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 – SS150067

Mentor: 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 Stock Company (M_Service JSC), Vinaphone and Vietcombank that allows payment and exchange of money on mobile phones completely free of charge On June 1, 2014, Momo officially launched

a trial version (open beta) and was the first electronic wallet application in the Vietnamese market at that time Money in MoMo wallet account has the same value as cash and is secured

by Vietcombank By 2020, Momo e-wallet has reached the milestone of 20 million users, 18 affiliated banks, a system of 8,000 transaction points, 10,000 business partners and more than 100,000 points of accepting Momo payments nationwide

MoMo e-wallet is on the direction of becoming a "super application", meeting all the 24/7 needs of customers, providing a variety of services from mechanical payment, e-commerce, travel, traffic travel to entertainment, consumer finance, insurance, shopping, catering In particular, game is considered an extremely important strategy for Momo to become a super application The application of Gamification on the application platform allows for better customer interaction and experience while significantly increasing the revenue and number of users 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 the form of shaking the phone to receive gifts as well as points to receive prizes Up to now, "Lac Xi" 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 the most 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 1 outstanding campaign on the social network of Tet 2019 according to analysis of the SocialHeat tool (YouNet Media, 2019) The top 1 position still be held in 2020 as the number of players increases 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 of traditional New Year's day in harmony with the modernity on e-wallet platform With a total prize value of up to 300 billion and a well-invested story, Momo has successfully broken the record of the previous seasons with the number of 8 million players, 300 million shakes after just

3 weeks of launch

3 External analysis:

3.1 Market review:

Vietnam is currently the country with the highest

growth rate of the electronic payment market in Southeast

Asia and one of the countries with the highest growth rates

in the world Up to now, Vietnam has recorded more than

30 payment service providers In which Momo, Viettel Pay,

Moca, AirPay and ZaloPay dominate the electronic wallet

market with 94% of the total market share

3.2 Competitive review:

ViettelPay – Trau Vang Du Xuan

ZaloPay – Tuyet Dinh Li Xi

Moca - None (Partner with Grab)

AirPay - None (Partner with Shopee)

3.3 Customer review:

Momo e-wallet's main target audience and "Lac Xi" campaign are customers under the age of 35 who are interested in and knowledgeable about electronic technology Especially in big cities, according to statistics, users are mainly concentrated in Ho Chi Minh City (42%) The gender ratio of users of e-wallets is not much different between men and women, in which the number of users is 55% male and 45% female (Q&Me, 2020)

In addition to focusing on users, Momo also partners with brands, companies and services to act as intermediaries connecting brands and users In the campaign "Lac Xi", most of the 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 somewhat familiar to old customers There is the cooperation of many brands to create diversity in campaign 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 customer files of other e-commerce sites and services (Moca has Grab, Airpay has Shopee) Momo has a partnership with the e-commerce site Tiki, but this is not an exclusive e-wallet but just one of many payment methods

- Opportunities: A growing e-wallet service, Vietnam is moving towards a cashless economy in the 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 media channels 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 that Momo e-wallet is targeting Right from the beginning of the campaign to the end, Momo fanpage continuously posted information and pictures about

"Lac Xi", from events such as golden hour or pictures of brands co-operate Continuous posting helps fanpage not reduce user interaction rate However, Momo only runs strong ads on certain posts These are considered the posts containing the core information and information that the campaign wants to convey to the users Specifically, TVC or attractive gifts such as red envelopes 50-100 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, thereby optimizing 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 the audience and convey the message to the society Specifically, the story of this campaign tells about a buffalo and a collection of 8 gems Momo raised the problem that in the old days, there were eight gems in the buffalo temple to keep the five elements, due to an event that caused eight gems to fly away and caused "storms" to hit the human world This is directly related to the events and difficulties that humanity has encountered in the past year And by collecting all 8 gems, the buffalo god will appear and grant wealth to that person and at the same time make the calamity disappear

The story of buffalo and jade is also the core of the campaign, by shaking the hexagrams, "Lac Xi" takes players through a journey to collect gems And when the player collects all 8 gems, the participant has the right to share the cash gift package

of 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 gifts such as vouchers from brands, cash red packets or pieces of attractive gifts like iphone , airpod, The specialties can be considered fortune-telling have contributed

to the campaign's attraction In addition, to receive more shakes, players must participate 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 services that 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 partly spreading 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 shopping malls, 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 Facebook platforms to publish its TVC TVC is divided into 2 types: full version with a total of nearly 50 seconds and a shorter version of about 15 seconds TVC 50s is published on Momo's Youtube page and advertised on videos Meanwhile, TVC 15s with short and message-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 has succeeded in capitalizing on the powerful pervasiveness of this tool with a series of activities 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 link together 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 up

to tens of thousands of participants to exchange and exchange gems Or the application of divination expertise to "Lac Xi" also makes players more interested and can share with their friends thereby increasing the awareness of the campaign "Lac Xi” in particular and Momo e-wallet in general