The business power of social

Businesses of all sizes and across all sectors in Asia recognize that social media plays an influential role in the procurement journey, particularly – but not exclusively – for younger demographics. Today, as enhanced functionality is provided by social media platforms, the business power of social is reaching around new corners to improve the speed and efficiency of client communications, customer relationship management and after-sales service.

WeChat

  • Founded by Tencent in China in 2011, WeChat claims 700 million active users. 70% of WeChat users spend more than RMB 100 per month on WeChat, and 61% open WeChat 10+ times per day‬ 
  • WeChat features 560,000 official company accounts
  • 200,000 businesses accept WeChat offline payment in store
  • 64.1% of company accounts use WeChat to distribute marketing campaigns, and 18.2% as an e-commerce platform. 45.8% of company account holders use it for client interactions, and 12.4% as an after-sales service mechanism

Source: Tencent Pinguin Research, WeChat Impact Report 2016

Line logo

Line

  • Founded in 2011 in Japan, as a subsidiary of a South Korean firm, Line claims 218 million active users, including a growing clientele in India
  • Line’s IPO in July 2016 raised USD 1.26 billion, the biggest tech listing of the year
  • Line’s digital ecosystem enables users to stream music and media, play games, book services such as taxis, and create and share marketing and advertising messages
  • In addition to participants, Line users include developers, brand owners, content providers, advertisers and payment service providers

Source: Line