[Pets] The Growing Pet Economy: How to Build a Long-Lasting Fan Base

#7

From MyBep maker Kim Jin-seop
"Pet Funding: A Success"

"MyBep" Maker Profile

3-Line Summary

• MyBef, a company that offers pet supplies, turned to wadiz to give new customers the opportunity to try their products before the official launch.
• Just as one would introduce a health supplement, they detailed the ingredients, benefits, and nutritional content of their pet food in a compelling Story.
• As a result of transparently disclosing product information, MyBef received rave reviews from pet owners as a brand they “trust to feed their pets,” achieving cumulative funding of over 300 million won and a satisfaction rating of 5.0. This also helped them build a loyal fan base that has stayed with the brand for years.  

MyBef: A brand that makes time with your pet even more enjoyable

Q. Hello. Could you please introduce MyBep? 

Hello. We are MyBep, a brand dedicated to making life with pets more enjoyable. The name MyBep is a combination of the first letters of “My” (meaning “my”), “Veterinarian” (meaning “veterinarian”), and “Friend” (meaning “friend”). It embodies our desire to be a brand that is as professional as a veterinarian yet as friendly as a friend. 

Our brand was founded by a veterinarian who wanted to care for pets even in places they couldn’t reach personally, along with a pet-loving CEO and our team members. We started with pet food because we believe it’s the product most directly linked to health—one that allows us to take care of pets before they get sick—and we’re now also creating home living products. We aim to create a world where pets and their owners can live happily together, and where even those who don’t own pets can feel comfortable and included,so we plan to introduce an even wider variety of products and services in the future.

Q. Your message, “We will strive for positive change in pet culture,” really stuck with me. What is the ideal culture that MyBef envisions?

It’s a culture where pet owners and non-pet owners respect each other’s different lifestyles and coexist harmoniously. South Korea’s pet market has grown incredibly rapidly. As a result, there are gaps not only in institutional frameworks but also in cultural and emotional understanding. Typical examples include differences in perspective between pet owners and non-pet owners, as well as conflicts related to “petiquette” (pet etiquette). I believe this gap must be narrowed to achieve our brand motto, “A Joyful Life with Pets.” So we’re starting with what we can do, and one of those efforts is disclosing product ingredients.

Unlike human dietary supplements, which are regulated as “health functional foods” and undergo scrutiny regarding ingredients, content, and even advertising, pet food is not subject to any established legal framework, so there is no legal obligation to disclose ingredients. However, since pet food is essentially food, we believe consumers have the right to know its ingredients, and that greater knowledge leads to better choices—which is why MyBef transparently discloses this information. We believe that if a culture emerges where consumers carefully evaluate products to find better options, the regulatory framework and social awareness will evolve accordingly.

The wadiz funding campaign that helped us connect with our current brand fans

MyBef, which has launched various products through funding

Q. You’ve pre-launched a great many products on wadiz so far. How did you first learn about funding?

I first learned about funding while taking an entrepreneurship class in college. I then started my first business, but as a college student, my budget was limited. So, to raise funds, I researched various options, including government support programs and funding. Among these, funding was particularly appealing because it allowed me to raise capital based solely on an idea for a product or service and use those funds to bring that idea to life. Although it didn’t lead to funding at the time, the experience I gained from that research allowed me to introduce MyBef to wadiz. 

Q. You’ve run a total of 11 funding campaigns. What has been the driving force behind your consistent success? 

It’s all thanks to our supporters who have provided funding from the very beginning, and even more so, to those who have become fans of our brand.Atofflinetrade shows and in product reviews, I’ve met quite a few people who said, “I tried it on wadiz, and I’ve been using it consistently ever since.”Among them were people who didn’t know about MyBef, those who knew about it but had never purchased it, and those who hadn’t used it for a while—though their situations varied, they all shared the common thread that their connection with us began through our funding campaigns.

After meeting these people a few times, we’ve started unveiling our new products first on wadiz before launching them for general sale. At first, some people found the concept of funding a bit confusing, but after running a few projects, our customers seem to have become much more familiar with it. The results have been positive, and since funding allows us to meet new supporters, we plan to continue doing this consistently in the future.

