Around 60 Nordic Young Professionals gathered at China’ at O’Malley’s bar in Shanghai on Thursday 10 May to gain better insight on China’s rapidly growing and dynamic internet market. With some 500 million users in China, it is the world’s largest internet market.
Guest speaker of the evening was Mr. Henrik Bystrom, chairman of the exclusive social network P1.CN. He talked about the benefits of digitalization and social networks including measurability, openness and efficiency. He mentioned the booming luxury market in China and what it is that drives wealthy Chinese consumers to buy, pointing out that the Internet is becoming more and more important as a tool for this market. Since the Internet usage in China is the largest in the world, it has become essential for brands to master Chinese social network site forums in order to establish themselves.
An interesting discussion followed after Mr Byström’s presentation. Some interesting questions were raised on how social network site forums can be evaluated and what the recipe is to create a successful social network forum.
Mr. Bystrom emphasized that the way for a company to reach its target group and build a brand image is by harnessing the possibilities internet and social media offer. However, given the market’s vast size and high level of segmentation, to be visible at the right places and the topic of the right people in a favourable way for the company present in the Chinese internet market is a challenge.
P1.cn is a social media network with an invitation only membership, targeting affluent Chinese consumers. Except for Mr Bystrom’s experience in social media and the Chinese market, he has gained broad knowledge and experience through his years working with diplomacy, trade promotion, consulting and in the corporate field.