In order to avoid a direct confrontation with foreign social networks, such as Facebook, LinkinEd, Cyworld or MySpace, Vietnamese social networks go their own ways to earn money to exist and improve their competitiveness on the Internet content market.
In order to avoid a direct confrontation with foreign social networks, such as Facebook, LinkinEd, Cyworld or MySpace, Vietnamese social networks go their own ways to earn money to exist and improve their competitiveness on the Internet content market.
Social networks can be compared as sweet cakes, but it’s not easy to obtain the pieces of the cake, since too many difficulties still exist.
Zing Me pours money into e-commerce
On November 21, Zing Me, one of the biggest Vietnamese social networks, announced that it is injecting money in the e-commerce sector in order to create more advantages to its social network which now has 8 million users, mostly young users.
Zing Me said that it carries out the social e-commerce project in order to help individuals and institutions involved in the distribution sector, expand their business scope by developing customers on the social network.
Vuong Quang Khai, Deputy General Director of VNG, the owner of Zing Me, said that in the near future, Zing Me will apply the online store service app, to be integrated on Fan Page, which will help stores to introduce and make transactions directly with customers.
Khai said that the advantage of VNG in e-commerce is that it is managing a community of 8 million users. This will help online stores access a big number of potential customers. Besides, VNG has Zing Pay, an electronic payment portal which can replace other payment methods.
At present, VNG is providing an open platform which allows individuals and businesses set up online shops as they want. Besides, VNG is also supporting the shops to advertise their products on Zing-brand information channels, such as Zing Mp3 or Zing News.
To date, 23 shops have been operating on Zing Me, including Hula Shop. Nguyen Quoc Anh, the owner of Hula Shop, said that the return on investment (ROI) from Zing Me is the third biggest one among the investment channels.
Meanwhile, VNG said that online stores on Zing Me is now the application which bring big business potentials to clients, and that social network applications are bringing the highest revenues to the company.
Also according to VNG, in 2009, only 10 apps ran on Zing Me and they did not bring revenue. However, in 2010, it had 20 apps already, while the turnover was 30 billion dong. VNG hopes that by the end of 2011, it will have 60 apps and the turnover of 60 billion dong.
Making money from ads
ComScore has listed 10 most popular social networks in Vietnam, namely Zing Me, Facebook, Yahoo! Pulse, Tamtay.vn, Banbe.net, KST.vn, yeulaptop.com, Cyworld, Yo88.com and Twitter. It is clear that social networks are the choices of many Vietnamese people, which means that Vietnamese social networks have to compete fiercely with the foreign networks to survive.
In order to survive and develop, in early November, P.A Vietnam introduced Bang.vn, a social network that helps users earn money by exchanging points through the web page.
Huynh Viet Phuong, P.A Vietnam’s Director, explained that any one, who joins the social network by accessing to the page, watching products and ad pieces, sharing images and music, will get Bang scores. The points can be used to buy ad banners, introduce their products, send ad messages to other members, post ad pieces. For example, in order to set up an ad banner, one needs to have at least 1000 Bang scores.
Currently, P.A Vietnam is still running the beta version before the official version will hit the market on January 1, 2012.
They fact that P.A attracts users by offering online ad opportunities is really a new way of doing business in Vietnam. However, this is considered a wise move which helps attract more users and bring turnover.
However, Joe Nguyen, Deputy President of ComScore South East Asia, emphasized that the key issue that makes the success of social networks is the content, while in order to create good content, businesses need the support from the community.
(Source: TBKTSG)
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| Hula Shop on Zing Me |
Zing Me pours money into e-commerce
On November 21, Zing Me, one of the biggest Vietnamese social networks, announced that it is injecting money in the e-commerce sector in order to create more advantages to its social network which now has 8 million users, mostly young users.
Zing Me said that it carries out the social e-commerce project in order to help individuals and institutions involved in the distribution sector, expand their business scope by developing customers on the social network.
Vuong Quang Khai, Deputy General Director of VNG, the owner of Zing Me, said that in the near future, Zing Me will apply the online store service app, to be integrated on Fan Page, which will help stores to introduce and make transactions directly with customers.
Khai said that the advantage of VNG in e-commerce is that it is managing a community of 8 million users. This will help online stores access a big number of potential customers. Besides, VNG has Zing Pay, an electronic payment portal which can replace other payment methods.
At present, VNG is providing an open platform which allows individuals and businesses set up online shops as they want. Besides, VNG is also supporting the shops to advertise their products on Zing-brand information channels, such as Zing Mp3 or Zing News.
To date, 23 shops have been operating on Zing Me, including Hula Shop. Nguyen Quoc Anh, the owner of Hula Shop, said that the return on investment (ROI) from Zing Me is the third biggest one among the investment channels.
Meanwhile, VNG said that online stores on Zing Me is now the application which bring big business potentials to clients, and that social network applications are bringing the highest revenues to the company.
Also according to VNG, in 2009, only 10 apps ran on Zing Me and they did not bring revenue. However, in 2010, it had 20 apps already, while the turnover was 30 billion dong. VNG hopes that by the end of 2011, it will have 60 apps and the turnover of 60 billion dong.
Making money from ads
ComScore has listed 10 most popular social networks in Vietnam, namely Zing Me, Facebook, Yahoo! Pulse, Tamtay.vn, Banbe.net, KST.vn, yeulaptop.com, Cyworld, Yo88.com and Twitter. It is clear that social networks are the choices of many Vietnamese people, which means that Vietnamese social networks have to compete fiercely with the foreign networks to survive.
In order to survive and develop, in early November, P.A Vietnam introduced Bang.vn, a social network that helps users earn money by exchanging points through the web page.
Huynh Viet Phuong, P.A Vietnam’s Director, explained that any one, who joins the social network by accessing to the page, watching products and ad pieces, sharing images and music, will get Bang scores. The points can be used to buy ad banners, introduce their products, send ad messages to other members, post ad pieces. For example, in order to set up an ad banner, one needs to have at least 1000 Bang scores.
Currently, P.A Vietnam is still running the beta version before the official version will hit the market on January 1, 2012.
They fact that P.A attracts users by offering online ad opportunities is really a new way of doing business in Vietnam. However, this is considered a wise move which helps attract more users and bring turnover.
However, Joe Nguyen, Deputy President of ComScore South East Asia, emphasized that the key issue that makes the success of social networks is the content, while in order to create good content, businesses need the support from the community.
(Source: TBKTSG)
