As the brand grew and broke into new product categories, it started facing significant competition from online vendors, big franchises, and international brands. With the growth of the digital channel, competing brands started developing and implementing various email, web and social media initiatives to drive traffic and revenue to their sites as well as their stores. With so many competitors in each product category, Mrs. Fields found it hard to keep track of industry trends and remain ahead of its competition. The brand was challenged in identifying areas of improvement for its marketing plans because it was unable to benchmark its campaign performance against an industry average or a set of key competitors.
To address this challenge and affirm the commitment to providing the most attractive offers to their customers, Mrs. Fields invested in hiring specialists to monitor and analyze competitors’ digital campaigns. The data collection and analysis process, however, proved to be very labor-intensive due to the manual data pulls required for each competitor.” As a result, it was nearly impossible to generate competitive reports in a timely manner and thus enable Mrs. Fields to react promptly to successful competitive campaigns garnering considerable customer engagement and, consequently, revenue
Given Mrs. Fields’ goal to supplement their marketing strategy with competitive insights, Yesmail Market Intelligence was an instant fit. With its ability to monitor, collect, and analyze campaigns across the four most strategically relevant channels identified by Mrs. Fields – email, Facebook, Twitter, and website – Yesmail Market Intelligence provided an immediate return on investment.
Right off the bat, the tool reduced the time spent on generating competitive reports by more than half and made it easier to gain insights by cutting the need for data mining and analysis altogether. By utilizing Yesmail Market Intelligence, Mrs. Fields was able to collect multichannel campaign data and develop competitive insights on a day-to-day (instead of weekly) basis during their busiest and highest revenue-generating season. In addition, because all competitive data is displayed in one place, Mrs. Fields found it far easier to run comparative analysis and pin-point specific areas for improvement. This allowed the brand to reshape its campaigns andrefine its marketing strategy across multiple digital channels in real time. This accounted for better targeted and more informed initiatives resulting in increased revenue.