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Started back in 1977 by a young mother with no business experience, Mrs. Fields has become one of America’s most iconic and beloved brands. Beginning with a single storefront in Palo Alto, California, Mrs. Fields has expanded to over 300 retail locations in the US and another 22 stores worldwide.
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.
The ability to track and assess our competitors’ efforts is vital for the success of our digital campaigns. Yes Lifecycle Marketing's Market Intelligence tool is quick, simple, and self-explanatory, and delivers on all of our competitive reporting needs.”
Cassie Alvey, Vice President & General Manager
Given Mrs. Fields’ goal to supplement their marketing strategy with competitive insights, 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 – 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 Yes Lifecycle Marketing's Market Intelligence tool, 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 and refine its marketing strategy across multiple digital channels in real time. This accounted for better targeted and more informed initiatives resulting in increased revenue.