According to United States Census Bureau, US bilateral trade with China always resulted in deficit at least three consecutive years. The numbers of US’ exports and imports with China on the last three years are, 2015, 116 : 483; 2016, 115 : 462, and 2017, 130 : 505. All in million US dollars. In order to make “America Great Again”, Donald Trump intends to cut US trade’s deficit with China.
The numbers in the paragraph above are called data. From those data, we can simply conclude that US had a deficit in trade with China, at least three consecutive years. Donald Trump, one of the user of the data, then made a decision based on the data analysis step.
That’s the way statistical data works, similar with every directions of our lives, in all over the world, including in digital marketing. Starting with collecting the data, presenting, and analyzing, then ends with making a decision or decisions based on the data analysed. This step is called data analysis in digital marketing strategy. But the similarity doesn’t make all processes the same, especially in digital marketing. These are the items that made decision making in digital marketing different.
Living in the digital world means driving in the fast track. Everything changes so fast and we need to adapt to this kind of live or we will be left behind. The changes that we should be aware of are not just the changes that are made by our competitors. We should pay attention more to our customers behavior changes. For example, today, their favorite color is red, but tomorrow they might choose the blue one. To overcome this problem, we need data analysis, it is even better if it’s done by a reliable and professional data analyzer.
Related: Web Analytics Is An Art Too
We already knew that digital marketing “play-area” is in the world wide web. There are no specific countries boundaries in the market area. This means potential target market is out there, all over the world. But the real question is, how many people in the world that will be suitable with our product? Do we want to spread our wings to the entire globe or just focusing in a specific area? Are our resources equivalent with our ambition? And so on.
Borderless also means our competitors are not just from our country. Somehow we could find a product that is similar with ours that is produced from an area that we never even heard before. We need to be aware for surprises like this in order to maintain our operation. Are our competitors threatening us? Do we have comparatives advantages against our competitors? Are our competitors will always be our enemy? Could we or should we cooperate with them?
The answer of all these questions is research. We have to collect the data, analyze it, and then make a decision based on the data. It’s good to have several options to make a decision, not just blatantly declaring “war” to our competitors. But we don’t have to worry as long as our decision is based on valid and reliable data.
Interested in learning more about the digital marketing era? Click here!