A Twin Cities ad exec believes 2025 is ‘the year of the independents’

The “not for sale” sign definitely is up at Preston Spire, the creative agency that’s been doing business — independently — since 1950.

Suitors nonetheless are showing interest in the Minneapolis-based company, which had its “best year ever” in 2024 and looks to top that in 2025, according to partner and CEO Jennifer Spire.

Two other agencies, one local and one a national firm with multiple offices, have made serious inquiries about a purchase. Spire fields frequent emails about the agency’s status.

These come against a backdrop of deals among industry giants that could create opportunities for Preston Spire and other small and mid-sized challengers. Omnicom’s acquisition of Interpublic (IPG) saw the latter giving up the Minneapolis office space of Weber Shandwick, the downtown public relations powerhouse with local roots back to 1981.

“We’re not interested,” Spire said. “We have something special, and it will go away if we are bought out.

“Being able to make decisions that are best for your people and best for your clients means the world.”

Spire values the “amazing experience” she received at larger Minneapolis agencies under the ownership of publicly traded entities, namely Colle McVoy and Olson.

A small, independent agency was just what Spire was looking for when she joined the agency then known as Preston Kelly in 2017. With Chris Preston continuing as longtime partner and chief creative officer, the firm became Preston Spire in 2021 after the retirement of Chuck Kelly, a leader at the firm for 36 years.

“There’s been so much talk about this, especially because of the IPG and Omnicom merger and so many others, that it’s the year of the independents,” Spire said. “I do feel like some of the bigger clients and the bigger brands are opening their mind to the smaller agencies and the independents more.”

She hears complaints that bigger agencies have more layers to deal with, don’t move as fast and often have junior staff doing more of the work.

“It’s going to make their lives better and easier, working with an independent that’s nimble and flexible and wants to customize their process for the client,” Spire said. “A bigger agency, that’s very hard to do, to customize.”

Once at Preston Spire she began developing its new “Good Wins” positioning. The agency said it aims to “supercharge the good in brands so they positively grow.” Revenue has grown 70% since Spire’s arrival, last year reaching a record $7 million. Revenue grew 66% from 2022-24.

Much of that recent growth is organic, with Preston Spire doing more work with current clients. Leading new business development is Victor Kimble, hired in 2023 as the agency’s first chief marketing officer, a rarity at most small agencies. Kimble brought experience from Fallon, Deutsch and Ogilvy in New York and Periscope in Minneapolis.

Preston Spire recently has won three medical device clients in Neuros Medical, Coloplast and Medtronic, Spire said. A full-service agency with an in-house studio for video and audio production and photography, Preston Spire also has clients in food and beverage, retail, financial services and consumer packaged goods.

Revenue has increased at a greater rate than employee count in the past couple years, Spire said, because the agency has built an experienced, senior team across all disciplines, including strategy, creative and design. Preston Spire has 42 full-time equivalent employees with some freelance support and 100% retention through the past two years.

“It allows us to be lean and nimble, have less layers and deliver higher-quality work for our clients,” Spire said of the staff’s experience.

As an employee-owned firm, Preston Spire is transparent in sharing its goals with employees and reporting progress monthly, Spire said. Benefits include employee stock ownership plan contributions, flexible time off, equal parental leave, competitive salaries and free health club memberships.

While some agencies have yet to return fully to their offices, Preston Spire did so in July 2021, as it moved into larger space in the historic Crown Roller Mill Building at the foot of the Stone Arch Bridge. A sustainability committee has led efforts to reduce its carbon footprint, boost recycling in its building and bolster composting, with a new $1,000 composter in the agency’s kitchen.

After the social unrest sparked by George Floyd’s murder, Preston Spire partnered with the YMCA of the North to create Break Your Bias, a website with various learning experiences. Preston Spire makes sure its marketing is inclusive, equitable and “represents everybody,” Spire said.

The agency continues formal diversity training, has increased partnerships with female and diverse business owners and increased the percentage of diverse employees to more than 17%, up from nearly 7%. Its interns and training come from the BrandLab, a Minneapolis nonprofit working to diversify the advertising and marketing profession.

Preston Spire ranked among Ad Age’s Best Places to Work this year and last. The agency received 100% scores from employees on every question about leadership, according to Spire, including whether leaders are committed to employee wellbeing and whether the organization treats employees with dignity and acts on employee suggestions.

Running a creative agency is something Spire had dreamed of since she was a child. Her grandfather — who had worked on Madison Avenue in New York City, the epicenter of the ad industry — began teaching her the business. His “Spire Advertising Inc.” sign from the ’70s hangs in her office.

“I remember sitting at a desk, pretending I was in an office, on the phone, writing copy or whatever,” Spire said. “Because that’s what I was going to do. I was going to follow in my grandfather’s footsteps.”

Todd Nelson is a freelance writer in Lake Elmo. His e-mail is todd_nelson@mac.com.