Peloton has restructured its marketing function, changed its operating model and identified new customers. Its CMO, Lauren Weinberg, believes it will pay off.
By Molly Innes
Peloton is set to further reduce its marketing spend while steering away from heavy promotions, marking a strategic shift in response to ongoing financial challenges.
Lauren Weinberg will replace Leslie Berland as chief marketing officer after just two months leading marketing at Intuit.
When CEO Barry McCarthy joined Peloton last year, he found a company relying on price promotions to drive growth. Now the company is investing behind a more diverse range of levers, including a relaunched brand.
Current group data and media director Matt McLellan will assume responsibility for the retailer’s marketing, customer and data teams.
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The retailer says future investment in digital and above the line campaigns will be “higher”, as it hails “good” results from its first UK TV push.
The co-founders are calling for independence from a new ice cream division spun out of Unilever to enable Ben & Jerry’s to “honour its mission”.