Case Studies

Karrot Elevates Real Estate Launch With Moloco’s Full-Funnel Solutions

By:
Dongkwon Yoo

July 15, 2025

About Karrot

Karrot (also known as Daangn) is Korea’s leading local community platform with over 20 million users. While it began as a secondhand marketplace, Karrot has since expanded into a hub for hyperlocal services, including job listings, community discussions, local news, and real estate.

Karrot Real Estate emerged organically as users began posting property listings in the secondhand feed. Staying true to its vision of “unlocking hidden value by connecting everything local,” the service offers authentic, community-based property information centered around actual residents and local living.

Challenge: Driving Awareness for Karrot’s New Real Estate Service

Although Karrot Real Estate showed early promise, many users were still unfamiliar with it. The team needed to raise awareness and spark curiosity, without sounding like an ad. The primary audience was users in their 20s to 40s, and the goal was twofold: drive awareness and guide users to meaningful actions like exploring listings or starting a chat.

But there was a catch. If the message felt too much like a typical ad, engagement could drop significantly. Karrot needed a way to introduce the new service that felt organic, not disruptive.

Solution: Using Moloco MSM and Ads to Generate Awareness and Drive Engagement 

Karrot implemented a campaign strategy that combined OTT advertising powered by Moloco Streaming Monetization (MSM) with mobile retargeting through Moloco Ads. The OTT campaign supported brand awareness goals, while re-engagement campaigns through Moloco Ads retargeted existing users and guided them toward service adoption, allowing Karrot to strategically connect with customers at every touchpoint along the journey.

1. Expanding Awareness of the New Service With OTT Advertising on TVING

Karrot selected TVING, one of Korea’s leading OTT platforms, to boost awareness of its new real estate service. With broad reach and immersive ad delivery, TVING allowed Karrot to deliver its campaign message in a natural, non-intrusive way. The campaign used flexible budgeting and targeted popular shows among users in their 20s to 40s, ensuring the message landed with the right audience.

2. Driving Conversions by Reconnecting with Users through Moloco Ads

Moloco Ads played a pivotal role in turning brand exposure on TVING into real performance outcomes through a re-engagement campaign. Following the OTT campaign, Karrot used Moloco Ads to retarget Android users who had seen the OTT ad. The mobile campaign was optimized for actions like "Explore" and "Chat."

Moloco’s advanced AI leveraged Karrot’s first-party data to precisely identify high-intent users and serve highly targeted ads. This helped Karrot move beyond awareness to conversion—all while maintaining a user-first experience

3. Creative Testing and Targeting Based on User Behavior

Karrot ran a series of creative tests to refine the performance of various creative elements such as video intros, immersive messaging, and branded content. Early versions of the creative with phrases like “Attention, real estate seekers!” and “Don’t miss this real estate news” led to higher skip rates. This insight led to valuable learnings about creative direction and message design, ultimately contributing to performance improvement.

Karrot also enhanced targeting precision by segmenting paid user traffic based on in-app behavioral data. Additionally, by leveraging its in-app CRM data, the team built a more personalized retargeting approach, further elevating campaign outcomes.

Clip from Karrot's video ad: 'Attention, real estate seekers!', 'Real estate news you don’t want to miss!'

Results: A Seamless Funnel from Awareness to Action

By connecting MSM-powered OTT advertising on TVING with mobile retargeting via Moloco Ads, Karrot successfully designed a clear funnel from brand awareness to conversion. The campaign proved that integrating branding and performance into a single, seamless flow can drive tangible results.

Karrot’s experimental creative testing and data-driven approach also played a critical role in maximizing overall performance.

Brand Campaign Results

  • 37% video completion rate (VTR): More than 2x higher than the average of other media at 18%
  • 11 percentage point lift in core audience (30s) reach vs. other media
  • Highest number of first-time visitors to Karrot Real Estate across all brand campaigns.

Retargeting Campaign Results (vs. previous re-engagement campaigns)

  • 11x increase in 'Chat' conversion rate 
  • 43% lower D14 cost per action (CPA) in 'Chat' conversion

By leveraging the strengths of OTT advertising—consumed seamlessly like regular content—we were able to deliver our brand message in a way that felt natural and engaging. Moloco Ads' powerful retargeting capabilities helped us seamlessly connect branding with performance. On top of that, our data-driven insights and the Moloco team’s fast, flexible collaboration played a key role in driving results. — Woojung Jang, Performance Marketing Manager, Karrot

Customer

Karrot

Headquarters

South Korea

Industry

Marketplace

Product

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