While Flywheel has grown steadily since its founding in 2006, the agency’s 2019 was defined by the types of expansion that often signal bigger things are on the horizon.
The company settled into a new, more spacious floor in its New York City headquarters and opened its third North American office in Montclair, New Jersey (it also has space just outside Boston). It grew its head count from 70 to 80, with multiple staffers celebrating their 10-year anniversaries with the firm.
At the same time, Flywheel managing partner Dave Miller is quick to note that size only matters so much. He prefers to focus on the continuity of the company and its client relationships, which he believes distinguishes Flywheel from the competition.
“We always say it’s a big achievement when we can expand our account relationships,” he says. “Currently we have at least six relationships with over a million dollars in billings and those are diversified in the type of services we bring to them.”
Flywheel enjoyed a successful year on the new-business front in 2019, adding assignments from big pharma organizations (Genentech, Alkermes) and well-regarded biotechs (WellHive, Paratek Pharmaceuticals, Taiho and Gamida Cell) alike. They joined a roster that includes AbbVie, Pfizer, Otsuka, Eisai, Bayer, AstraZeneca and Sanofi Genzyme.
At the end of 2018, Flywheel counted six AOR engagements and 26 project-based ones on its client ledger. By the end of 2019, it had increased those totals to seven and 28, respectively.
The additional business helped Flywheel grow its revenue by almost 13%, from $16 million in 2018 to $18 million in 2019.
“Every year we focus on extending our relationships through high-focus, high-quality delivery. 2019 was another year where that strategy delivered continued growth,” says managing partner Colleen McMahon.
Miller agrees, adding, “We are always going beyond what’s expected and that requires careful management of all the smallest details. Clients know we get things done and they like that.”
Miller acknowledges that Flywheel dealt with its share of growing pains in 2019, mostly in the form of maintaining connection and encouraging collaboration across a larger organization. At the same time, the company has stuck to its approach vis-a-vis managing them, even as the coronavirus crisis threatened to disrupt most aspects of its business.
To that end, look for Flywheel to continue to focus on its training offering.
“We’re really good at helping people put those hard-won marketing insights and brands into the hands of sales forces,” Miller says.
The firm also plans to develop what Miller characterizes as “really dynamic approaches” to distance learning projects, not only to support sales forces but also to foster remote engagement. “Our model emphasizes close relationships and high quality that creates sustainable activity over years, not months,” he adds.
The best marketing we saw in 2019…
Content marketing for healthcare saw the biggest leaps. The Mayo Clinic’s work has been comprehensive and Cleveland Clinic’s Health Essentials initiative is clear and well-made. But there’s so much opportunity — Northwell Health’s Alexa integration was well-executed. — Dave Miller
From the June 01, 2020 Issue of MM+M - Medical Marketing and Media
