How WeChat Pay Stands Out?
The Chinese-produced instant messenger WeChat boasts high levels of both utilization rates and total time spent online by its admittedly majority Chinese users, and has changed the social communication behavior of our generation. The Q2 financial report of Facebook revealed that the monthly active users of WeChat had exceeded 800 million.
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By taking advantage of users ‘dependence on WeChat, the WeChat Pay has successfully led the users to its desired field: the category of daily consumption. What are the advantages of WeChat? Let’s break it down in detail:
WeChat Pay Advantage No.1: Promotional incentives transmit via social relationship chain.
The popularity of WeChat Pay shall be attributed to the success of WeChat red packets (money gifts) which must be bonded by a debit card to realize transmission among your connected friends. A data report about spring festival of 2017 released by WeChat revealed that the gross amount of red packets attained 46 billion in 6 days from the New Year eve to the 5th of the New Year.
Businesses can dispense coupons via mini programs. The incentive money obtained from redeeming the coupons can either spend immediately or be accumulated for future usage, in addition, you can share the joy with your friends. The sharing is realized via the connected social circle.
It is obvious that WeChat red packets prompted the users to change their utilization habits and became the trigger to activate social relationship chains.
WeChat Pay Advantage No.2: a bridge connects to your users
Many young people opt for pay-by-phone for efficiency and convenience, and most important of all they avoid from being hassled by receiving a lot of change. WeChat Pay has evolved into a bridge for businesses to connect their potential customers.
1. You can analyze the traffic within a business area and define customer persona via WeChat to decide whether to run a business in that area.
2. Bond user’s WeChat ID with membership service, a method that will facilitate targeting group capturing for future marketing campaigns.
Businesses can enlist members through WeChat Pay. User will receive a text message to redeem a card after transaction has been completed with WeChat Pay. The message will be automatically sent by the system to user’s mobile device and the card can be claimed from WeChat public platform or a H5 page. This will improve conversion rate of card redeeming.
Besides the trading data, businesses can also capture the members’ WeChat data to facilitate future marketing campaigns.
Life has become easier and efficient for pay-by-phone users. WeChat has boosted social consumption by its strength in social communication and at the same time pushed the advance of the whole mobile payment industry in China.