WPP's Mindshare has been named cereal giant General Mills' new media agency, according to sources.
The agency's Chicago and New York office will oversee buying and planning for the snack food and cereal giant starting October 1. General Mills will spend $823 million on advertising during fiscal 2015, down from $866.4 million last year.
This account switch comes during a time of change as General Mills repositions itself for what it believes is more "effective marketing,” according to executives who laid out the plan at an investor presentation in July.
This repositioning is expressed in four goals. First, the company is focusing on developing better creative to support Cheerios, Progresso, and Yoplait brands. Second, it is readjusting its ad spend towards digital initiatives. In fiscal 2015, 18% of its budget went to digital and 79% to TV.
By contrast, in fiscal 2016, 25% of its money will go to digital and 73% to TV. Also, the company is sharpening its attention towards Hispanic consumers. And General Mills will rely more heavily on shopper analytics to help guide its decisions.
The incumbent agency Publicis Groupe's Zenith Media had held the account since 2001. Joanne Davis Consulting assisted with the review process.
The agencies declined comment or didn’t respond to queries. A General Mills rep couldn’t be immediately reached for comment.