integrated marketing communication mkt304 mc2503 individual assignment momo

By 2020, Momo e-wallet has reached the milestone of 20 million users, 18affiliated banks, a system of 8,000 transaction points, 10,000 business partners and more than100,000 points of ac

Huỳnh Hoàng Dũng – SS150067Mentor: Nguyễn Hữu Hoàng Giao

Môn học: Integrated Marketing Communication (MKT304) – MC2503

Individual Assignment“Lac Xi” Analysis

1 About Momo:

Momo is an e-wallet cooperated and developed by Online Mobile Services Joint StockCompany (M_Service JSC), Vinaphone and Vietcombank that allows payment and exchange ofmoney on mobile phones completely free of charge On June 1, 2014, Momo officially launcheda trial version (open beta) and was the first electronic wallet application in the Vietnamesemarket at that time Money in MoMo wallet account has the same value as cash and is securedby Vietcombank By 2020, Momo e-wallet has reached the milestone of 20 million users, 18affiliated banks, a system of 8,000 transaction points, 10,000 business partners and more than100,000 points of accepting Momo payments nationwide.

MoMo e-wallet is on the direction of becoming a "super application", meeting all the24/7 needs of customers, providing a variety of services from mechanical payment, e-commerce,travel, traffic travel to entertainment, consumer finance, insurance, shopping, catering Inparticular, game is considered an extremely important strategy for Momo to become a superapplication The application of Gamification on the application platform allows for bettercustomer interaction and experience while significantly increasing the revenue and number ofusers of the business A typical example of this is Momo's annual Tet campaign called "Lac Xi".

2 Lắc Xì:

"Lac Xi" is a game campaign integrated on the Momo e-wallet platform developed in theform of shaking the phone to receive gifts as well as points to receive prizes Up to now, "LacXi" has performed 3 seasons and has achieved very impressive numbers At the time of Tet 2019,the first season of "Lac Xì" was officially launched to users and immediately became one of themost successful IMC campaigns in the Vietnamese Marketing world Specifically, the campaign"Lac Xi" 2019 reached more than 5 million players, 100 million shakes quickly reached the top 1outstanding campaign on the social network of Tet 2019 according to analysis of the SocialHeattool (YouNet Media, 2019) The top 1 position still be held in 2020 as the number of playersincreases to 8 million, reaching 250 million times during the campaign period.

2.1 Lắc Xì 2021:

"Lac Xi" season 3 returns with a whole new look Brings the traditional beauties oftraditional New Year's day in harmony with the modernity on e-wallet platform With a totalprize value of up to 300 billion and a well-invested story, Momo has successfully broken therecord of the previous seasons with the number of 8 million players, 300 million shakes after just3 weeks of launch .

3 External analysis:

3.1 Market review:

Vietnam is currently the country with the highestgrowth rate of the electronic payment market in SoutheastAsia and one of the countries with the highest growth ratesin the world Up to now, Vietnam has recorded more than30 payment service providers In which Momo, Viettel Pay,Moca, AirPay and ZaloPay dominate the electronic walletmarket with 94% of the total market share.

3.2 Competitive review:

ViettelPay – Trau Vang Du XuanZaloPay – Tuyet Dinh Li XiMoca - None (Partner with Grab)AirPay - None (Partner with Shopee)

3.3 Customer review:

Momo e-wallet's main target audience and "LacXi" campaign are customers under the age of 35 whoare interested in and knowledgeable about electronictechnology Especially in big cities, according tostatistics, users are mainly concentrated in Ho Chi MinhCity (42%) The gender ratio of users of e-wallets is notmuch different between men and women, in which thenumber of users is 55% male and 45% female (Q&Me, 2020)

In addition to focusing on users, Momo also partners with brands, companies andservices to act as intermediaries connecting brands and users In the campaign "Lac Xi", most ofthe brands cooperating with Momo are in the service sector from tourism, dining to shopping,insurance,

4 Internal analysis:

4.1 SWOT:

- Strengths: The campaign has gone through the previous seasons so the gameplay is somewhatfamiliar to old customers There is the cooperation of many brands to create diversity incampaign gifts Momo e-wallet has the largest market share as well as the number of users.There are many interesting games and activities.

- Weakness: Being an independent e-wallet, without exclusive cooperation to enjoy customerfiles of other e-commerce sites and services (Moca has Grab, Airpay has Shopee) Momo has apartnership with the e-commerce site Tiki, but this is not an exclusive e-wallet but just one ofmany payment methods.

