Baidu throws Japanese companies a corporate lifeline
Foreign companies looking to do business in China have a significant stumbling block ahead of them: they face market research difficulties when it comes to profiling the country’s massive population, often struggling to put together surveys of more than a few hundred thousand participants (remember, the Chinese population is well over a billion people strong).
This difficulty is exacerbated by the country’s strict internet regulation, which makes it harder to do research online. Now, Japanese companies will be given a pole with which to vault over that hurdle – all thanks to Chinese internet giant Baidu.
Baidu’s share price has had a choppy year to date – but it’s in positive territory
SOURCE: Yahoo Finance
Baidu will start offering its services to Japanese companies looking to place online ads more effectively and develop products “that appeal to inbound tourists”. This is a huge deal, as Baidu is used 10 billion times a day and has a network of 17 million consumer monitors, making it one of China’s biggest pools for surveys.
Baidu’s search product holds over 80% market share in China, meaning that it can collect “unparalleled” amounts of data. It will add that data to Tokyo-based ad agency Hakuhodo’s data on China, which has been collected for more than 18-years. This data share will be part of a partnership that looks to provide marketing support for Japanese companies in China. Hakuhodo holds data over a number of important metrics for marketers, such as Chinese consumers’ brand preferences and television habits.
Dominion holds Baidu in its Global Trends Ecommerce Fund.
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