Company: BackBay Communications, Boston, MA
Company Description: BackBay Communications is an integrated public relations, content marketing, and digital agency focused on the financial services sector including private equity, asset and wealth management, financial technology, and Impact investing / ESG. BackBay works with clients to help them build their brands and drive new business. BackBay has offices in Boston and London and global agency partnerships.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Advertising, Marketing & Public Relations - Small
 Nomination Title: BackBay Communications
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2021, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 198 words used.
Founded in 2005, BackBay Communications is an independent, boutique integrated public relations firm focused on the asset management, fintech, impact investing and private equity industries. With offices in Boston and London, our client base is predominantly based in North America and Europe. We currently have 50 retainer clients across our four verticals serviced by our talented team of 32 professionals comprised of former senior editors from major financial publications, former marketing executives from leading financial companies, PR agency pros, and specialized talent we have cultivated from within.
Currently, our client AUM totals over $3 trillion and our client retention rate for the past five years has consistently been over 90%. Since our founding, we have grown revenue every year and increased revenue by 26% in 2022. To support its growth, BackBay has increased its employee base by 50% in the last two years, adding 17 new employees.
Our mission is to help our clients identify and communicate their unique stories; generate meaningful results that build brands and drive growth and deliver an exceptional client experience. We deliver on that mission by hiring industry-leading senior talent that provides trusted counsel to our clients and mentorship to our newer employees.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 220 words used.
In 2021 and 2022, we experienced record breaking new business, winning major new accounts [REDACTED FOR PUBLICATION] and adding a new impact investing & ESG vertical that has yielded significant growth for the company, increasing our client base in the sector by 75% in 2022 alone.
Further, we have been recognized several times for our industry leading work in private equity and in the last year we have been named Best Private Equity PR Firm by The Drawdown Awards and Best Private Equity PR Firm in the PE Wire European Awards. In 2021/2022, we signed 35 new private markets clients, bringing us to 120 total private markets client since our founding. In the last two years we have promoted 294 deal announcements for 33 private investment clients and publicized 27 fund closes totaling $33.1 billion.
In 2021/2022, our industry leading work was also recognized with several awards including two Stevie's awards, PR Daily, Bellringer, Bulldog and WealthManagement.com awards. We have also recently been shortlisted for the Fund Intel & Ops Awards and the Family Wealth Report Awards.
Finally, we have continued to invest in our exceptional people, celebrating 17 promotions and bringing in 17 new hires since the beginning of 2021, increasing our employee base by approximately 50%.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 248 words used.
In the last two years, record breaking new business has resulted in the fastest growth in company history with a 50% increase in revenue. In Q1 2023, we are on track to have another record-breaking quarter.
We believe our recent rapid growth can be attributed to our hyper-focus on the industries we serve, the caliber of our work and expertise of our team. In 2018, we made a strategic decision to re-organize the company according to the four verticals within financial services in which we have a deep competitive edge. Whereas other agencies are organized around services offered, our industry-focused approach enables every team member within the vertical to develop a deep understanding of the client’s business - subject-matter, industry connections and relationships. As a result, we can bring exceptional value and a unique level of expertise to every client engagement, employing proven strategies that are efficient and truly tailored to their business.
Since restructuring, we have invested significantly in marketing and launched a new website, created new marketing materials (pitch decks, case studies, videos) and initiated digital marketing campaigns to showcase our expertise. Our senior leaders are active thought leaders and in the last two years we have published 30 articles on the latest communications issues facing our clients’ businesses. We have profiled five clients in Q&A pieces and celebrated award wins, client wins, strategic relationships, firm milestones and key new hires with press releases and other marketing, all supported by LinkedIn, search, and email marketing campaigns.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 214 words used.
Our website is constructed to showcase our main competitive differentiators: our focus on the asset management, fintech, private equity and impact investing industries and the quality of our work. On our homepage, we recently launched a new firm overview video underscoring our capabilities and strength of our results: https://www.backbaycommunications.com
To view our marketing and news please visit: https://www.backbaycommunications.com/news/
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For a quick at a glance overview of 2022, please view our recent Year in Review: https://www.backbaycommunications.com/wp-content/uploads/2023/02/BBC_2022-in-review_1200x1200_020723.pdf
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