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HONG KONG (Reuters) – China’s biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters.

FILE PHOTO: Tencent’s booth is pictured at the Global Mobile Internet Conference (GMIC) 2017 in Beijing, China April 28, 2017. REUTERS/Jason Lee/File Photo
If you’re using a messaging app in China, chances are it’s owned by Tencent – a leading provider of web-based services in China that owns WeChat, as well as a whole host of social media platforms, entertainment subsidiaries and payment services. With an increasing amount of global brand awareness, the time had come for Tencent to expand its corporate typographic voice in line with its ambitions. The company approached Monotype to design a bespoke typeface, based on its existing logo, that could convey its vision of “innovation, responsibility and enablement”.

Tencent has made a “breakthrough” in gaining an e-payment license in Malaysia for local transactions, and plans a launch early next year, senior vice president S.Y. Lau said in an interview.

The move pits Shenzhen-based Tencent against rival Alibaba Group as they scramble for new growth opportunities outside China. Tencent this week became the first Asian firm to enter the club of companies worth more than $500 billion, and on Tuesday surpassed Facebook in market value.

“Malaysia is actually quite large in the sense that we have 20 million WeChat users, huge potential, and the market is quite warm towards internet products from China,” Lau said.

Southeast Asia, home to more than 600 million people and some of the world’s fastest-growing economies, has been a key battleground for China’s tech titans fighting for deals. Ethnic Chinese make up more than a fifth of Malaysia’s population.

WeChat Pay and Alibaba’s Alipay, which dominate China’s digital payment market, have sought to expand their global footprint, although that push has so far been limited to payment services for Chinese outbound tourists. They can scan-and-pay for purchases in 34 countries or regions via Alipay and 13 via WeChat Pay, according to the companies.

Alipay’s parent company Ant Financial has joint ventures in seven markets for local digital payments services, which operate independently under the partnerships’ brand names.

Alibaba is looking to build a global payment system, while Tencent is more interested in generating traffic for WeChat – two different strategies, some bankers and investors say.

WeChat has more users, but Alipay’s aggregate transaction volume is higher, according to JP Morgan’s John Hall, though other investors note that WeChat Pay can also process large transactions if it’s used on e-commerce platforms.

GLOBAL EXPANSION

One challenge for Tencent, say analysts, is that its success in China cannot be easily exported to other markets.

Tencent is “not in a hurry” to speed up its overseas expansion or increase the monetization rate of its digital assets, Lau said.

“We walk our own path at our own pace … and, to be honest, there is really quite a lot to do in China,” he said.

WeChat, which has ballooned from a messaging app to an all-in-one platform with 980 million monthly active users, could be the “killer product” to spearhead expansion abroad, Lau said, as its embedded payment function draws more services.

WeChat, with an open platform of mini-programs, was a key revenue contributor for Tencent in the third quarter. Social and other advertising revenue rose 63 percent, while payment and cloud helped “other business” post a 143 percent jump

“Honour of Kings”, Tencent’s top-grossing battle game that led an 84 percent increase in quarterly smartphone gaming revenue, also owes its success to the network help of WeChat, and is expected to find it tougher to crack Western markets, analysts say.

Tencent this month delayed the launch of the game’s U.S. edition, “Arena of Valor”, to next year to “further polish additional gameplay and social features”.

After games and social media, most of Tencent’s other businesses are in digital content, including Spotify equivalent Tencent Music and YouTube equivalent Tencent Video, which also makes its own dramas.

CULTURE CHALLENGE

Lau said the ultimate aim was to export culture from China to the rest of the world, rather than the other way round, which he acknowledged was challenging.

“What we’re aiming to create is ‘super IPs’ (intellectual property) that leverage our different businesses from upstream to downstream,” Lau said, citing Disneyland and the James Bond movies as successful practices in the West.

A big business for Tencent’s recently listed publishing arm, China Literature, is to sell its popular novels and have them turned into dramas and video games by Tencent’s other business lines.

Tencent this month announced a plan involving 10 billion yuan ($1.51 billion) of investment to boost its creative content ecosystem, though it gave no time frame for the investment.

Company president Martin Lau – no relation to S.Y. – said on an earnings call last week that Tencent would keep investing in digital content, especially online video, to draw more time from more paying customers.

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Overseas acquisitions will remain a key way of enhancing Tencent’s global access and competitiveness, S.Y. Lau said.

Independent technology analyst Richard Windsor said Tencent’s 2016 acquisition of Supercell gave it a strong position in gaming, while the move to buy a stake in social media firm Snapchat is another piece in the jigsaw.

