March 6, 2014
On March 19th, I’ll be joining several of my colleagues in Shanghai, China for our Summit for Marketing & Strategy Professionals. One of the themes we’ve been exploring recently is how the age of the customer translates in the Chinese market. During my session at the summit, I will discuss some of the following things that the most customer-obsessed businesses, and savviest eBusiness leaders, are doing to effectively compete in China. These leaders:
Understand their customers and use this information to be as relevant as possible. In China, a growing number of eCommerce players are using customer data to help drive sales online, for example, by providing detailed product recommendations. As in other parts of the world, however, many eBusiness executives in China are at the early stages of truly understanding their customers and using this information to be relevant in their daily lives. We’ll look at how some brands use customer data effectively today, and what some of the more innovative use case scenarios look like in eBusiness.
Leverage best practices across borders. There is often an assumption that online shopping behavior varies drastically around the globe and that new offerings need to be built with entirely different assumptions in place. This is especially true for global brands in China, where the size and complexity of the market challenges even the most seasoned eBusiness executives. While there are clearly differences in how consumers shop online in China compared with other markets, many brands have failed to take advantage of online best practices and tactics that do transcend national boundaries. We’ll identify some of the key online tools and features brands must take with them — or add — as they expand their eCommerce efforts in China.
Avoid big-market myopia. There are exactly two massive eCommerce markets in the world: the US and China. China, however, is pulling ahead of the US in terms of the overall market size. With this growth comes a tendency for companies to think only in terms of the domestic market rather than looking more broadly at what’s happening globally (an all too common occurrence in the US). While there is a tremendous opportunity to drive eCommerce within China, it’s important for companies operating in the market to continue to look at innovation and new developments around the globe to stay ahead of the curve.
We look forward to seeing you in Shanghai!