- Opportunities: A growing e-wallet service, Vietnam is moving towards a cashless economy inthe future The epidemic of Covid 19 caused an increase in demand for using e-wallets.- Threats: New e-wallets are appearing in the market, the competition is heightened.

4.2 IMC audience contact tools analysis:

Momo's Lac Xi season 3 campaign doesn't invest too much in diversity of mediachannels but instead focuses on vigorously developing a number of key audience contact tools.Examples include Internet, Interactive, Out of home media, Broadcast media and Word of mouth.- Internet: In particular, facebook social network is the main communication channel of

"Lac Xi" The user file of the social network, especially facebook, is especially suitable

for the potential customers thatMomo e-wallet is targeting.Right from the beginning of thecampaign to the end, Momofanpage continuously postedinformation and pictures about"Lac Xi", from events such asgolden hour or pictures ofbrands co-operate Continuousposting helps fanpage not reduceuser interaction rate However,Momo only runs strong ads oncertain posts These areconsidered the posts containing the core information and information that the campaignwants to convey to the users Specifically, TVC or attractive gifts such as red envelopes50-100 million, iphone 12, airpod, or golden hour to increase the ability to shake gems.This helps Momo to control the necessary information transmitted to the user, therebyoptimizing the use of this tool.

- Interactive: This is a tool that is considered the "heart" of “Lac Xi” 2021 campaign The

two main types of interactive used in this campaign are interactive storytelling and two way interaction.

-a Interactive storytelling:

Keeping the "tradition" from the previous seasons, with this comeback, "Lac Xi"has built and developed its own storyline From there bring the campaign closer to theaudience and convey the message to the society Specifically, the story of thiscampaign tells about a buffalo and a collection of 8 gems Momo raised the problemthat in the old days, there were eight gems in the buffalo temple to keep the fiveelements, due to an event that caused eight gems to fly away and caused "storms" tohit the human world This is directly related to the events and difficulties thathumanity has encountered in the past year And by collecting all 8 gems, the buffalogod will appear and grant wealth to that person and at the same time make thecalamity disappear.

The story of buffalo and jade is also the core of the campaign, by shaking thehexagrams, "Lac Xi" takes players through a journey to collect gems And when theplayer collects all 8 gems, the participant has the right to share the cash gift packageof 12 billion dong, which is also the gift mentioned in the story "Buffalo God".

b Two – way interaction:

This is a form that is directly integrated into Momo's "Lac Xi" campaign.Specifically, the campaign "Lac Xi" requires a very positive interaction from users."Lac Xi" is a game that requires users to literally shake the phone and receive giftssuch as vouchers from brands, cash red packets or pieces of attractive gifts likeiphone , airpod, The specialties can be considered fortune-telling have contributedto the campaign's attraction In addition, to receive more shakes, players mustparticipate in tasks such as transferring money, lucky money, donating golden pigs or

sharing on facebook This will help new users become more familiar with the servicesthat Momo wallet offers and spread the campaign further.

- Out of home media: This is one of the rather difficult tools to calculate the efficiency

level However, with the campaign "Lac Xi" in particular and the Momo e-wallet in

general, this is an extremely important tool in increasing brand awareness while partlyspreading the campaign to new users This is the tool with the highest level of recognition

among all It is easy to see banners, posters, standees hanging or posted at shoppingmalls, elevators, taxis or at Momo transaction points.

- Broadcast media: Lac Xi 2021 is no longer too focused on this tool as the main client

file is no longer suitable for Momo at the moment Part of this is also due to the gradual

decline of traditional media outlets Instead, "Shake Si" uses the Youtube and Facebookplatforms to publish its TVC TVC is divided into 2 types: full version with a total ofnearly 50 seconds and a shorter version of about 15 seconds TVC 50s is published onMomo's Youtube page and advertised on videos Meanwhile, TVC 15s with short andmessage-focused content is often run ads on Facebook pages.

- Word of mouth: This is an unintentional communication tool and difficult to control,

however it is the most powerful tool during Momo's "Lac Xi" campaign Lac Xi hassucceeded in capitalizing on the powerful pervasiveness of this tool with a series ofactivities and attractive gifts such as collecting gems, dividing cash, golden hour, fortune-telling, theft or exchanging gems makes "Lac Xi" a game where users can share or linktogether instead of playing alone Proof of this, by searching the phrase "Lac Xi 2021" on

the facebook search bar, the results will result in a series of large and small groups of upto tens of thousands of participants to exchange and exchange gems Or the application ofdivination expertise to "Lac Xi" also makes players more interested and can share withtheir friends thereby increasing the awareness of the campaign "Lac Xi” in particular andMomo e-wallet in general.