PrinceOliver: Harnessing the potential of ecommerce
Tmon, founded in 2010, is Korea’s first social commerce company. Since then, it has expanded into a unique ecommerce company that satisfies just about every shopping need, from fashion and furniture to travel and insurance. Today, it is a sales and marketing platform focused on bringing amazing experiences to both its sellers and its consumers.
Tmon’s primary marketing goals are to bring as many users as possible to the site, drive conversions, and maximize sales. But, the company doesn’t want to simply increase traffic—it wants to selectively bring in visitors who are most likely to make a purchase. It’s also interested in reaching new audiences who haven’t yet experienced Tmon.
To achieve its goals, Tmon partnered with Criteo on app retargeting and app install campaigns.
Tmon’s app retargeting campaign was two-pronged. It retargeted site visitors from the last 30 days who left without making a purchase, and also retargeted short-term dormant customers, who haven’t made a purchase in a while.
The app install campaign focused on bringing in a steady flow of high-quality new users, at a low cost per install (CPI). When demand for Covid-19-related products such as masks surged, the install campaign was integral to introducing Tmon as a solution for new customers in need of those products.
For Tmon, Criteo’s ability to target users across the full funnel, from installs through conversions, was key. By running install and retargeting campaigns in parallel, one was able to feed the other. In fact, 78% of those exposed to the app install campaign were then added to the retargeting campaign. 42% of those who flowed through the app install campaign and made a purchase remained as buyers in the retargeting campaign.
The Tmon team was impressed with the flexible optimization options for the app install campaign. At launch, the campaign was optimizing based on the number of installs. As the campaign matured, Tmon shifted to optimization based on membership events, and then again to a target CPI. This flexibility ensured the campaign could consistently meet their changing goals.
In talking about the optimization, Yeon-Jung Cheong, Performance Marketing Manager, Tmon, says, “We are very pleased that we can increase our cost effectiveness according to our target indicators.”
The ability to target current web users with app install ads was also a plus, and an efficient way to transition already engaged customers to app. “It seems to be a great advantage that you can effectively induce installation by exposing advertisements to users who do not have an app among existing web users,” says Cheong.
Fraud is a major concern, particularly in the app industry. To combat the problem, Tmon introduced a tool called Protect360 which checks the fraud rate for all of its app installation media. When run on the Criteo app install campaign, results showed a close to 0% fraud rate, indicating that the campaign brings in high-quality, clean users.
Tmon will continuously adapt its goals as the market changes. It sees Criteo as a partner who’s agility and collaborative nature will help them successfully pivot.
“In the domestic ecommerce market where we are fiercely competing, we believe that the marketers’ efforts to achieve better results than yesterday are a big concern for every marketer. In particular, if there are customers who are still not using Tmon, the most difficult task is how to make them use our service, provide an excellent experience, and turn them into loyal customers,” says Cheong.
He expands, “No provider has a complete solution to solve the challenge. But with Criteo, we were able to take a step closer to it. Criteo is well-known as a retargeting provider in the industry, as well as providing powerful AI engines and algorithms. In addition, Criteo quickly responded to the changes in the ecommerce market, suggesting the parts needed by Timon and suggesting solutions to the problems in advance. We hope to continue growing with Criteo as a vital partner for online marketing.”
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