As the leading social networking app in China and the fifth most widely used globally, WeChat saw impressive growth amid the COVID-19 pandemic, both in revenue and the number of users. The brand value of Tencent Holding’s mobile messaging app also surged in the last year, launching WeChat among the strongest brands globally.
According to data presented by StockApps.com, WeChat brand value hit almost $68bn in 2021, more than three major Chinese banks.
The World’s Strongest Brand
WeChat or also called China’s “app for everything,” offers services from messaging and banking to taxi services and online shopping. During the pandemic, the app also helped keep track of those traveling or in quarantine, providing access to real-time data on COVID-19, online consultations, and self-diagnosis services powered by artificial intelligence to more than 300 million users.
This diversity of services offered to its users, especially amid the pandemic, helped the WeChat brand value surge by 25% YoY, revealed the 2021 Brand Finance’s Global 500 survey. With a valuation of $67.8bn, WeChat jumped nine spots on the ranking to enter the top 10 for the first time, behind giants like Apple, Amazon, Google, Walmart, or Facebook.
Also, the popular app ranked higher than the three major banks in China. In comparison, China Construction Bank hit a $59.6bn brand value this year, $8.3bn less than WeChat. Agricultural Bank of China and Bank of China also ranked below the popular messaging app, with $53.1bn and $48.6bn value, respectively.
The Brand Finance survey also revealed WeChat overtook Ferrari to become the world’s strongest brand with a top score of 95.4 out of 100 and an AAA+ brand strength rating. The relative strength of brands is measured through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance.
Statistics show the Chinese mobile app is one of merely 11 brands in the ranking to have been awarded the elite AAA+ brand strength rating.
More than Hit 1.2 Billion Active Monthly Users
WeChat has lots of popular messaging app features, including Moments. A majority of WeChat users access WeChat Moments every time they open the app. Voice and text messaging, group messaging, payment and games are other examples of WeChat services.
Tencent’s 2020 financial results revealed the number of WeChat active accounts has been multiplying over the past years.
Between 2011 and 2015, the number of monthly active accounts surged from 2.8 million to nearly 700 million. In the first quarter of 2018, WeChat`s user base hit the one-billion benchmark, and the number just kept rising.
Statistics show the popular social networking app had over 1.2 billion monthly active users in the last quarter of 2020, ranking as the fifth most widely used social networking app globally.
Facebook Opens Accelerator Programme for Nigeria, Others
Social media giant, Facebook, has started receiving applications for its Accelerator Programme for this year.
It said it is, therefore, inviting community leaders from Nigeria, South Africa and Kenya to apply for the 2021 Facebook Community Accelerator Programme, a programme that offers participants training, mentorship and up to $50,000 in funds to invest in an initiative that extends their community’s positive impact.
Its Partner Management Lead, Middle East and Africa Community Partnerships, Kiran Yoliswa, said Facebook communities and their leaders are helping to resolve social challenges, sharing knowledge and information, while connecting with others that share their interests or passion for a cause.
“We’ve seen so many incredible communities from across South Africa, Kenya and Nigeria using our platform to drive change and provide support and encouragement for thousands of people, we’re excited to offer their Facebook Community leaders this program to help amplify their impact even more,” Yoliswa said, that the aim of the programme is to help leaders of Facebook communities to harness the power of their community to turn ideas into action. The selected leaders will spend five months learning from experts, coaches and a customised curriculum so they can strengthen their community.
Lessons include community identity foundations, leading action-oriented programmes and sustainability. Participants will also receive early access to new Facebook products aimed at helping communities better manage and activate their members.
Participants will identify an important initiative that will create a positive impact on the broader world and develop a plan to mobilise their community around their goal. Initiatives will be shared with potential partners, mentors and a panel of judges for the chance to be awarded funding and receive public recognition.
Participants will then spend three months executing their initiatives. They will collaborate with advocates and leaders in the community space and work with the Facebook team to bring their ideas to life.
Yoliswa said the programme is open to communities that have a presence in Facebook Groups with leaders who are 18 years or older. Communities must have existed for over one year and must have a minimum size of 1,000 members. Applications open today, May 4 – 31, 2021.
The Community Accelerator is part of our Facebook Community Leadership Programme, a global initiative that invests in people building communities.
Twitter Legalize Giveaway, Introduces Tip Jar, A Feature Allowing Users to Send and Recieve Money
Twitter on Thursday introduced Tip Jar, a new feature that makes it easy for users to send money to their favorite creators on the micro-blogging service.
