Pop Mart private domain operation method case

At the end of March, Pop Mart released its 2021 financial report. The financial report shows that in 2021, Pop Mart achieved revenue of 4.49 billion yuan, a year-on-year increase of 78.7%.

The adjusted net profit was 1.002 billion yuan, a year-on-year increase of 69.6%, among which the private domain data was even more impressive:

In 2021, Mini Programs had a revenue of 898 million yuan, a year-on-year increase of 92.6%. The number of registered members reached 19.58 million, with 12.18 million new registered members. Members contributed 92.2% of sales, and the member repurchase rate was 56.5%.

Despite the repeated outbreaks of the epidemic, Pop Mart's performance can still maintain rapid growth, which is inseparable from its deep cultivation in the private domain. Let’s break down how Pop Mart’s private domain operates.

1. Case Background

1. Case Introduction

Pop Mart is a trendy culture and entertainment brand founded in 2010.

The Molly blind box series was launched in 2016, and revenue has increased exponentially, which also set off a blind box craze in China.

On December 11, 2020, Pop Mart successfully listed on the Hong Kong Stock Exchange, becoming the "first trendy toy stock."

As of 2021, Pop Mart has 288 stores, including 7 overseas stores.

JD.com and Tmall also achieved revenues of hundreds of millions of yuan. In addition, Pop Mart has also invested in many fields such as Hanfu, animation, and art galleries, continuously building a higher moat and becoming the veritable No. 1 brand of trendy toys in China.

2. Market size

Relevant statistics show that the growth rate of my country's trendy toy market has exceeded the global level.

In the past few years, the scale of China's trendy toy market has increased nearly 3.5 times to 20.7 billion yuan, with a compound annual growth rate of 34.6%.

It is estimated that the market will exceed 76.3 billion yuan in the next five years and exceed 110 billion yuan in 2030.

3. User portrait

Pop Mart’s main users are distributed in first-tier cities such as Beijing and Shanghai, as well as developed coastal cities such as Guangzhou and Shenzhen.

Young people aged 18-29 are the main consumer group, with female players accounting for as much as 75%; users with an income of 8,000-20,000 yuan account for 90%.

In addition, students are also a core purchasing group.

2. Traffic Matrix and Distribution

1. Private Domain

Official Accounts: Pop Mart has four official accounts, namely "Pop Mart POPMART", "Pop Mart Member Club", "Pop Fan" and "PTS International Trend Toy Exhibition". The main account "Pop Mart POPMART" has more than 2 million followers, and there is a drainage entrance to the private domain community in the menu bar.

Specific path: "Join the community" in the official account menu bar - add the welfare officer's corporate WeChat - the welfare officer sends the community link - enter the community.

Mini Programs: Pop Mart has two main mini programs: "Pop Mart" and "Pop Mart Box Machine". In addition to the online purchasing function, the mini program also carries an important private domain traffic entrance.

Specific path: "My" - Join the community - Scan the QR code - Enter the community.

2. Public domain

Offline stores: At the checkout counter of every Pop Mart store, there will be a QR code card to guide customers to join the group, and the store clerks will also guide customers to join the group on WeChat through benefits.

Video Account : The homepage of the video account links the official account, corporate WeChat, and mini program, and all three entrances can be added to the private domain.

The main video content is brand promotion and IP promotional videos. In addition, the video account will also start live broadcasts from time to time, which can not only sell goods but also enhance brand exposure.

Douyin : Douyin currently has 2 official accounts with a total of more than 237w fans. The main video content includes sitcoms and product introductions. Both accounts will start live broadcasts, mainly to sell goods.

Xiaohongshu : Currently, it has more than 361,000 fans, and its main content is introductions to new products and events.

Weibo : Currently has 994,000 followers, and the main content is event promotion, new product introduction, and users' reposts, comments and likes.

Bilibili and Zhihu : These two platforms have a low level of operation. Bilibili currently has 26,000 fans, and its main content is product introductions and user-created content; Zhihu has only 1,100 fans and has not been in operation for 9 months.

3. Dismantling of character IP

1) Personal positioning

Nickname: Not fixed, for example: European Air Delivery Man, Space Observer No. 5.

