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----Marketing thinking behind the WeChat Lucky Money Name: He Nan Student number : 26855429 Title of degree and pathway : Master of Global Media Management.

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Presentation on theme: "----Marketing thinking behind the WeChat Lucky Money Name: He Nan Student number : 26855429 Title of degree and pathway : Master of Global Media Management."— Presentation transcript:

1 ----Marketing thinking behind the WeChat Lucky Money Name: He Nan Student number : 26855429 Title of degree and pathway : Master of Global Media Management Date : 18th May 2015 Personalized marketing

2 More than 110 kinds of version Global total registered account number Active accounts monthly Cover more than 200 countries and regions WeChat

3 WeChat Lucky Money A mobile-payment feature that developed by Tencent and launched on January 27 th, 2014. Made breakthrough in the 2015 spring festival.

4 Giving the lucky-money and word wishes to individuals or in own groups to friends. Paying the amount through the ‘WeChat payment’ system. During the short term of a spring festival, there were 200 million of bankcards that were successfully bound to Tencent.

5 Research method Ethnography P2P Interviews Observations 20 Chinese international students starts from New Year’s Eve to the seventh day of the lunar New Year

6 WeChat’s general marketing methods Research Findings Drift Bottle People Nearby Scan QR Code Shake Public Platforms--Subscriptions Propelling advertisements through Movements WeChat Lucky Money activities key characters Humanized marketing, with properly controlling the mental activities and behaviors of customers.

7 Personalized marketing behind WeChat Lucky Money Electronic commerce and mobile payment, which has been popularized for a period of time, would positively impact WeChat, which has a large number of popularity and creditability. The operation process of WeChat Lucky Money is sample, convenient and intuitive. The lucky money can be given to the group or individuals. Additionally, the luck flight group is much more popular. The system will generate the lucky-money envelopes with different amount of bonus by random algorithm after user set both the number of envelopes and the total amounts. People who grab the lucky-money envelope scan withdraw the amount from own debit cards. Creditability Convenience

8 WeChat has a great social communication chain, which is also called the link and flow of people. The WeChat Lucky Money, which is more like a social communication game that adopts random algorithm to allot the amount in each lucky-money envelope. And hence people who grab the lucky-money envelopes would receive different amount of money. This concept of sending random amount contained lucky- money envelopes leads flaunt, upset, topics, and stimulates the initiative sharing and communication of users. The value of social communication

9 Nowadays, gamification is a better way to stimulate the desire of communication in young people. Especially, money is involved in the process of gamification. Additionally, Grabbing lucky-money envelopes would bring forward an instant activity in the WeChat groups, and stimulate the desire of communication. The key idea of the viral marketing is to utilize customer to promote products to other customers. Gamification Viral marketing

10 Research about the mental activities and behaviors of customers Initially, the WeChat payment is promoted to various online communication platforms such as websites, micro-blog by several methods include the user-generated content and self-diffusion, utilizes the interaction between these platforms to spread its influences. Secondly, it is important to seize the mental activities of users, Therefore, it is also defined that the activity of the WeChat Lucky Money is the personal experience, emotion and empathy of users. In addition, the WeChat Lucky Money becomes a marketing tool to some enterprises, Some enterprises prepared numbers of envelopes with equal amounts, and utilize this postscript action to enforce users to leave the messages such as ‘the best wishes to XX corps.’ once they grabbed the envelopes.

11 the marketing of WeChat Lucky Money under the mobile network environment predominance and weakness analysis

12 Predominance analysis Since the WeChat Lucky Money has been launched, there is nearly no negative feedback from users. As WeChat is an application for social communication. The WeChat Lucky Money feature can only be achieved depending on the developed network relationships of its mother platform, WeChat. Facilitating the marketing of business for searching and locking the group of target clients. Excellent platform and Low Cost contentsdiversified form of the WeChat Lucky Moneyflexible amount in the lucky-money envelopmysterious Raise the interests of users Word of mouth

13 weakness analysis The popularity of grabbing lucky-money envelopes would trigger the formation of a complex and messy situation to the network. Iphishing websites for grabbing lucky-money envelopes, mobile phone Trojan, phishing WIFI, friend impersonation, would threaten to the security of bankcards. A short time of development The business would only gain a little amount of financial outcome by using the WeChat Lucky Money for marketing in this short term. This time for business promotion through the WeChat Lucky Money is limited. The way of mobile payment and the marketing strategy of lucky-money are easily to be duplicated. In other words, the usage of WeChat payment and its cooperative business would be threatened once the WeChat payment is outdated or it is instead by other fresher marketing tools. Fierce competition Security problem

14 Conclusion The innate character of the product marketing thinking of the WeChat Lucky Money. The product marketing strategy depending on the Internet thinking. designs of business model and product line product development brand positioning business development customer services Enterprises Making great efforts on the facilitation of products, and especially care is taken to eliminate the fear of the older aged customers to the technological products. Government Making great effort on the development of a safe and reliable consumer information environment by supervising the network activities under the rule of law, cracking the various criminal activates driven by internet rigorously.

15 Reference Feng, D. 2015. WeChat: Shaking China [Oline]. Available at: http://chinamediacentre.org/2015/WeChat- shaking-china/ [Accessed: 25 February 2015]. Hannerz, U. 2003. Being there... and there... and there! Reflections on multi-site ethnography. Ethnography 4(2), pp. 201-216. Helm, S. 2000. Viral marketing-establishing customer relationships by 'word-of-mouse'. Electronic markets, 10(3), pp. 158-161. Zhu, R. 2015. How do Chinese online platforms celebrate Chinese New Year? [Oline].Available at: http://blog.kawo.com/post/111821061878/how-do-chinese- online-platforms-celebrate-chinese [Accessed: 25 February 2015].

16 Thanks !


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