WeChat is spreading over the world: see the map here.
Facebook growth was lower than current WeChat growth: see the data per month here.
WeChat is a new Marketing tool: see why here.
WeChat is a social media: read how below.
WeChat, a New Social Network
Usually people become users of WeChat for multimedia instant-messaging and group chatting. However, WeChat is not only offering this type of services. As explained in the post called “WeChat, a New Type of Mobile Social Media”, WeChat is also a social network.
As of today, WeChat social network is more limited than Facebook social network.
“Moments”, WeChat Timeline compared to Facebook Timeline
Facebook timeline is public or private. WeChat timeline is only private: to view the information, another user has to ask you first.
Today WeChat Timeline is limited to posting pictures, liking them, and commenting them. You can also write text only after holding the camera button for a while (1). The firm is likely to add new multimedia features in the near future. A picture can be set as private later or deleted. An important picture can also be sent to your friends from the timeline to their message list.
WeChat timeline is called “Moments”. Cover picture of your timeline can be changed.
The user is also able to update her/his online status.
Anyone you allow is able to like or comment your picture. Each comment could be long (over 500 characters): this is a competitive advantage compared to Twitter (today 140 characters).
Name Card: a Profile Showing the Location and the Interests you Decide to Share
Like Facebook, you can decide to share or not to share your interests about a brand or a star you follow through push messages or not.
Location is another piece of information that is onto the name card of the user. The advantage of mobile social network is the capability to offer Location Based Services.
Compared to Twitter and Facebook, your contacts cannot see who and how many people, brands, or stars you are following neither they can know who and how many people follow you.
Today, there is no discovery feature in WeChat. VALUE2020 is advising WeChat to develop it and launch it in 2013 or 2014. The best strategy would be to release the feature before Facebook releases its Search feature. See more predictions on WeChat here.
(1) Updated on April 23rd following Joe Shen relevant comment (see below)