“2024 Startup Platform – WadizProject
Leveraging a Strong Supporter Fandom as Seed Capital
Case Studies of Expanding into Subsequent Distribution Channels UsingWadiz as a Launchpad
Sharing Know-How on Leveraging Supporters Unavailable on Other Platforms
Does this really make money? We’re talking about Wadiz. Leveraging the unique characteristics of crowdfunding, Wadiz“supporters” are serving as a solid source of seed money. Wadizacts as a community that connects these supporters with brands. Thanks to this, it’s not uncommon to find examples of brands that have succeeded by riding the wave of their supporter fanbase. Here, we share success stories of brands that secured seed money Wadizand went on to expand into subsequent distribution channels.
According Wadizon the 6th, a number of successful brands have emerged in the past six months (the fourth quarter of last year and the first quarter of this year) based on cases where brands have entered secondary distribution channels alone. These include ▲Recipe N Co, ▲Pisco Korea, ▲J.Dot, ▲Defenso, ▲Mediviti, ▲Begin, and ▲Foren.
Among these, J.Dot, a brand specializing in Christmas trees and jewelry, has secured more than 3.3 billion won in cumulative funding. The brand achieved 200 million won in sales through TV broadcasts and other promotions as part of Lotte Home Shopping’s seasonal product lineup.
Riding on the popularity of its high-concentration ampoules and serums, which have secured over 2.6 billion won in cumulative funding, Mediviti is on a roll, having achieved all of its sales targets in the first quarter through mobile live commerce on Hyundai Home Shopping and GS Home Shopping.
Pisco Korea is a household goods brand that sells products such as kitchen scissors and package cutters. Its cumulative funding Wadiz exceeds 300 million won. After entering the markets of Hyundai and CJ Home Shopping late last year, the brand sold out its entire inventory in just 30 minutes, generating 200 million won in sales, and has emerged as a brand with a promising future.
Among these, the Foren brand (company name: Diggimi International) has emerged as a champion of Wadiz.
Foren, a distributor of premium German bedding, is a star brand that has consistently ranked first in the home living category. As of the end of last year, the company had achieved cumulative sales of 1 billion won Wadiz, and building on this success, it has recorded high growth with a 210% increase in sales, reaching 3.1 billion won. Selected as a brand for intensive development by CJ Onstyle, Foren made its home shopping debut with a show hosted by Kim Jae-woo.
Kang Ji-jun, CEO of Diggimi International, emphasized,Wadizoffers the advantage of boosting brand awareness and raising tens of millions of won in funding in a short period, which can then be used as seed capital.” He added, “It allows us to gain confidence in our products and determine our business direction based on the products that have succeeded Wadiz.”
Here is a summary of why CEO Kang recommends Wadiz.
1. Launch a brand with minimal capital
Since crowdfunding allows for product manufacturing through a "made-to-order" model, you can launch a brand (or product) with just a minimal investment and an idea.
2. Brand Management and Performance Metrics
We actively welcome a wide range of feedback on our brand or product offerings, which we use as a basis for developing better products and services.
3. Potential for Building a Brand Fandom
The platform includes features that allow users to follow makers and projects, and since successful projects can maintain ongoing communication with their supporters, this environment is conducive to building a brand fandom.
4. Potential for Fast Investment
Depending on the performance of your project onWadiz, you may be able to secure investment. A key advantage is that decisions (regarding investment) can be made and the process can move forward quickly without requiring significant resources or input for investor relations (IR).
5. Incubator & Booster Programs
After receiving investment, companies can continue to receive ongoing support and assistance in various areas, including sales infrastructure, manufacturing (such as loans for manufacturing costs), and marketing.
“We’re sending out (brand details) to those who have shown interest in our product, participated in the funding campaign, or clicked ‘Wishlist.’ We’re also posting updates to facilitate test groups before the product launch. Most makers find it difficult to receive questions about their products and respond to them. On other platforms, such features are paid. Wadiz, however, it’s free to send updates to those who have expressed interest (supporters). When creating a new product or checking satisfaction levels, using ‘New Updates’ instead of sending emails is efficient and cost-effective for makers. That’s why we’ve been utilizing this feature.” (Regarding how a 10-billion-won maker uses ‘New Updates,’ Kang Ji-jun, CEO of Diggimi International)
(Original: “Dig intoWadiz and Make Seed Money in a Flash: Here’s How to Brand Your Business”)
