Establishing Customer-Specific Strategies for 4,000 Products
Category Expansion as Searches for 'Sungeum' Increase
[Asia Economy Reporter Lim Chunhan] The precious metal jewelry brand Goldpang saw its online shopping mall sales increase by 220% compared to the previous year. The average monthly visitors also rose from around 430,000 in 2019 to over 730,000 this year. This synergy effect was achieved by combining Goldpang's product competitiveness with big data-based marketing from the global e-commerce platform Cafe24 Marketing Center.
◆ Identifying loyal customers for 4,000 product types = Lee Yongsoo, CEO of Goldpang, has created numerous hit products through unconventional product planning since founding the company in 2013. As he actively incorporated a flood of ideas into planning, the product range rapidly expanded. The number of products, which was about 2,000 in 2018, increased to around 4,000 by the second half of this year. Although the variety grew, recommending products to individual customers was not easy. This is why CEO Lee actively utilized the integrated marketing of Cafe24 Marketing Center.
They diversified marketing channels to expose products and brands and frequently changed combinations. Instead of focusing on operating a specific channel, the strategy maximized utilization by understanding the characteristics of multiple channels according to products and timing. Each marketing channel contained different storytelling. In this process, aggressive moves such as setting search keywords and promoting expansion on Google and major domestic portals stood out.
As three-dimensional data such as different loyal customer groups and purchase conversion rates appeared for each product, establishing management strategies became easier. It became possible to quantify which products existing and potential customers would be interested in going forward. CEO Lee explained, "I had a habit of analyzing what products the market needed while communicating with customers in offline stores," adding, "Through online channels supported by big data marketing, I was able to see customer responses more clearly and prepare the next plan."
◆ Understanding new product trends through big data = Marketing consulting also helped in new product planning. By identifying an increase in the search keyword ‘pure gold,’ related products were expanded. The background of increasing couple rings and adding specific design products was also based on big data-driven marketing.
Goldpang has also undertaken new attempts in operating its online shopping mall. Currently, it operates a same-day delivery service for jewelry purchases targeted at Seoul, receiving favorable reviews from customers by sharing delivery status in real time. Since 2016, it has raised global awareness by partnering with ‘Rich Garner,’ a U.S. precious metal accessory company.
CEO Lee said, "Today as well, we will deliver the dedication of the craftsmanship experts sweating on our direct production lines directly to customers," adding, "We will continue to grow our business in export markets with uncompromising quality and technical skills."
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