PRECISIONeffect: 2021

PRECISIONeffect

101 Tremont Street, Floor 2

Boston, MA 02021

Telephone 

800-634-5315

E-mail 

Heather.O’[email protected]

Website 

precisioneffect.com

 

QUICK FACTS

Accounts

Account wins 15

Active business clients 48

Brands by 2020 sales

Brand-product accounts held 38

$25 million or less 6

$25 million-$50 million 1

$50 million-$100 million 5

$100 million-$500 million 8

$500 million-$1 billion 6

$1 billion or more 5

Products not yet approved/launched 7

 

SERVICES MIX

Professional digital/web/mobile 35%

Consumer digital/web/mobile 30%

Direct marketing 10%

Sales materials 10%

Market research/data/analytics 5%

UX design 5%

Consumer print ads 2.5%

Professional print ads 2.5%

 

 

“We will always remember the uncertainty, fear, and loss associated with 2020,” says Carolyn Morgan, president of PRECISIONeffect. “But just as it tested our resilience personally, 2020 surprisingly validated our agency’s vision and determination to change standards – even if they’re our own.”

PRECISIONeffect was already working across time zones, expanding hiring parameters, and beating the digital transformation drum with clients when the agency seamlessly shifted into full virtual mode on March 10, 2020, management says. 

The company fully embraced a work-from-anywhere model, which expanded recruitment efforts and built talented teams without geographical restrictions. 2020 proved an excellent test of the agency’s agility, collaboration, and grit. “Everyone leaned into the new normal, and I’m so grateful for what we achieved and what we all proved to ourselves,” Morgan says.

RECENT ACCMPLISHMENTS

While 2020 was tough for many companies, PRECISIONeffect’s leaders say the agency was fortunate to experience growth – adding 30-plus new “effectors” across multiple departments and achieving 20 percent revenue growth. In addition, the influx of digital needs resulted in growing the agency’s media and engagement team more than 30 percent. 

In the United States, the agency experienced record organic growth with current clients and significant new business across therapeutic areas including women’s health, aesthetics, and next-gen diagnostics. The teams also celebrated notable launches, including Ayvakit, for the treatment of unresectable or metastatic GIST; Oxlumo, the first and only FDA-approved treatment for primary hyperoxaluria type 1 (PH1), which has been shown to reduce urinary oxalate in infants, children, and adults with PH1; and T-Detect COVID test, a highly sensitive and specific test that can detect the specific T cell signature in response to SARS-CoV-2, the virus that causes COVID-19. 

Across the pond, agency veteran John Fitzpatrick led the team to 25 percent growth despite the UK lockdowns. 

Fitzpatrick and his team have established a cross-Atlantic approach between the offices, ensuring seamless delivery of shared global accounts. According to PRECISIONeffect’s leadership team, medical, creative, and media expertise has become truly unified and multi-national clients enjoy the expertise and resources of one integrated agency. “The pandemic enabled us to accelerate our ‘one-team’ mentality and now, with a level zoom-field the teams are more connected than ever,” Morgan says.

The London team also celebrated notable work including the European launches of Nerlynx, for the treatment of adults who have early-stage HER2+ breast cancer; and Waylivra, for treating a rare genetic condition that gives rise to high levels of triglycerides in the blood. Additionally, there was ongoing work on the high-profile public awareness campaign encouraging HPV vaccinations to include young adults. 

PRECISIONeffect executives say 2020 turned out to be a perfect time for the agency to launch “This Medical Moment,” a work-break video series hosted by Morgan. From insights, obstacles, and lessons learned, each episode features entrepreneurs and leaders that are challenging current thinking and practice in the cutting-edge pharmaceutical, biotech, and healthcare industry. According to agency leaders, early episodes have been widely viewed, shared, and the list of those who’d like to be featured on the series continues to grow.

Several employees received industry kudos, such as Pam Caputo, associate VP, media and engagement, who was selected for MM&M’s inaugural “40 Under 40” class and MM&M’s “Women to Watch” list; Heather O’Handley, VP, business development, who was recognized as a “Sales MVP” with a PM360 ELITE Award; and Kunsan Kim, senior VP, strategy, who was selected for his exceptional strategic abilities and inducted in the 2020 PharmaVOICE 100.

 STRUCTURE AND SERVICES

The agency supported a successful and productive remote work environment with the IT team being instrumental in getting everyone up and running. This included a range of mission-critical collaboration tools – everything from Microsoft Teams and Office 365 to Zoom to MIRO, as well as taking advantage of Workfront, a project management software system. 

In addition, PRECISIONeffect Productions, under the leadership of VP Karen Gardiner (who was hired just a few weeks before lockdown), restructured to a more agile work model enabling quick deployment of remote video productions, COVID-19 compliant shoots, animations, and motion graphics. These moves led to impressive growth in this department with a 92 percent lift in revenue year over year, according to agency leaders. 

Management says there was also, unsurprisingly, a rise in demand for all non-manpowered initiatives and the agency met that demand with solutions from virtual tools, self-service content models, virtual trade shows, social media campaigns, CRM programs, and more.

The leadership team says PRECISIONeffect’s wecentricity model, launched in 2018, took on even greater value and import in the face of the pandemic. “It transcended from the walls of offices to each of our homes,” agency executives say.

In the face of the pandemic, the agency’s talent team proved especially nimble and made it their first priority to ensure its employees, who are referred to as “effectors,” felt connected and prepared to succeed, no matter where they were. The talent team launched a robust onboarding portal, developed guides for remote hiring (of the 62 hires in 2020, 49 of them were remote), and hosted virtual learning and development trainings across a wide range of topics including: “Managing Difficult Conversations” and “Leadership Essentials for New Managers.” 

“With so many of our teams stepping up, the agency recognized home-grown talent with over 33 well-deserved promotions,” management says. These include Leah Davy, who is now associate director, media and engagement; Mike Mancuso, who stepped into the newly created role of associate director, imaging; and Mike Trillow, head of development in London, who stepped up to director of technology, overseeing team members in all offices. The agency also honored the extraordinary contributions of tenured staff, bestowing VP titles on Maeden Anda, now VP, creative director; Sophie Morson as VP of strategy in London; and Dena Biggins, now VP, group account director. 

FUTURE PLANS

In 2021, management says PRECISIONeffect will enrich its evidence-based targeting and analytics offerings to help life science companies improve their go-to-market efforts, noting that as clients seek greater digital transformation, the agency will continue to lead in developing omnichannel action plans.

According to Morgan, on a personal note, PRECISIONeffect consistently encouraged the teams to focus on what matters most: taking care of themselves, their families, and their clients. “Even as they dealt with home schooling, cramped quarters and spotty internet connections, our teams delivered, providing clients with timely, implementable, and meaningful solutions,” she says. “Through virtual meetings and toasts, we cared for each other and helped each other out. I am confident that we will come through this as a stronger team and family. It is humbling to see what people can accomplish when they choose to work together.”

PHILANTHROPY/CITIZENSHIP

PRECISIONeffect didn’t forget organizations that are always in need, and though the teams couldn’t gather in person for acts of service, the agency made monetary donations to many organizations near and dear to their hearts. These include the National Organization of Rare Diseases, St. Jude Children’s Research Hospital, NHS Charities Together, Médecins Sans Frontiéres, and Ivy’s Gifts. 

The agency also partnered with Building Impact for virtual volunteering. The teams created Isolation Care Packets for elders separated from loved ones during the pandemic and Holiday Gift Baskets for mothers and children survivors of domestic violence. The kits were delivered to Homeowners Rehab Inc. and The Transition House, respectively, in Cambridge, Mass.