Editor’s Note: According to Lowe’s CMO Jennifer Wilson, the brand is leaning into a fledgling loyalty program and demonstrating value with new perks, with the goal of building loyal behavior with its existing customer base while finding new audiences. As a bonus, the program gives Lowe’s more insights into customer shopping patterns. Read about the brand’s approach to loyalty and driving incremental revenue through marketing, as reported by CM sister publication Multichannel Marketer.
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Jennifer Wilson, chief marketing officer at Lowe’s, is digging into loyalty and value.
The home improvement chain executive detailed ways, such as its new loyalty program and children’s classes, that the marketing team is driving incremental revenue for the brand at the Shoptalk conference in Chicago in October.
In a recent study Lowe’s conducted, it found that 65% of home improvement shoppers are not loyal to any particular home improvement brand. And that’s a big opportunity for Lowe’s, Wilson said.
“We want people to drive the extra five miles or the extra 10 minutes past our competitors to seek out Lowe’s,” Wilson said.
Lowe’s showcases its value with loyalty program perks
When it thought about ways to get these shoppers to choose Lowe’s and spend more with the brand, it knew it had to focus on how shoppers view value at Lowe’s.
“It’s about driving consumer preference because we are in that duopoly,” she said “It’s about driving loyalty and building loyal behavior amongst our existing customer base, but also finding new audiences so we can get more ingrained and the things that matter most to them.”
For the full article, head to Multichannel Marketer.
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