“It increasingly looks as if Tencent is embarking on a circumnavigation of the digital life pie in order to build an ecosystem to challenge the Google, Apple, Amazon, Facebook dominance of consumer digital services,” he said, noting it’s at a “super early stage” in that process.

Tencent will likely seek more overseas acquisitions, Windsor added, which, beyond being expensive, could challenge Tencent in integrating all its digital assets at home and abroad.

Tencent has struggled to monetize its dominance over the Chinese digital life, he said, adding that’s why he sees more upside in Tencent’s market valuation, and prefers it to Alibaba.

Henry Sapiecha

As Facebook tries to conquer the workplace, it not only has to convince businesses that the new tool is worth paying for, but it’s also competing with similar services such as Slack and Microsoft’s Yammer. 

It looks similar to a person’s personal Facebook, but users aren’t browsing the social network for cat videos or engagement photos

ooofacebook-workplace-screen-pic image www.socialselect.net

Instead, they’re interacting with their co-workers or business partners eve hen they’re on the move.

“The workplace is about more than just communicating between desks within thatement.

The tech firm is charging companies a monthly fee per active user to use the product. Workplace, which is available on desktop and mobile, costs$US3 a user for the first 1000 monthly active users, $US2 a user for 1001 to 10,000 monthly active users and $US1 a user for more than 10,000 monthly active usrs.

As Facebook tries to conquer the workplace, it not only has to convince businesses that the new tool is worth paying for, but it’s also competing with similar services such as Slack and Microsoft’s Yammer.

While Facebook is charging a lower price than its competitors, it might still be tough sell to businesses who fear that social media could fuel more negativity in the workplace or make them more vulnerable to legal risks. But it could appeal to younger workers who are more used to communicating electronically than face to face.

For Facebook, Workplace also gives the tech firm a way to grow its revenue outside of mobile ads.

The tech firm has been testing the product, formerly known as Facebook at Work, globally for more than a year. More than 1000 organisations worldwide, including Starbucks, YES Bank of India and the Government Technology Agency of Singapore have been piloting Workplace.

It includes features such as live video, work chat, trending posts, analytics and other tools. Workplace also allows companies to create “Multi-company groups” so employees from different organisations can work together. Workplace is separated from an employee’s personal Facebook.

More than 100,000 groups have been created in Workplace and the tool has been the most popular in India, Norway, the United States, United Kingdom and France.

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Henry Sapiecha

 

How Executives Are Using Social Media

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Henry Sapiecha
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David Ogilvie knew LinkedIn would help him make new business connections, but he never dreamed it would land him a $4 million contract.

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But a LinkedIn connection recently introduced the group business manager of a Sydney construction firm to a family that owns an automotive group hunting for a firm to build its newest Hyundai car dealership. Ogilvie followed up with a call and negotiated the deal for Beach Constructions, worth $4 million.

“The initial introduction came through an architect and we won this contract after negotiations with the client. LinkedIn is well and truly opening doors for us and has certainly created an awareness of our business,” Ogilvie says.

While many professionals have a LinkedIn account and invite people they know to join their network, Ogilvie says the site can be better used to actively connect with allied industries.

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He spends 20 to 30 minutes a day building connections in areas like consulting, town planning and engineering firms in a bid to promote the capabilities of Beach Constructions.

You can’t expect to win business by just connecting on LinkedIn, you need to use the site to communicate beyond that, he says.

“Connecting yourself to someone else creates an opportunity, but you’ve got to work at it after that point.”

Today, he has 2800 connections and chases up potential leads every day. Once a new connection has accepted his offer to connect, he sends them a corporate profile. He has a premium membership, which costs around $200 a year.

While he also created a Facebook account for the firm, he believes LinkedIn is a more powerful platform for his sector.

“It depends on what sort of business you have and what platforms your sector uses most. Being able to send a corporate profile through LinkedIn has been a really powerful tool for us.”

However, the site does have some limitations, he says.

“LinkedIn doesn’t allow you to connect with people you don’t know, which I believe defeats the purpose of it being a networking site.”

Around the time that Ogilvie was closing the recent $4 million deal, LinkedIn actually suspended his account because he continued to invite unknown professionals to join his network.

Ogilvie contacted LinkedIn for an explanation.

“I hadn’t heard from anyone after five or six days, so I used my premium LinkedIn membership to contact the Australian LinkedIn CEO and demanded to be reconnected.

“I told him that the site should allow people to network on the site given that it’s a networking site. He reconnected me, so I’ve been able to continue using the site.”

Tara Commerford, head of communications, LinkedIn Australia, New Zealand and south-east Asia, points out that the platform offers “LinkedIn InMails” to get introductions to people outside your network.

