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Danggeun Market is one of the world’s largest and fastest growing online secondhand marketplaces connecting buyers and sellers within local communities. Founded in South Korea, Danggeun Market is driven by a mission to connect neighbors through peer-to-peer local transactions.
In recent years, Danggeun Market has seen tremendous growth – quickly amassing 30 million cumulative subscribers and 1.8 million monthly active users. In order to continue growing their audience base, the company sought to launch full-funnel audience growth campaigns focused on both acquiring even more new users and retaining their existing customers.
Criteo helped Danggeun Market roll out a variety of audience growth strategies across each funnel, focusing on top-funnel acquisition tactics and mid-to-lower funnel retention tactics to attract prospecitve and non-installed users.
Criteo and Danggeun Market achieved their top-funnel acquisition goals through an App install campaign that grabbed the attention of new users, secured first-time installations, and generated new member registrations.
Danggeun Market’s partnership with Criteo also enabled them to launch retention strategies to re-engage one-time at risk customers. Leveraging Criteo’s best-in-class AI and first-party commerce dataset, Danggeun Market was able to segment users based on last visit date intervals showcasing personalized offers that spoke to their open web shopping intent.
Further, Criteo helped Danggeun Market continuously analyze the performance of their acquisition and retention efforts while simultaneously performing A/B tests with other media. Because the campaigns were divided, it was possible to manage and optimize KPIs, target achievement rates, daily budgets, and materials for each campaign much more efficiently.
As a direct result of the partnership with Criteo, Danggeun Market earned 80,000 new subscriptions from their acquisition campaign and retained 750,000 active organic users from their retention campaign – all during the first quarter after launching. The company also recorded a cost per re-engagement that was 31% lower than other media due to efficient campaign operation.
By partnering with Criteo, Danggeun Market could effectively optimize their strategic transitions by setting up audience segments with Criteo’s first party match offering. “Criteo’s full-funnel solution has been effective in driving optimized action transitions based on the user audience,” shared Danggeun Market’s Head of Performance Marketing.
Currently, Danggeun Market aims to grow beyond a second-hand trading platform into a local living community. As a result, the company’s approach to their marketing KPIs and “service growth” are also evolving.
Danggeun Market will continue leveraging Criteo’s audience growth solutions in the future to achieve their business goals. “In the short term, Danggeun Market intends to strengthen our user engagement by leveraging optimized campaign solutions and creatives based on users’ behavior patterns and interests,” shared Danggeun Market ‘s Head of Performance Marketing. “In the long run, Danggeun Market is moving towards ‘Super Hyperlocal Services’ through activating user action in various service areas, such as Danggeun Pay and Business. Criteo’s Commerce Growth solution will serve as the main medium for testing and setting up various campaign structures.”