Northwestern Mutual has appointed Horizon Next, the media agency's direct marketing division as media AOR following a formal review. Incumbent Spark Foundry did not defend.
Horizon Next will be tasked with overseeing strategic communications planning, media activation and advanced analytics across all media channels.
While the financial company currently services 4.5 million people across life, disability income, and long-term care insurance, among others, it has struggled — like its rivals — with attracting Millennial clients. Later this year, the company will relaunch LearnVest, which it acquired in 2015, as a financial education website.
"The company already has an impressively robust and personalized digital experience for its clients. We see an incredible opportunity to leverage its data in new ways to increase customer acquisition and client engagement," says Gene Turner, EVP, chief of Horizon Next.
Northwestern Mutual spent $52.9 million on advertising in the U.S. in the first six months of 2018, up from $41.5 million year over year, according to Kantar Media. The company's full 2017 budget was $68.6 million, according to Kantar Media.