“This is a first step in our work to create new ways for people to receive and show support on Twitter — with money,” the company said in a blog post.
Users will be able to connect their Twitter accounts with Tip Jar to Bandcamp, Cash App, Patreon, PayPal, or Venmo. Twitter will take no cut of money sent through the feature.
According to the company’s statement in a blog post, You’ll know an account’s Tip Jar is enabled if you see a Tip Jar icon next to the Follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer and you’ll be taken off Twitter to the selected app where you can show your support in the amount you choose. The services* you can add today include Bandcamp, Cash App, Patreon, PayPal and Venmo. Twitter takes no cut. On Android, tips can also be sent within Spaces.
Those who use Twitter in English on iOS and Android will be able to start sending money through Tip Jar on Thursday. Certain users will be able to add Tip Jar to their profiles to begin collecting tips. This includes creators, journalists, experts and nonprofits, Twitter said.
The new feature comes as part of a broader effort by the company to build more features at a faster clip in a push to grow Twitter’s user base to 315 million daily active users by the end of 2023. Earlier this week, the company also announced the launch of Spaces, a feature that allows users to join virtual rooms where they can engage in real-time audio conversations with others.
Tip Jar comes after a rough week for Twitter, which has seen its stock fall more than 17 percent since April 29, when the company reported its first-quarter earnings. In the report, the company missed on analysts’ user growth expectations and the company provided lower revenue guidance for the second quarter than expected.
Nigerians Among Internet Users Most Likely to Quit Social Media
Social media for many of us has become an essential part of our daily lives. Whilst social media has many positive attributes, it can be a very toxic environment at times. This was recently exemplified by retired French footballer Thierry Henry quitting social media due to cyberbullying and racism.
Interested in e-communication, Reboot Online utilised online analytics tool Ahrefs to establish which countries citizens are most likely to quit social media based on key online searches indicating their clear intention to quit social media.
Reboot Online classified and grouped consistently recurring Google searches by individuals on quitting social media such as ‘how to delete social media?’, ‘how to delete Facebook?’, ‘how to delete Instagram?’, ‘how to delete Tumblr?’, ‘how to delete TikTok’?, ‘how to delete Twitter?’ and ‘how to delete Snapchat?’ as online searches which most signify users’ desire to quit social media.
Reboot Online found that Americans are the most likely to quit social media with an average 1,134,400 online searches per month indicating their intention to leave social media for good. The equivalent of 36,594 online searches each day. When put into context of how many active internet users there are in America (312,320,000), this equates to 0.363% of American internet users wishing to quit social media.
In second position is India as there is an average 497,940 online searches a month by Indians signalling their desire to quit social media.
United Kingdom (308,850 online searches), Canada (109,120 online searches) and Australia (97,060 online searches) are among the other countries where there are more than 90,000 online searches per month from citizens indicating their ambition to quit social media for the foreseeable future, respectively ranking third, fourth and fifth.
Nigeria is in 24th place as there is an of average 6,760 online searches every month from Nigerians demonstrating their desire to exit social media permanently. When considering the amount of active internet users in Nigeria (136,203,231), 0.005% of Nigerian internet users are keen to quit social media each month.
At the other end in 20th spot is Spain with an average 3,330 online searches a month from Spanish citizens showcasing their aspiration to leave social media for good. When put into context of how many active internet users there are in Spain (42,400,756), 0.008% of Spanish internet users want to quit social media on a monthly basis.
Reboot Online’s Top Tips to Limit Social Media Usage
- Turn Off “Push” Notifications
Soon as our phone makes a sound, we are straight away drawn to it. Push notifications attached to social media apps can be disabled and to reduce social media intake, it would be wise to do so. Less notification sounds and lights via social media apps is more than likely to have a position impact on your productivity and concentration levels.
- Daily Social Media Detox
Set yourself a daily goal where you delegate at least an hour of the day when you are awake to not use social media at all. This can be during the morning, lunch or at night – whatever hour slot works best for you. It is an excellent way to detach yourself from social media and reduce your reliance on it. Maybe in that hour find yourself a hobby which does not involve staring at a screen.
- Have a Productive Approach
With social media it can be easy to get drawn into pointless debates or become fixated by comedy memes/videos but why not make your time spent on social media productive. There are a ton of educational influencers from a range of areas such as finance and technology, so why not follow those in subject areas you have a genuine interest in and absorb their content to gain valuable knowledge.
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