Adv 420 presentation
- 2. Lowe’s was founded in 1946 in North Carolina, and since then has been growing throughout the United States. Today, the company serves over 14 million customers a week from their 1,749 locations. It has become the second largest hardware chain in the U.S. and is currently listed as number 43 on the Fortune 500.
- 3. Lowe’s carries almost anything you -Appliances can imagine when it comes to -Bath hardware and home improvement. -Building Supplies -Electrical Their departments include: -Flooring -Hardware -Heating & Cooling -Home Décor -Kitchen -Lawn & Garden -Lighting & Fans -Outdoor Living -Paint -Plumbing -Storage -Tools -Windows & Doors
- 4. The Competition #2 Home Improvement #1 Home Improvement retailer in the United States retailer in the United States 1,749 Locations in three 2,248 Locations in four countries (U.S., Canada and countries Mexico) (U.S., Canada, Mexico and China) Revenue in 2011: $49 Billion Revenue in 2011: $68 234,000 employees Billion 321,000 employees
- 5. Despite its success, Lowe’s is clearly trailing its main competitor, Home Depot, in almost every aspect of their business. A great place for Lowe’s Lowe’s can make some great strides in to start as far as successfully the right direction by improving upon competing with Home Depot what Home Depot already does quite would be to adopt and improve well. Lowe’s has actually won quite a upon many of Home Depot’s few environmental awards, and by strengths. Good examples of incorporating this more into their these are: advertising campaigns this will help improve their image. They could also • Environmental Work extend the sponsorships they provide in • Major Sponsorships sporting events to get further notice as • International Presence well as promote their own exclusive • Exclusive Brands brands further. And of course, possibly • Social Media Marketing the most important game plan for Lowe’s should be to focus on improving their social media marketing.
- 6. One of the best new ways for companies to promote their brand, image and interact with customers is through social media. Some of the biggest social networks out their right now are: Facebook Although a store like Lowe’s can be Twitter appealing to many demographics of LinkedIn shoppers, their target market is Google+ probably middle aged folks within YouTube the middle class. Today, older people are becoming much more technology savvy and are interacting with the internet far more than ever before. As a result, Lowe’s needs to make sure it gets itself out on the internet and make its pages engaging and easy to access.
- 7. The best marketing strategy for Lowe’s would be to improve their presence in as many popular online social media outlets as possible. By doing this customers can have easy access to new specials, store openings, and general Facebook information on the company. With a Facebook page, people can join the Lowe’s group to get news and information about the company. Twitter With Twitter Lowe’s can constantly update its followers with any news on deals and new products. YouTube With a YouTube page Lowe’s can make instructional videos to help the “do-it- yourself” customers.
- 8. One of the most important things a company can do to stay successful is to listen to what their customers have to say. Millions of people use blogs every day to express their opinions about anything and everything. For a company like Lowe’s, listening in on what people have to say about them can really help the company to improve itself. Through blogs Lowe’s can get an insight into the consumer mindset, see what makes them tick, and work to become a company that caters to its customers needs more successfully. Also, through brand monitoring Lowe’s can find the popular articles about them that come up on the internet and respond to false claims and situations that may cast the company in an unfavorable light.
- 9. Search Engine Optimization (SEO) is a way of ensuring that words and phrases on a website or blog can be found by a search engine and given the highest possible ranking under search results. A goal for Lowe’s should be to achieve the best possible search results related to their company when people go onto search engines. A great way to do this is by coming up with a unique identity through specific words and terms that relate only to Lowe’s and that people will remember. Adwords consist of text advertisements and pop up on Google search engines when people enter in a matching keyword. Utilizing Adwords can be a great way for Lowe’s to get noticed more by people who spend a lot of time online as well as make it easier for people looking for them to find deals and prices.
- 10. Lowe’s Home Improvement is a strong company that has been very successful over the years, but that doesn’t mean that there isn’t room for improvement. By imitating some of the successful campaigns of their competitors, Lowe’s can get a step in the right direction. From there, the smartest thing that this company can do is focusing on increasing their social media presence on the internet. This is the fastest growing way for businesses to promote themselves, and used effectively can spell great success for Lowe’s.