“A Single Trial” That Leads to Repeat Purchases

Participating in pet expos to provide “hands-on” experiences

Q. I’ve heard that comments from users are especially important for pet products. What efforts does MyBef make to gather comments?

When launching a product, the biggest hurdle and final testis whether “dogs and cats—who can’t speak—like this product or not.”That’s why we “hands-on experiences”is truly important to us. Not only do we conduct multiple palatability tests to determine the flavor, but once samples are ready, we organize trial groups across all channels—from our website and social media to offline expos. The message is: “We’ve opened up plenty of spots so you can experience this transparently developed product firsthand. Give it a try, and if your pet likes it, please come back for more.”

How we ran a trial group and utilized product reviews during the [MySchlanger] cat wet food funding campaign

wadiz Funding Trial Groupwas part of the same strategy. Unlike other channels where applications mainly come from existing fans, it was great to see new people applying. Since we can display user reviews on the Community tab and it seems to help with conversion rates, we plan to use this approach again in the future.

Q. It’s clear you’ve put a lot of thought into boosting the funding campaign from various angles. Looking at your past projects, you’ve offered large-scale Rewards like the “Large Family Set” and the “1-Year Plan”—is there a specific reason for this?

When we make our products, we don’t prefer bulk or large-volume packaging. Since food begins to oxidize the moment it’s opened, high moisture content can lead to spoilage and make the texture harden. So, rather than producing bulk products that might not taste good to children, we opted for smaller packages that preserve taste and quality—even if it means higher production costs. However, we know that households with multiple dogs or cats, or those who consistently feed their pets the same product, might need larger quantities, so we’ve diversified our Rewards options.Since we can’t increase the volume ofa single product, we naturally increased the number of items included. 

A wide range of Rewards options with varied quantities

This benefits both us and our supporters. Offering rewards in larger quantities allows for additional price discounts, so supporters can get the product at a reasonable price, and since our average order value increases, we can scale up the funding campaign.This is especiallyhelpful when we’ve simply expanded our product line by revamping existing products or adding new flavors. After all, regular customers will participate in the funding without much hesitation. If your product has already proven popular with children, it might be a good idea to offer large-volume Rewards.

Q. You’re also selling products from funding campaigns that have concluded on the wadiz Store—what advantages do you see in the store as a maker?

I thinkthe Store is a great platform for reaching frequent wadiz users. 

Since you’re already familiar with the UIand payment systems are familiar to them, so the purchasing process is straightforward. It can also help with brand exposure. In fact, just because supporters participated in funding doesn’t mean they’ll all visit your brand’s online store or make repeat purchases. 

However, by keeping a wadiz Store open, you can catch the eye of people who may have forgotten about your brand—even just once—and I think that lead to repeat purchases. Another advantage is that you can reference the reviews from the funding campaign. When choosing a product, people tend to look at existing users’ comments, but new products often lack reviews. In such cases, having funding reviews provides a vivid account of the user experience, which helps build trust. Since it doesn’t require a lot of operational resources and only minimal management is needed, it’s a very convenient channel for makers.

The Efforts Behind Becoming “MyBef—a Brand You Can Trust”

Q. I imagine that the transition to store sales was possible because the product’s quality was proven. How does MyBef identify product needs and improve product quality?

We use a wide variety of channels to hear directly from pet owners, who are closest to their pets.

First, since all of our team members are pet owners themselves, we draw ideas from within the company. Since sharing stories about our pets—whether bragging about them or discussing challenges—is part of our daily routine, many great ideas naturally come up during these conversations. We also take into account requests from fans who ask through our consultation channels, such as “Is there a product like this?” and use social media events to directly solicit comments. Beyond that, we thoroughly review everything from online communities and blogs to global trends. 

From internal meetings to academic papers, we review ample data to develop a single product

Once we’ve established the framework and are working out the details, we primarily refer to academic papers.We assess whether the product is safe fordogs and catsand what benefits it offers, and we select ingredients by reviewing data from domestic and international food and drug regulatory agencies. Finally, we look for a manufacturer that understands our concept. Since the final product varies depending on the partner, we don’t just look at whether production is possible—we thoroughly review their technical capabilities and certifications.

