Carmichael Lynch Among the Fastest-Growing Ad Agencies in Twin Cities
Carmichael Lynch has been growing. A lot.
Over the past four years, the Minneapolis-based advertising agency has reported double-digit revenue growth every year and hired more than 60 people in 2017. The firm attributes its growth to client retention, new business and low employee turnover.
“We focus on business results,” said Marcus Fischer, who became CEO of the agency earlier this year. (Fischer re-joined Carmichael Lynch in 2012. He also worked for the firm from 2003 to 2008.) “One of our specialties is we can create empathy. That’s what attracts new clients.”
To accommodate the agency’s growth, it recently took over another floor at its headquarters at 110 N. Fifth St. in downtown Minneapolis. It now has floors 9 through 12. With the addition of roughly 60 employees, there’s now about 300 people working at the company, including a small office in New York City.
“Our growth is based on retention, not only of clients, but also employees,” Fischer said.
Many ad agencies experience roughly 30 percent employee turnover annually, according to the Association of National Advertisers. Fischer said at Carmichael Lynch it’s less than 10 percent. The firm also has about a dozen open positions.
The reason for such low turnover? The office space is unique and fun, employees are typically allowed to work with clients they enjoy, and Fischer calculates the office consumed roughly 30,000 cans of La Croix Sparkling Water last year.While times are good for Carmichael Lynch now, there’s still some concern. Making sure the firm keeps clients and gets new ones is always on Fischer’s mind. The phone always needs to keep ringing, and keeping up with changes in the industry is essential.
Some of the agency’s biggest clients include Subaru, U.S. Bancorp., Jack Link’s and Phillips 66, which is a new client this year. Carmichael Lynch has some large national and international clients, but is by no means turning its back on potential clients in the Twin Cities area.
“Minneapolis is not tapped out,” Fischer said. “There’s room to grow here.”