Malaysian Media Awards Winners Showcase

2023 | |

Running into the future: NFTs, Virtual Run and psychographic targeting help Coway Run redefine running events and achieve record-breaking ROI

Advertiser: Coway Malaysia
Brand: Coway
Credits: -


Objective & Challenge
Coway, the life care company, which makes home appliances and healthcare products, was the market leader in water purifiers. While also growing its presence in air purifiers and mattress care, Coway was under pressure with new competition like SK Magic entering the market and investing heavily. Simultaneously, existing competitors like Cuckoo, LG, Dyson and Panasonic were offering new improved products, stealing their market share. As the pandemic continued, consumers were spending more to improve their homes. Hence the market potential was significant. This is also why the category’s total ad spend had doubled within 1 year, as the new competitors spent more across more product categories, blurring the boundaries between different brands in the minds of consumers. Coway needed to defend its brand imagery and market share. Coway Run is an annual running event organized by Coway for 7 years consecutively, and virtually during the pandemic. The run promotes health and fitness while raising awareness about the company, its products, and environmental sustainability. To distinguish itself from competitors, and to create better Top of Mind in 2022, Coway Run was conceptualised, and intended to be a 100% physical run where it ties in a Korean-theme festival to engage with the runners and their families, creating longer dwelling time between the brand and the consumers. The event is also in line with Coway’s mission to change lives by upholding greater well-being.

Insight & Strategy
Although Malaysia had moved into endemic era in April ‘22, market insights told us: • 40% of respondents felt it unsafe to gather for large group activities, even though government had allowed events. • With runs in Malaysia being a family activity, safety concerns needed to be listened to. Furthermore, most runs were functional: could we find ways to make this run emotionally connect? • As a life care company, consumers expected Coway to do more, ensuring safety and sustainability • Strong competition from multiple brands organizing runs: AIA, CIMB, IJM, Standard Chartered etc. On average, there were 3-4 runs every month: we needed to STAND OUT from the clutter WE FOCUSED ON 3 SPECIFIC AUDIENCES BASED ON PSYCHOGRAPHICS AND RUNNING HABITS Serious Experienced Runners Motivated by: Prize money, location and course Reached through: eeding Running clubs and groups, nutrition pages etc Casual Runners Motivated by: Activities like art, NFTs etc, Virtual training Unique features along the running course Reached through: Social media ads First time runners Motivated by: Encourage participation, Korean themed street games and prizes that everyone can win (not just the fast runners!) Reached through: social media ads, with different (non running) targeting To stand out, and to provide safety to participants, Coway pivoted its Coway Run and introduced a hybrid model for 2022: consisting of a virtual run alongside physical run, the first ever in its 7 years history Themed UNITE TO CREATE, Coway’s Run would redefine running events! Differentiators to make our hybrid event stand out • Sustainability partnerships and family activities • Virtual running • Co-created art NFTs & auction

We created a unique experience for VIRTUAL+ON GROUND RUNNERS: • Social Media Content with influencers to get casual runners involved • Giant Tunnels allowing runners to experience: o Wind Tunnel : cueing Coway’s Air Purifier o Water Sprinkler Tunnel : cueing Coway’s Water Purifier, while beating the heat o Mist Tunnel • K-Festival with games – reminding Coway as a Korean company offering superior home solution products, with game stations and prizes to engage. • NFT Exhibition – support local artists affected by pandemic, including auction • Coway’s product booths: sales leads generation • Food truck and giant Coway Water Purifier, encouraging runners to hydrate • Coway’s ambassador Mira Filzah, graced the event • To allow virtual runners to also experience: o Co-creation of giant piece of art : runners form their own virtual trail using any fitness app with GPS, the most unique creations will be turned into NFT artworks. o a special virtual badge for every 5km ran for virtual runners, shareable on social media Media Execution to acquire runners Social media ads work to generate ticket sales, but we needed to reduce acquisition cost. While partnering with famous running communities for ticket sales, acquisition platforms deployed were: • Influencer posts • FB IG with conversion objective • Google Performance Max • Static ads help drove volume, while video help drove consideration Targeting 1. Prospecting – we identified three groups of Runners, and targeted differently • Serious runners : Ultra Marathon, Marathon, who wanted to maintain their stamina. Target them for 10km distance. • Casual runners : neighbourhood and park joggers. Target them for 5km and 10km. • First-timer : run for fun, health-enthusiasts. Target for 5km fun run. • Added new segment : gadget and mobile related interests to reach virtual runners (run timed using running app Strava) 2. Custom Audience : re-targeting previous runners 3. Lookalike Audience : prospecting using past years runners’ profile Creative: Aggressive A/B testing : a. 150 ad copies tested in 2 months, from Super Early Bird sales to generic ticketing b. Creative targeting serious runners vs lifestyle runners, Virtual Runners vs Physical Runs

Amazing Results drove business and brand metrics 1. Campaign performance : a Reduced acquisition cost by 63%, 40% more tickets sold via online b A good ⅓ runners participated virtual event, indicating our campaign pivoting strategy is matching consumers’ interest. c Users spend up to 5min on microsite to run through the event details, which is doubled the industry’s 2min average 2. Campaign ROI at 10x, the best ever 3. Participants quality : Dwelling time : 5am to 12nn, a good 7 hours where Coway interacts with runners & families 65% first time runners, bringing new brand engagement, sales opportunity for Coway Virtual runners made up 30% of runners, mostly from outside Klang Valley, providing new markets. PR value >RM 3 million, coverage in 130 publications and TV news, further 50,000 social media contents generated by runners! Best part: Sales leads exceeded KPI, historical record by 50%!