Dynamic Process Analysis
Lowe's Companies, Inc. stands as a premier home improvement retail giant, offering an extensive selection of high-quality products, expert guidance, and innovative solutions to cater to the diverse needs of homeowners, builders, and contractors. By focusing on customer satisfaction, community engagement, and providing resources for creating ideal living spaces, Lowe's has established itself as a trusted leader in the home improvement industry.
A dynamic process is a process or system that is characterized by constant change or evolution over time, it is not a static process. As referenced from the book, Dynamic processes are flexible, informal, and adaptive processes that normally involve strategic and less structured managerial decisions and activities. We chose to focus directly on the marketing part of Lowe's, primarily social media. Social media has greatly facilitated communication between companies and buyers. Among Lowe’s social media channels, we chose the YouTube channel. Here is the link to their YouTube channel: https://www.youtube.com/@lowes
Lowe’s uses YouTube to support this process from aspects:
A. Product demos and how-to videos: Lowe's creates and shares videos that show its products in action. These videos typically demonstrate how to use, assemble, or install their products. These video tutorials provide valuable information to customers.
B. DIY and Home Improvement Tips: Lowe's YouTube channel offers tons of DIY tips and home improvement advice. They create videos with step-by-step instructions and tips for a variety of projects.
C. Customer Engagement: Lowe's frequently responds to customer reviews and provides timely feedback on their comments. Also hosting live events on YouTube, such as expert Q&As, can engage your audience in real-time and enable instant interaction and feedback.
D. Deals and Promotions: Lowe's often runs marketing campaigns around seasonal events and holidays, such as Black Friday deals and holiday decorating tips. They use YouTube to promote these events and showcase related products.
E. Community Building: Lowe's fosters a sense of community by encouraging viewers to share their DIY projects and home improvement videos and experiences.
A dynamic process is a process or system that is characterized by constant change or evolution over time, it is not a static process. As referenced from the book, Dynamic processes are flexible, informal, and adaptive processes that normally involve strategic and less structured managerial decisions and activities. We chose to focus directly on the marketing part of Lowe's, primarily social media. Social media has greatly facilitated communication between companies and buyers. Among Lowe’s social media channels, we chose the YouTube channel. Here is the link to their YouTube channel: https://www.youtube.com/@lowesLowe’s uses YouTube to support this process from aspects:
A. Product demos and how-to videos: Lowe's creates and shares videos that show its products in action. These videos typically demonstrate how to use, assemble, or install their products. These video tutorials provide valuable information to customers.
B. DIY and Home Improvement Tips: Lowe's YouTube channel offers tons of DIY tips and home improvement advice. They create videos with step-by-step instructions and tips for a variety of projects.
C. Customer Engagement: Lowe's frequently responds to customer reviews and provides timely feedback on their comments. Also hosting live events on YouTube, such as expert Q&As, can engage your audience in real-time and enable instant interaction and feedback.
D. Deals and Promotions: Lowe's often runs marketing campaigns around seasonal events and holidays, such as Black Friday deals and holiday decorating tips. They use YouTube to promote these events and showcase related products.
E. Community Building: Lowe's fosters a sense of community by encouraging viewers to share their DIY projects and home improvement videos and experiences.
YouTube itself provides a powerful analytics platform for content creators and businesses. It provides data on video views, watch time, viewer demographics, traffic sources, and engagement metrics. Lowe's uses this data to understand the performance of its content and identify customer trends.
Lowe's improves its videos and products by understanding the sentiment of Lowe's related comments and discussions on YouTube.
Define your goal:
The goal has always been to engage customers and enhance its brand awareness.
Identify success metrics. Key performance indicators or success metrics are the number of times a video is viewed, and the number of subscribers to the channel. Increases in likes and comments and retweets, as well as video clicks. Therefore, a successful way to increase interaction with customers is to increase the number of live broadcasts. Ultimately expand your influence, increase sales, and gain more support.
Identify the target audience. Lowe's target customers are homeowners, DIY enthusiasts, contractors, home buyers, and budget-conscious consumers.
Define your value. People will receive value from Lowe’s YouTube because they will be inspired to be creative, learn about new design trends, and learn a lot of knowledge and skills for working on a variety of projects.
Make personal connections. Personal connections are made when customers share their DIY videos in the community. Lowe's occasionally partners with celebrities, experts, or influencers in various capacities to promote its products, provide design inspiration or provide home improvement tips.
Gather and analyze data. YouTube offers channel owners a comprehensive analytics dashboard. Check out YouTube Studio and access data on views, watch time, subscribers, audience demographics, and more. By collecting and analyzing data from Lowe's YouTube channel, we can gain insights into the effectiveness of its video content, audience engagement, and impact on the brand.
The goal has always been to engage customers and enhance its brand awareness.
Identify success metrics. Key performance indicators or success metrics are the number of times a video is viewed, and the number of subscribers to the channel. Increases in likes and comments and retweets, as well as video clicks. Therefore, a successful way to increase interaction with customers is to increase the number of live broadcasts. Ultimately expand your influence, increase sales, and gain more support.
Identify the target audience. Lowe's target customers are homeowners, DIY enthusiasts, contractors, home buyers, and budget-conscious consumers.
Define your value. People will receive value from Lowe’s YouTube because they will be inspired to be creative, learn about new design trends, and learn a lot of knowledge and skills for working on a variety of projects.
Make personal connections. Personal connections are made when customers share their DIY videos in the community. Lowe's occasionally partners with celebrities, experts, or influencers in various capacities to promote its products, provide design inspiration or provide home improvement tips.
Gather and analyze data. YouTube offers channel owners a comprehensive analytics dashboard. Check out YouTube Studio and access data on views, watch time, subscribers, audience demographics, and more. By collecting and analyzing data from Lowe's YouTube channel, we can gain insights into the effectiveness of its video content, audience engagement, and impact on the brand.
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