Wechat is the most popular messaging app in China with monthly active users (MAUs) to 500 million.
Arising after the microblog website Weibo, Wechat has created a social messaging network platform aimed at closed communities such as friends circles and offers competitive features such as hold to talk, sharing moments and group chat.
Image source: http://wearesocial.net/tag/wechat/
How does Wechat take further steps to make continuous growth of popularity and profit in a competitive social media landscape?
Opening public account services for companies, media outlets and retailers to provide new marketing tools to advertise and promote their service and products is an important start. Subscripting an account, users interact with the content and share easily with contacts, group chats or moments.
Further more, Wechat has developed an extendable transactional platform by taking advantage of innovative QR code. Consumers hit the purchase button and choose Wechat payment to book hotels, order taxis, and buy air tickets.
Entering into banking services, Wechat launched “virtual red envelop” activities, based on social networking and mobile payment technologies, allowing companies to send money, vouchers or gifts to attract users to grabbing the red envelop. This win-win strategy brings mobility, convenience and participation.
When CCTV launched “red envelop” activity through Wechat and attracted the biggest ever audience to its annual Chinese New Year celebration TV program, Wechat took its massive success to a peak.
Wechat has changed every aspect of Chinese life enormously. What’s the next move of Wechat? How it will change business and consumer’s behaviours and affect commerce, finance and lifestyle?