Walmart (NYSE:WMT) announced that it would reshape its marketing team to include media purchasing for suppliers. The strategic move is part of the retailer's larger effort to keep its vendors at the forefront of the growing digital marketing space.
At a meeting with 200 supplier marketing executives, Walmart U.S. Chief Marketing Officer Stephen Quinn discussed the details of Walmart Exchange, or WMX, the new program that focuses on digital targeting, buying and optimization platforms, reported Advertising Age.
"We're going to bring a lot more tools that our vendors can use with Walmart that will make their digital marketing a lot more effective," Quinn told Advertising Age. "If you think of a P&G and Samsung, it lets them see that their marketing is actually having an impact at Walmart, and we're able to speed up reporting in real time. It's pretty much a holy grail for us as marketers."
Quinn explained that the larger focus is on digital technology and social media. Wanda Young, Walmart's chief digital executive, recently had her duties expanded to include VP of media and digital marketing. Young will work with Brian Monahan, VP of marketing at Walmart.com, to head up WMX.
Young and Monahan are just a few of the executives at Walmart adopting new roles as CEO Doug McMillon seeks to stimulate alignment with new priorities.
Walmart currently works with MediaVest in buying Walmart digital ads, but it's not yet clear if MediaVest will also be involved in supplier buys.
-See this Advertising Age article
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