Part 5: Chinese Social Media’s 80/20 Rule

For the half of you SM nerds who showed up, I am grateful as you are participating in the keep Erwin employed fund.  Please review Part 1, Part 2, Part 3 and Part 4 as we will have a final examination after our next and final class.

Reason 8:  About 50 Million outbound tourists travelled out of China last year. 7/10 Chinese Travellers use the Internet to source information about their destination.

Sure, this is great for large-scale travel agencies looking to create a presence within China, but what else?  What this means is that Chinese consumers, who are able and willing to spend money, use Social Media–SEVENTY percent of them in fact compared to 22.5% of China’s normal population.  Why the discrepancy?

Are you a B to C company?

Most advertise to those who have more money; why?  Because of the 80/20 rule.  20% of the world’s economy spends 80% of the money; therefore, 80% of companies are targeting 20% of consumers.  Similarly, 80% of those reading this article work for or own a business whose target demographic is of the more affluent.  Am I not right?

Are you a B to B company?

Executives.  Executives travel…a lot.  Executives purchase…a lot.  Executives make business transactions and they are constantly connected to the Internet–through their mobile, their office, their mobile office or at home.  Executives HAVE to be “online”.  It is a prerequisite to doing work efficiently.  Executives apply Social Media’s 80/20, 24/7.

If your business goal is to turn a profit, I suggest you take a long look at this:  your affluent clientele use the Internet.  How will you capture 70% of your strongest customers?

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5 of 6 in a series expanding on Ren Media’s Top 10 Reasons to use Chinese Social Media.

Next Part 6

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Related articles from around the web

• 9 Truths About Social Media Big Business Wants Us to Know and 2 Proofs They Want from Us (successful-blog.com)
• Using Inbound Marketing & Social Media to Execute Corporate Strategy (socialmediatoday.com)
• Social Media Success and the Problem with Case Studies (socialmediatoday.com)
• Social Search May Galvanise Organic Results (prweb.com)
• Social CRM a strategy, a philosophy, a technology? – Social Media Academy (wendysoucie.com)
• Win Chinese Tourists April2010 (slideshare.net)
• The Cost of Paying Lip Service (chrisbrogan.com)
• Social media for restaurants (e1evation.com)

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