Sample Pitch Letter for TMP Worldwide, parent company of The Monster Board
Sample Pitch Letter for TMP Worldwide, parent company of The Monster BoardDear Editor:
What is the secret to Internet success? TMP Worldwide (NASDAQ: TMPW) seems to have found the answer. While some people have said that the only people making money on the Internet are those that are putting others onto the Internet, TMP is doing very well online by taking its very successful yellow page and recruitment advertising core businesses, and extending them to the Internet.
Through September 30, 1996, the first three quarters of TMP's fiscal year, Internet revenues had reached $4.4 million. If Jupiter Communications had included classified advertising sales in its August 1996 Ad Spend study (http://www.jup.com) study, TMP would be tied for ninth in Web ad revenue for the third quarter of 1996.
More than 55 of the Fortune 100 advertise on TMP's interactive career centers, which include The Monster Board (http://www.monster.com), Online Career Center (http://www.occ.com), MedSearch (http://www.medsearch.com) and Be The Boss (http://www.betheboss.com).
TMP's career centers contain more than 50,000 paid job postings. The Monster Board is the premier career center on the Internet, with more than 1 million visits per month.
TMP recently made its initial public offering, which received a Strong Buy rating from Morgan Stanley, and has been well received by the financial community.
According to Morgan Stanley, "TMP is a relatively unique play on new media or the Internet combining a very strong position in traditional media with an increasingly strong position in new media."
The company is well poised for success in a very high growth marketplace.
A recent Forrester Research study projected that revenue from online job listings will double from $4 million in 1996 to $8 million this year, and increase by more than six fold in 1998. The report also projects that $1.5 billion in local advertising will shift online by 2001, with classified and directory ad dollars leading the way.
While agreeing with Forrester about growth in Internet advertising, TMP President and Chairman Andrew J. McKelvey expects the Internet to expand the classified advertising category rather than cannibalizing it -- much in the same way television expanded broadcasting rather than eliminating radio.
McKelvey has been right before. He started TMP in 1967, and today it's the world's largest yellow page advertising agency, with close to $430 million in gross billings in 1995 and $351 million in gross billings for nine months ended September 30, 1996.
Since its entry into the recruitment advertising business in 1993, TMP quickly became the world's largest recruitment advertising agency, with more than $165 million in gross billings in 1995 and $216 million in gross billings for nine months ended September 30, 1996.
Total company revenues grew at a compounded rate of 30% between 1993 and 1995. Wall Street analysts project that TMP recruitment revenues will grow by more than 40% on a compounded basis between 1996 and 1999.
If you're interested in learning more about the success of TMP Worldwide and its Internet strategy, we will be happy to set up a meeting with Mr. McKelvey at TMP. We can also put you in contact with industry experts, financial analysts, statistical information, contacts at companies who recruit online, and case studies of individuals who have found their jobs (even non-technical ones) online.
Thank you for your consideration. Regards,
Jon Boroshok
Senior Account Executive
Poppe Tyson Public Relations
201-539-0300 x 272
jborosho@nj.poppe.com
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