Americans' relationships with their homes have been transformed and the home lifestyle customer has become increasingly important for brands, the retailer explains. At the same time, a changing media landscape has made it more challenging for brands to meaningfully connect with and engage this growing audience.
"There's been a real shift in consumer behaviour and sentiment toward home, and we know our partners are continually looking for new ways to command attention, drive relevance and overall sales," said Marisa Thalberg, Lowe's executive vice president, chief brand and marketing officer. "Leveraging Lowe's deep understanding of the home lifestyle customer and real-time trends, Lowe's One Roof Media Network will serve as an extension of our partners' marketing teams, helping them develop custom, comprehensive approaches designed to deliver on their business goals."
The new network brings together data-driven insights, foresight into consumer behaviours and home category trends, and customized advertising products under one roof to help brand partners drive relevancy and sales with the home lifestyle customer. Capabilities, both in operation today and under development to launch in 2022 and beyond, include ad placement on high traffic Lowes.com pages and in the Lowe's mobile app; digital and social media extensions to help brands better reach their target customers; sponsored home editorial content on Lowe's social channels and Lowes.com; custom research and thought leadership on future shopping behaviours, trends and shifts; and in-depth measurement and closed-loop reporting including consultation for growth opportunities.
More than 100 partner brands participated in early beta tests. Those tests have already generated significant growth of daily revenue. According to the retailer, one kitchen and bath partner achieved a 700 per cent return on ad spend, with several vendors in the pilot seeing returns over 1 000 per cent.