Q. That process seems like it would take quite a long time to develop a single product. What do you consider most important when launching a new product?

As I mentioned earlier, our  “joy”, so we think carefullyabout what kind of joy this product can bring. Andwe believe that joy encompasses more than just a big smile—it also includes the satisfaction of having a need met and the delight of having gone the extra mile.

Taking the snacks that started MyBef as an example, we defined the joy a “pet snack company” can provide as the moment of sharing a treat. Since the person giving the treat is happy when the pet enjoys it, we wanted our pets to love the taste, and gradually added conditions like “I wish they were healthier” and “I wish they were made more honestly.” Trying to meet all these criteria sometimes extends the production period so much that it takes 2–3 years before a product is officially launched. The process of designing products based on scientific evidence and repeatedly conducting palatability tests to suit their tastes isn’t easy, but since it’s for our precious pets, we refuse to compromise. 

 Q. These days, advertising is just as important as product quality, so there are many cases where companies promote the fact that a veterinarian was involved in product development. Even though a veterinarian was involved with MyBef, you don’t seem to emphasize this—is there a reason for that?

I hope you’ll see this as a result of combining the veterinarian’s personal style with our brand’s identity. The veterinarian who collaborates with MyBef on product development used to share accurate pet care information and offer advice to readers on their personal blog. Even during the height of her blogging activity, she preferred to care for pets behind the scenes, so we’re doing our best to respect her wishes.

 The message “Developed in collaboration with a veterinarian” could certainly be effective from a marketing perspective. However , rather than emphasizing authority or sensational elements, we want to come across as friendly and warm—just like our brand name— so we don’t use it as a key advertising message. Since consumers tend to respond more positively to familiar, everyday stories, we intend to continue upholding MyBef’s unique identity. 

If you share your brand’s story with sincerity,
you’ll be able to gather supporters who’ll stay with you for the long haul.

Kim Jin-seop, Director of MyBef

Q. The market has grown so rapidly that a term like “Petconomy” (Pet + Economy) has emerged, and there are predictions that it will continue to expand. Within this context, what kind of brand does MyBef aspire to be?

I don’t think the pet market is one where products sell simply because they’re good.Since boththe buyer andthe actual user—the pet—must be satisfied, we need to offer value beyond that. At MyBef, we’ve defined that value as “joy.”

To convey this in various ways, we not only create products that are healthy and visually appealing but also develop content that brings fun—even if it’s unrelated to our products. Examples include events where we draw portraits of pets or create custom phone cases. 

While these events don’t directly translate into immediate sales, we focus on the fact that they create a sense of always being with their pets and provide pet owners with unforgettable memories . We believe that as these experiences accumulate, they turn people into brand fans, creating a virtuous cycle where they’re eager to engage with new products.Rather than simplybeing a seller who sells something, I want to be a brand that’s like a friend—one that communicates with pet owners and shares their lifestyle.

Q. Finally, please share a few words for aspiring makers looking to launch a pet-related funding campaign on wadiz.

Rather than focusing on raising a high funding goal,I recommend using the campaign as a way to build a community of true fans who will join your brand’s journey. wadiz allows you to tell a rich Story—you can share the moment you realized the need for your product, the trial and error involved in addressing a pain point, and your personal struggles and efforts. So, I hope you’ll convey these stories effectively to resonate with pet owners. This is a community where people focus on the value of the product rather than brand recognition, so I believe that if you show your brand’s sincerity, you’ll be able to build strong relationships with each and every supporter. 

Moving forward, MyBep plans to introduce a variety of products—including home goods and apps—that will enhance life with pets. We aim to become a brand that pet owners can confide in, like a best friend. Even if we take things slowly, we’ll return with products of the highest quality, so please look forward to what’s to come and keep cheering us on. Thank you.

Interviewee Kim Jin-seop, Director
Text Jeong Da-hye Editor Han Ji-hye