Lowe’s appoints Jennifer Wilson as their new Chief Marketing Officer (CMO) in light of Marisa Thalberg’s exit.
Known for her strategic vision and customer focus, Wilson steps into the role boasting over a decade of experience in the sector and aims to champion the company’s marketing and advertising endeavors.
In line with her promotion, Lowe’s undergoes a major restructuring, integrating its marketing wing with the existing merchandising unit to combat an 11% revenue shortfall from 2022 to 2023.
This strategic shift gears towards creating a resilient structure and ensuring streamlined operations, thus promoting better market trend anticipation and improved customer satisfaction.
Alongside internal restructuring, Lowe’s revises its agency affiliations, transitioning from former affiliate Starcom to Spark Foundry for its Publicis media agency services.
The new marketing strategies revolve around three main objectives: projecting their workforce as the most service-oriented in the industry, reinforcing customer relationships, and modernizing its marketing infrastructure.
This update includes the integration of consumer data and artificial intelligence for enhanced customer understanding.
Lowe’s devises initiatives to solidify customer loyalty and create long-lasting connections while also upgrading its technological arm to keep up with the changing digital landscape.
Two specialized teams will be set up—an experience integration team and a data-driven marketing team.
Wilson’s promotion and Lowe’s restructuring strategy
Their main tasks are to enhance customer experience, improve customer loyalty while also pushing consistent branding across all Lowe’s platforms.
Cross-functional collaborations between the teams are highly encouraged, fostering a synergistic environment beneficial to the overall company.
Wilson outlines a series of performance metrics to assess progress, such as stimulating brand preference, evaluating in-store traffic, maintaining positive valuation perception, and promoting customer loyalty.
With these metrics, Lowe’s aims to monitor the effectiveness of their promotional strategies and overall business performance.
In continuation of its industry revolution, Lowe’s selected a new agency partner after an internal review process, sticking true to their home improvement roots while also keeping up with their previous year’s successful “Lowe’s Knows” campaign.
This partnership, poised to bring about a positive shift in the company’s creative direction, sets Lowe’s ready to launch innovative strategies to further solidify its market position.
