Home Depot Value Proposition

 

You can stay connected with The Home Depot on various digital platforms:

§  Twitter                                        

§  Pinterest                    

§  Facebook

§  Instagram                   

§  YouTube                     

§  App from your smartphone’s App store

Birkner (2017), quotes Home Depot’s CMO, Kevin Hoffman, “We help you save time and money and turn a house into a home” (para. 13). The Home Depot’s current motto is “More Saving, More Doing,” which debuted in 2009. This tagline perfectly describes The Home Depot’s value proposition of more for less.  According to Birkner (2017), Home Depot wants to the be the place that consumers can rely on to find everyday low-prices and the best brands, products, and selection.

   

Already offering lower prices and the best products and selection, Home Depot also provides employees who are ready to help and guide customers. Home Depot (2016), states that going the extra mile of providing knowledgeable advice to customers so they can use their new products to their maximum benefit is a must. For professional customers, Home Depot CMO, Hoffman, states how the marketing challenge involves thinking of “How are we helping them make money on their job?” (Birkner, 2017, para. 7).

                The Home Depot’s employees’ knowledgeable advice doesn’t end once you leave their store. You can get advice and guides through their website and social media pages. The Home Depot website offers DIY digital workshops, their YouTube channel has “how-to” videos, and their Pinterest page provides many home renovation and interior design ideas. According to Birkner (2017), there is even a feature on their app that lets you virtually try out products. You can take a picture of your walls and try different paint colors to see which would look best. Features like this help consumers make decisions faster and have more confidence in their purchase. If you weren’t already working on a home project, scrolling through The Home Depot’s “DIY Ideas” posts may just inspire you to start one.

                The Home Depot has a large following on social media with over 4 million likes on Facebook and 370 thousand followers on Twitter. Home Depot stays engaged on their social media platforms, posting tips and articles that are relevant to their customers. Strefis Team (2017), mentions how Home Depot experienced great growth in revenue and earnings per share in 2017 with the help of their strategic initiatives such as their seamlessly connected online and offline channels. Strefis Team (2017), states that Home Depot had an increase in online sales in 2017 and, thanks to their integrated retail strategy, 45% of online orders are picked up in stores.

                                                                        References

Birkner, C. (2017 April 10). Home Depot now makes $5 billion online, but a stellar store experience remains top priority. Ad week. Retrieved from: http://www.adweek.com/brand-marketing/home-depot-stakes-its-claim-on-construction-pros-and-average-joes/

Home Depot. (2016). Our Values. Retrieved from: https://corporate.homedepot.com/about/values

Trefis Team. (2017 May 30). A closer look at Home Depot’s growth strategy. Forbes. Retrieved from: https://www.forbes.com/sites/greatspeculations/2017/05/30/a-closer-look-at-home-depots-growth-strategy/#189fa28d2e76