Avatar: Pop Mart’s IP image.

The private domain operation account uses corporate WeChat, and each employee’s homepage is linked to the video account homepage and mini program to enhance the traffic-generating effect of online channels.

2) Automatic welcome message

After adding through employee corporate WeChat, a welcome message will be automatically sent, and welfare activities and community links will be informed at the first time. Allow users to enter the community as soon as possible, thereby increasing the community entry rate.

3) Moments content

The content of the Moments is mainly divided into three categories: interactive activities, product cases, and activity introductions.

In addition, some content about life scenarios will be released to enhance the dimension of the content in the circle of friends.

4. Community Operation Analysis

1) Community positioning

According to incomplete statistics, Pop Mart has nearly 30,000 communities on WeChat . 90% of the communities are established spontaneously by players, and the remaining 10% are established by some store clerks to maintain customers, and some are maintained by official community operation specialists.

Positioning : welfare group, communication group.

Content format: text, pictures, mini programs, and video accounts.

2) Community management

Welcome message for joining the group: Take the officially operated community as an example. When a user joins the group, an automatic welcome message will be triggered immediately. Inform the community of its values ​​and rules, and direct users to the mini program.

Group announcement: Group announcements will release recent activity information, including specific content and time, so that users can get the latest information at the first time.

3) Community Operation

• Main content: flash sales, preferential benefits, interactive gameplay, daily lucky draws, etc.
• Sending time: 12 noon, 5-6 pm, 7-8 pm, these are the time periods when users are more active;
• Sending frequency : usually 3-5 times/day.

5. Membership system disassembly

Currently, Pop Mart has a membership system in WeChat mini-programs and e-commerce platforms. The mini-programs include growth-type memberships and paid memberships, while JD.com and Tmall only have simple growth-type memberships. Both have a points system.

1) Mini Program Membership System

Growth Members: Pop Mart divides users into 4 levels according to their bubble value. The specific rights and interests are as follows:

Points system: Users can earn points by spending, 1 point for every 1 yuan spent. In addition, points can be earned through daily sign-ins, daily tasks, limited-time tasks, weekly tasks and challenge tasks .

The points earned can be redeemed for coupons and physical prizes.

Paid membership card: Pop Mart’s paid membership is 699 yuan/year, and can enjoy four benefits: new product discounts, double luck, accelerated growth, and member day carnival. The details are as follows.

• New product benefits: In the next 12 months, you will receive a blind box of new products every month, all of which are priced above 59 yuan;
• Double your luck: 2 bubble display cards and 6 bubble reminder cards every month for 12 consecutive months;
• Accelerated growth: The consumption amount in the bubble consumption points will be calculated at 1.3 times, and the reward points will be doubled;
• Member Day Carnival: You will get more privileges and have the chance to get limited edition products.

2) E-commerce membership system

The membership systems of JD.com and Tmall are quite similar, so here we take the membership system of JD.com as an example.

There are 4 levels of membership in total, and different levels enjoy different benefits, as follows:

Member points: 1 point is earned for every 1 yuan spent, and the points can be used to redeem member coupons, merchandise and other items.

3. Summary

Here are some highlights and areas for improvement of Pop Mart’s private domain operations:

1. Pop Mart’s mini program is not only focused on selling goods, but also has gamification and social interactive gameplay such as “online box drawing”, making users more willing to stay in it.
2. Pop Mart has perfected its suggestions in various private channels and its membership system. Except for the lack of certain operations on platforms like Bilibili and Zhihu, it can seize more market share if it starts operating in the future.
3. The 699-yuan paid membership card is relatively expensive, and the main benefits are given to users in installments, so that users do not have too many impulse purchases. You can consider launching a monthly paid card.

Recently, the news that Pop Mart is about to launch a joint venture with Uniqlo has become a hot topic again. We know that Pop Mart is a company that is very good at marketing.

But there are also many users and industry leaders who do not like this kind of excessive marketing model.

Even Tesla’s CEO has publicly stated that he doesn’t like marketing, so is marketing good or bad? Are all marketers big liars?