Professionals use it to network, gain new connections and source everything from partners, vendors, suppliers and new business leads, she says.

The site enables professionals to transition what would traditionally be a cold call into warm leads by leveraging their existing connections to gain introductions and research potential prospects, Commerford says.

“LinkedIn is about growing your professional network and nurturing your connections, so it’s important that you choose quality over quantity and identify people that will add value and strengthen your professional network.

“That said, we do suggest that you have at least 50 connections to get the most out of the platform.”

Commerford recommends linking up with past colleagues, fellow alumni and professionals you know or would like to know in your industry.

Posting regular status updates and contributing to groups in your area of expertise is a great networking tool, she adds.

More than four million Australians are part of LinkedIn, with industries such as technology, marketing and finance among early adopters.

However LinkedIn reports strong engagement across other industries such as mining, retail, healthcare and education.

Ogilvie says he will continue to dedicate around 30 minutes a day to the site.

“I just hope I can do it again,” he says.

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Henry Sapiecha
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F a c e b o o k F o r m u l a – Part [2]series of 9 chapters

My Facebook Marketing Plan

As with any business endeavor you need a plan and especially for your marketing strategy since you have so many options open to you that you would be hard pressed to keep track of everything without a plan to make sure you are heading in the right direction.The Target MarketAs already mentioned, the Facebook demographic is extremely diverse and you have the added advantage of being able to use people?s profiles to further narrow your target market down.

For example, if you want to target women aged 24 – 35 who live in the Midwest and love to crochet, Facebook makes it extremely easy to do. The advantage? You can be certain you aren?t wasting resources, whether money or time, on reaching a wide audience of which only a small percentage is actually your target market, as was often the case with traditional marketing channels.

Remember that the key to building a successful business is to have an excellent understanding of your target market. The more you know about them, the easier it will be to build a relationship with them.Consumer behavior, in simple terms, is driven mainly by two desires, the first is to avoid pain and the second is to gain pleasure. However, pain avoidance carries much more weight. Therefore, the more you know of your audience and what pains them, the more you will be able to meet their needs by providing a solution to their pain. In fact, if you do your market research properly, you will be able to create a product M y F a c e b o o k F o r m u l a Page 8that sells itself.

This is where the power of knowing your target market truly lies.

What better way to build a relationship with your target market than through a social media platform that allows for so much interaction, like Facebook?

There are a few tools you can use to locate your target market. One of these is the Facebook Insight tool which provides information on the people visiting your page, including information such as their age and sex.Establishing Your Marketing GoalsFacebook is an essential marketing tool that you need to integrate into your overall marketing strategy for the simple reason that you can glean a lot of information from your market. From product creation to feedback on your service, Facebook can be the ultimate market research tool, and you can achieve all this without paying a penny.In essence, the core goal of any marketing campaign is to increase sales. However, there are other aspects to increasing your sales which, initially, may not appear to be directly linked to increasing your profitability. But they are, and can boost your sales more effectively than even a Super Bowl advertising campaign.

These are building a brand, forming a community of prospects who are raving fans, providing customer service and receiving feedback on your business. These four aspects are vital to building a sustainable business model that will generate an income for you for many years.

M y F a c e b o o k F o r m u l aPage 9 The Power of Branding A brand is basically the image of your business. It’s what sets you apart from your competition in the mind of your target market. Thus, the key to branding is finding your USP (unique sales position/proposition), which you can actually do with the help of existing customers. Simply conduct a survey and ask why people are buying your product or using your service and not the competition’s.

If you do not yet have a product and are just starting your business, then you should analyze your competition and identify what their USP is. This will give you some idea of what you can do to add extra value and find your USP. Remember never to use price as a USP as this can backfire.

M y F a c e b o o k F o r m u l a Page 10 Driving Sales with Facebook

Facebook is an ideal tool to drive sales as it offers an excellent medium to inform your audience about special offers, product launches, discounts and more. You can easily provide a link so people can access your website or you can even build a store right there inside Facebook.

Facebook is also a highly cost-efficient advertising medium as you can run highly targeted campaigns that have a high ROI as it has been proven that social media audiences have a higher conversion rate than organic traffic.Additionally, you can also use Facebook Events to drive sales and increase brand awareness.Building Your CommunityBuilding a community is vital to your online business success, especially if you want that success to be long-lasting. Facebook Groups gives you that option but remember that your group can’t be build around your product or no one will be interested.

You need to focus on building a group centered around a cause or interest that ties in with your goals yet has social importance to draw people to join.

Customer Service and FeedbackProviding excellent customer service and listening to feedback from your customers is vital to the success of any product or business. The more feedback you receive, the more you can improve and meet the needs of your prospects.

