Lowe’s has launched an innovative loyalty program designed for Do It Yourself (DIY) customers to help them save on items they need for their homes and earn rewards for what they want next.

MyLowe’s Rewards pitches the loyalty program to DIY consumers who are preparing to spruce up their homes this spring.

Here are 6 things you should know…

1) MyLowes Rewards

Lowe’s Home Improvement Inc. has developed a new customer rewards marketing strategy called MyLowe’s Rewards.

Launched in January 2024 in select markets, MyLowes is designed to engage consumers with various perks and benefits, which include the following:

• Points earned on eligible purchases toward MyLowe’s Money±
• Free standard shipping with no or lower minimum spend on eligible purchases
• Free member-only gifts– For example, anytime the company promotes a kid’s workshop or has a free plant for mom offer for Mother’s Day.
• Free Lowe’s DIY-U kids and garden workshops
• Savings through exclusive offers and early sales notifications
• Plus, a customized in-app experience that allows members to track their points progress, explore previous purchases, and receive personalized recommendations.
• Plus 5% savings on purchases made with the retailer’s relaunched credit card.

2) The Target Audience

The Lowe’s marketing team geared the entire program toward millennial homeowners—everyone from new homeowners in their first home to homeowners who are more mature with children or have needs and wants for their home.

These homeowners are interested in what their home needs to run daily like air filters, lights, and cleaning supplies.

But they also have ambitions for what they want their home to be someday… They are thinking ahead for the future. Some are thinking about remodeling. Some are thinking about redecorating their home and getting new furniture or getting a backyard patio.

Understanding their customers’ needs (now and in the future), Lowes’ marketing team wanted their customers to be able to earn points every time they made purchases.

They also developed MyLowe’s Money Back, which customers can exchange for those points so that they can use them for the things that they really want for their home.

3) Greater personalization

There’s some gamification involved in the way Lowes developed their reward points. Consumers have preferences they will tell you about if you can incentivize them to tell you about them. So, the marketing team incentivizes their customers with extra points if they tell you more about themselves.

This strategy helped get personalized data that allowed Lowes’ marketing team to develop personalized offers. With detailed personalized information straight from the customer Lowes was able to serve up the right products, the right services, the right offerings, and the right offers to be able to speak to their customers in a way that is meaningful to the customer.

4) Multichannel marketing

For MyLowe’s Rewards to work, loyalty must be integrated into everything you do as a company– everything from TV, radio, digital, and social.

To do this Lowe’s used Google for search ads. Search ads are an important part of how they’re expanding their network for off-site capabilities.

5) Retail support of marketing

Lowes is integrating MyLowe’s Rewards in the aspects of their retail stores– from sales to customer service. It’s integrated into their advertising all the way down to the store associate helping customers at checkout. Lowes’ associates have been fully trained and fully immersed in this marketing program to support its launch and sustainment.

6) Accountable advertising

With this insights-driven retail media network approach, Lowe’s is using closed-loop reporting to understand exactly how consumers are reacting to their advertising campaigns.

This allows the marketing team to pivot against the advertising based on immediate customer feedback. Getting real-time insights allows the marketing team to know how the campaign worked over, say, seven weeks. Depending on the customer data feedback, the marketing team at Lowes can optimize their campaign in real-time and get even more value for our advertisers.

If you would like to learn more about Integrated Loyalty Programs or would like to institute one for your company, contact Michael Oppenheimer by phone at 615-933-4647 or email him at [email protected].