I actually got some "fan mail" asking me on my profession. Well, I am the first to admit I am no international man of mystery. To those out there still wondering what I do, I would let you in on some insider tips ;)
I am actually in the digital marketing field. For next year, (well we are not too far away from it) I would include in my blog a tad more focus on digital marketing in China. Lets face it, social marketing and almost everything digital have seeped into our lifestyle and what we do everyday, whether you like it or not.
Fuelled by social media tools primarily, Weibo, Renren etc, digital marketing is spreading faster than wild fire in China. Due to the volume (number of people in China), it has in the process skyrocketed revenues and share prices for these companies involved in social media and digital marketing. Though the concept did not orginate from them, they have successfully tapped and copied the concept of microblogging and "facebooking" from the Americans into a localised platform. This is of course aided by a government move to ban twitter and facebook "to help local enterprises".
A colleague of mine recently sent me a report from the Asia Digital Marketing Association.
Let me share with you some interest insights which are China specific. First of all let me acknowldege the source first. All info are provided byAsia Digital Marketing Association.
- There is an estimated 420 million internet users in China in 2011. This number is more than half of the Asia Pacific's 825 million users.
- Ten cent is actually the third most popular site in China.
- Alibaba is the top shopping site in Asia Pacific
- Guandong has the most B2B and B2C online purchaes (not Shanghai or Beijing!)
- Tabao is expected to hit 1 trillion yuan in sales next year.
- There are 841.1 million mobiles users in china today
- Weibo would hit 200 million users next year.
- Broadband pentration rate is 98.1 % in 2010
At first look one may look at the potential market size of internet users in China and quickly conclude that there is a huge potential. However, as mentioned earlier, in a (dis)guise to protect local businesses, the authorities banned Facebook and Twitter in China. Google and Yahoo have also similar made to re-think their China policy. The big local brands has also establised a very strong foothold in this space.
So what is your entry strategy ? If you think its easy. Think again.
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