Both executives fill the marketing hole left by Carolyn Tisch Blodgett, Peloton’s former head of global marketing who left the brand in May. Instead of having one chief marketing officer leading the department, Peloton has divided its structure into global branding and product marketing—a strategy several tech firms also deploy.
Peloton, recently named to Ad Age’s annual America’s Hottest Brands list, has only gotten hotter during the pandemic. Homebound consumers eager for exercise turned to the brand’s stationary bikes, justifying the high price as a gym membership replacement, in some cases. As a result, Peloton’s sales soared. In its third quarter, Peloton reported a 66 percent rise in revenue to $524.6 million, noting that its subscriber base grew 94 percent over the year-earlier period. As a result, Peloton said it was pulling back on marketing and re-examining its strategy moving forward as it was able to rely more on word-of-mouth marketing and organic growth.
The company will report fourth-quarter earnings on Sept. 10.
Peloton has also been exploring more creative partnerships in recent months. In May, the brand hosted a live ride with ESPN where viewers could see popular athletes racing on stationary bikes—consumers were so starved for live sports that they tuned in.
Yet, not all of Peloton’s branding has been successful. Late last year, the company came under fire for a holiday-themed ad, created by ad agency Mekanism, that many accused of tapping into a male fantasy of promoting unrealistic health goals for women. Though many consumers complained, the “Peloton Wife” ad did little to dent Peloton’s sales, which rose during the crucial holiday selling period.