Lowe's scores massive NFL deal and takes direct aim at Home Depot's core customers
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- Lowe's scored a massive deal with the National Football League to become the league's official home-improvement retail sponsor.
- The exclusive, multi-year partnership will give Lowe's branding rights and marketing opportunities at key events including the Super Bowl and the NFL Draft.
- The deal could give Lowe's major marketing leverage over its biggest home-improvement competitor, Home Depot.
- Lowe's is also kicking off a new ad campaign designed to attract new customers - specifically "heavy do-it-yourselfers" and home-improvement professionals.
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"This was a very big strategic move for us," Lowe's chief marketing officer Jocelyn Wong said in an interview with Business Insider.In tandem with the partnership, Lowe's is kicking off a new marketing campaign designed to attract new customers. The campaign specifically targets "heavy do-it-yourselfers" - those customers who take on complicated and highly technical projects - and home-improvement professionals like contractors.
"As we were looking at 2019 and beyond marketing plans we realized we had an opportunity to expand our customer base," Wong said. "We do really well with light-DIY customers and want to expand with heavier-DIY customers."Read more: Lowe's has a new slogan - and it shows how the battle for a key home-improvement market is heating up
Business Insider/Jessica Tyler
This strategy appears to be a direct appeal to Home Depot's customer base. Home-improvement professionals tend to prefer shopping at Home Depot over Lowe's, according to research by Wedbush Securities.
Professional contracts account for 20% to 25% of sales at Lowe's and 45% of sales at Home Depot, Wedbush Securities Seth Basham told Business Insider's Áine Cain.The tagline of the new campaign, "Do It Right," is designed to appeal to customers who take great pride in their home improvement projects and "believe anything worth doing is worth doing right," Wong said.
To reach this customer, the new ads will take on a "grittier" and more "authentic" tone than the company's past campaigns, which were more "whimsical" in nature, Wong said.
"We want Lowe's to be the place for those people who are going to go the extra mile to do it right," she said.
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