HOW MIGHT WE MAKE MY GREAT RECIPES THE LEADER OF THE DIGITAL RECIPE SHARING SPACE IN THE US MARKET?
IMP - International Masters Publishers creates and promotes cooking related products (recipes, hobbies, home entertainment and education). Decreased demand for the company’s’ physical products motivated them to create a digital platform for search and share recipes MyGreatRecipes.com (IMP Digital). The entrance into this dynamic and highly competitive market resulted in a quick launch of mobile apps and web platform MyGreatRecipes in the US market. The app and website help consumers search 100.000+ great recipes, save recipe favourites, create new recipes and share recipes with family and friends. The collaboration between Solveo and IMP Digital was inspired by the need for the rapid exploration of ways to increase the user base of the MyGreatRecipes platform and to find new ways to engage with the existing users. Additionally, IMP Digital was looking into potential opportunities to monetize the platform.
GOALS AND OBJECTIVES
1. Conduct market research, competitors analysis
2. Discover core values and unique selling points
3. Brand audit and problem discovery
4. Identifying target consumers’ needs and behaviours
5. Strategy for engaging current and gaining new users
6. Develop a monetisation strategy
PROCESS AND INSIGHTS
During the four week project, four multidisciplinary teams of five participants were guided by the team of Solveo in creating strategies to increase the platform’s user base, to engage with the existing users and discovering ways to monetise the business. The project launched with a detailed brand audit/analysis of the current status: number of new users, number of regular users, current marketing strategy, UX and UI of the platform. By diving into market research, each of the teams identified specific problems to tackle to which they offered solutions. During the project, the participants surveyed more than 300 people, analysed more than 20 competitors, got in touch with 20 industry experts and delivered backed solutions.
The first step, before providing a solution was to identify the key problems that the business is facing. Having identified that the 2 main problems are low brand awareness compared to competitors, low user engagement and and by identifying a new market opportunity, the teams created their solutions.
First to increase brand awareness, the solution is to increase social media interaction with food facts, to add a calorie calculator to the platform and to introduce regular video engagement.
Second, to improve customer engagement the winning solution proposal was to create a culinary show featuring the users. Lastly, one of the teams identified a new potential market segment being mothers with kids or babies. The solution is to create a new category with baby/child food which would attract and engage new audience.
1. As the teams identified potential issues in the UX and UI of the platform, after the project the platform was redesigned
2. Social media engagement:
230% growth in facebook likes
180% growth on instagram followers
3. Created video content and food facts
4. Opened Youtube Channel
5. Content marketing: launched a food blog / 60+ blog posts