.
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