You can receive feedback directly through M y F a c e b o o k F o r m u l a Page 11 Facebook group or by running a manual search on the platform to find any mentions of your brand.The more responsive you are to your market?s needs, the more they will appreciate your brand and the more they will advertise for you through referrals and recommendations. There is nothing more valuable in a social media setting than having your Facebook fans recommending your business as this is the place people come to research before they make their purchase decision.

Creating a Message..? This is the moment when you need to forget all you learned in your power-selling and advertising courses about hard selling. This simply does not work in a social media setting. You need to be honest and open with your market and above all you need to provide value first and ask later. In other words, don?t try to push sales messages down the throat of your Facebook followers because you may soon find yourself alone.Facebook is primarily a social platform, which you need to remember when implementing your marketing strategy. This means that you need to engage your audience rather than merely trying to push offers at them all the time. The more value you provide, the more your audience will trust you and the higher your profits will climb.

Sourced & published by Henry Sapiecha

F a c e b o o k F o r m u l a – Part [1]series of 9 chapters


Basics-The Nuts and Bolts
The internet and social media sites especially have led to the line between our social and professional lives blurring ever more with each passing day. Social media sites give people the opportunity to connect with old friends, make new ones and expand their professional network with only a few clicks, from the comfort of their own home.
Social media sites have redefined the concept of globalization, which was the „in? word two decades ago for large corporations. Unfortunately for the latter, the current globalization concept has allowed businesses of all sizes to tap the benefits of being present in a wide number of markets. This is because the internet has become a business channel that is practically free and companies are no longer required to make massive investments in building an offline, local presence in whichever market they choose to expand into. In fact, why expand into a single geographical market, when one can access the world with a few clicks of the mouse?
Of course, this doesn?t mean that it?s easy to compete against the giants, but, after all, why take on a giant when you can still build a profitable and sustainable business that will change your life and that of future generations of your family without competing directly with the giants.
The one advantage you have, as a small business owner, over a large corporation is relationships. Yes, you heard right! You are more likely to spend time building relationships with your customers than any large corporation as they are mostly focused on their bottom line and ROI, overlooking strategies and tactics that may not convert into tangible results immediately. However, even the „big boys? are beginning to understand the value of social media sites and building relationships with their customers, which is why you need to jump on this train of opportunity before it passes you by.
What you need to understand is that the change that has and is taking place is not in the core concepts of marketing, which are more applicable than ever, but in consumer behavior. You see, social media sites have given consumers a voice of their own and they are less likely to fall for advertising campaigns that cost millions to put together. Instead of rushing out to buy a brand new, shiny product, most consumers? first stop is their favorite social media website to research the product in question.
For companies who simply „don?t get? the social media space, this can be a killer. However, for those savvy entrepreneurs who understand the new consumer, this is a resource that can be leveraged to create an incredibly successful business.
Why You Need to Be Present
Facebook currently has over 400 million users, making it larger than many of the world?s nations and it is growing every day. Additionally, this social media platform?s demographics are so diverse that it makes an ideal marketing vehicle. In fact, more than 50 percent of U.S. users are 26 years old and above, meaning that your marketing efforts will meet with even greater success as these are usually the people who make direct purchase decisions.
Likewise, many businesses are also wising-up to the necessity of integrating social media into their traditional marketing strategies, which includes Facebook. Ergo, whether you are in the B2B or B2C sector, you will still find Facebook highly effective.
However, you do need to remember that it is only a marketing tool as the principles have remained the same. In other words, identify your target market, understand their needs and wants, build a relationship with them and only then attempt to sell to them.
The key to successful social media marketing is to understand your audience and to build a relationship with them. Consumers aren?t interested in doing business with faceless companies that hide behind a logo. Especially when they have so many other choices. So, let?s get into the nitty gritty of marketing on Facebook and creating a brand that will have consumers running to you.
Assumptions
This work assumes that you know how to open a Facebook account and have a vague understanding of how to navigate the site. We will be covering how to build a Facebook page for your business but will be looking at this issue from a marketing point of view rather than the technical side of matters since the basics of Facebook usage is outside of the scope of this ebook. However, a quick Google search will help you with any problems you may encounter.

See you next chapter

Sourced & published by Henry Sapiecha

WINNING WITH FACEBOOK

STAY IN THE FACEBOOK GAME OR PERISH

Dec. 21 – Small businesses are leveraging their profiles on Facebook to boost their business by keeping in close contact with customers.

Karina Huber reports.

Getting the message out on Facebook View video here

Getting the message out on Facebook

Sourced & published by Henry Sapiecha