Expanding Revenue Streams: Conversations at the Forbes CMO Summit
In a world where customer needs shift as rapidly as market trends, staying ahead requires thinking beyond current offerings. At the Forbes CMO Summit, industry leaders—Deirdre Findlay, CCO at Sonos; Jennifer Wilson, CMO at Lowe’s; and Doug Rozen, CMO at Rokt—discussed how brands can tap into adjacent categories to discover new revenue streams. Whether it’s Lowe’s expanding from home improvement into pet care and apparel or Sonos stepping into the headphone market, the conversation highlighted bold moves that enable brands to grow without losing sight of their core. Moderated by Seth Matlins, Managing Director at Forbes CMO Network, the discussion revealed how businesses can leverage deep customer insights and strategic brand alignment to navigate evolving markets and create lasting value.
The power of looking beyond core business offerings
Deirdre Findlay initiated the conversation by challenging conventional marketing perspectives.
“Marketing myopia sets in when only what is in front of us is seen. There is a need to look beyond today’s product line and start considering broader opportunities to create value and drive revenue.”
For Findlay, this mindset shift was so profound that she transitioned from CMO to Chief Commercial Officer in a previous role, empowering her to push beyond traditional marketing boundaries. She reminded attendees that real growth comes from recognizing not just what’s working now, but what could work next.
Earning the right to expand starts with brand strategy
Jennifer Wilson introduced a critical concept—just because customers might grant permission to enter a new space does not mean the brand is ready.
“It’s not just about what customers want; the brand has to align. If the brand promise doesn’t fit the expansion, it won’t resonate.”
For instance, if a low-cost airline suddenly increases baggage fees, it risks undermining its value proposition of affordability. Even with demand, such an expansion wouldn’t resonate. The lesson is clear: any move needs to align with both customer needs and brand DNA.
Understanding customers: behavior speaks louder
Deirdre Findlay emphasized that while customer feedback holds importance, what truly drives expansion opportunities is observing customer behavior.
“Consumers communicate their wants through behaviors, not just words. Observing interactions with the brand can lead to some of the most valuable insights.”
Doug Rozen echoed this sentiment, adding:
“It’s not only about gathering feedback; it’s about analyzing the full customer journey. Every interaction provides data points that can guide us to new opportunities.”
It’s not merely about what customers express they need—it’s about what they demonstrate through their actions. Recognizing these patterns unlocks clues about unmet desires and untapped opportunities.
The evolving role of the CMO
Jennifer Wilson highlighted how the Chief Marketing Officer role is expanding beyond traditional marketing functions. Today, CMOs are tasked with managing media networks, driving ecommerce, and creating new revenue streams.
“The CMO’s role today extends far beyond marketing. It’s about identifying new ways to create value—whether through partnerships, digital innovation, or tapping into new categories.”
CMOs are now key drivers of commercial growth, constantly searching for the next big opportunity.
How Lowe’s transformed into a lifestyle brand
Jennifer Wilson shared insights on how Lowe’s repositioned itself from a home improvement retailer to a lifestyle brand. It wasn’t solely about selling tools; it was about connecting with what customers needed in their lives.
“Lowe’s began as a home improvement brand but recognized a macro trend where consumers sought more. They were purchasing pet food, workwear, even chicken coops—items that reflected a broader lifestyle. There was a significant opportunity to tap into that.”
By embracing categories like apparel and pet products, Lowe’s met the changing needs of millennial and Gen Z customers, creating a richer and more holistic customer experience.
Restraint in ecommerce: the secret to success
Doug Rozen discussed how limitless digital shelves can sometimes do more harm than good in ecommerce. With endless product offerings online, brands can easily overwhelm consumers.
“In a physical store, space limits offerings. Online, there’s no end to what can be offered—but more isn’t always better. The challenge lies in curating the right mix that resonates rather than inundating customers with options.”
Rozen pointed out that offering fewer, well-targeted products can create a more engaging and relevant experience for consumers. He also added:
“It’s essential to focus on the customer journey. Every touchpoint should add value, and if we overload customers with choices, we risk losing their attention entirely.”
This perspective reinforces the importance of intentionality in product offerings and highlights how strategic decisions can lead to better customer experiences.
Balancing bold moves with brand uniqueness
As the panel concluded, all participants agreed that successful expansion stems from remaining grounded in what makes a brand unique while being bold enough to explore new opportunities. Deirdre Findlay summarized:
“It’s not just about knowing customers—it’s also about understanding a brand’s unique strengths. The most successful expansions occur when deep customer insights are married with what the brand is best equipped to deliver.”
The sweet spot lies in blending innovation with authenticity—brands that find this balance will thrive as they venture into new territories.
Check out Rokt’s blog for more updates from our recent events including Advertising Week New York, the Marketers that Matter NYC Forum, and more.