Ad Spend and Trends in Hong Kong
A recent report by admanGo released the figures of ad spend in Hong Kong. An interesting point to note is that major contributors of the ad spend included magazine, TV and digital advert spends. A common observation in Hong Kong is to see the offline ads, TV, print, and event marketing frequently allocated the most advertising budgets.
However,
According to the 2020 Global Digital suite of reports, there is a 91% internet penetration of the total population, accounting for a ~7million digital audience in Hong Kong.
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In the latest Advertising Spending Projections Survey, we see a change in the split between online and offline ad spending from 50/50 last year to 60/40 this year, with online continuing to increase in importance.
This is an interesting observation, paving a more clear path for marketers looking to make a dynamic shift to digital advertising for their brands. If marketers wish to engage with this ‘new’ Hong Kong and the needs of its consumers, then they will need to become accustomed to more innovative marketing approaches.
A typical viewer takes in brand information from various channels and brands with a multi channel strategy are likely to experience results: deepening engagement and increasing their interaction with their target audiences.
Let’s take a look at a few key ways that Hong Kong can leverage and take strong steps into launching digital campaigns.
Mobile Marketing
There are instances when people tend to look down on their phones instead of the advertisements around them. To make the most of this undivided attention, marketers can use mobile video as an effective way of reaching their audience (as observed, its 2nd to TVC in the region). How?
Currently, various mobile promotional tactics are being used by both global and local businesses. Some of these tactics involve participation contests, “instant winner” promotions, mobile coupon incentives, and user polling apps.
With a focus on customer centricity, Wootag lets you understand your customer base by offering Polls, Surveys, Discounts/Offers to understand their preference and need – essential for retargeting, driving product retention, sculpting further marketing campaigns and in turn useful for product development!
Languages
Hong Kong has two official languages, Chinese and English, which is key to its Economy.Thus, it is vital that these languages are part of a company’s digital marketing strategy.
Cultural differences between various markets are greatly different. With audience engagement as a key component within interactive marketing, campaigns specific to each culture and region go a long way in gaining audience’s trust and loyalty.
One of the most profitable opportunities is the capability of engaging in personalised marketing.
At Wootag, we enable brands to take a more personalised approach in their campaigns. Leveraging on cultural differences through regional languages allows global businesses to reach wider audiences in each market. On the receiving end, audiences are more connected and are able to relate with the Brand on a more personal level.
Brand campaigns designed keeping in mind the intrinsic cultural differences are enabled at Wootag through creative product placements in line with insights gained from audience behaviours specific to the region, CTA’s in local languages (Mandarin, English, Thai etc), Campaigns in various languages enabled for different regions with detailed performance insights and more!
O2O Marketing
The practice of O2O marketing (Online to Offline or vice versa) is now thriving worldwide and has become a game changer in the marketing arena.
Inferring from above, we notice a prevailing trend in the market is Online to Offline Sales. This presents an interesting observation for online advertising as the objective is skewed towards online purchases. However, despite the growing comfort in being ‘digitally savvy’, we notice that sales are still evidently dependent on offline visits. One of the ways we at Wootag have equipped for this is through our Store Locator & Near Me formats.
Brands can leverage the prominence of digital campaigns in the country to showcase their products and services while introducing the interactive component which serves 2 purposes:
1) Aims to engage their audience with the content -differentiating them from a sea of online content while,
2) Encouraging them towards offline visits to Stores, Showrooms, etc through our Store Locator format which enlists the nearest options for each audience according to their location.
The current economic situation prevailing during the Covid-19 pandemic, provides businesses an opportunity to differentiate themselves and in knowing to adopt technologies to stand out.
As quoted by Clare Lui (Vice President, Media, Nielsen Hong Kong):
“Whether they can turn potential crises into opportunities with the smart and cautious allocation of advertising budget, with the aid of state-of-the-art technology, is critical to business survival in the coming year,”.
With a growing digitally active user base Hong Kong’s potential growth is unparalleled.
Reach out to us to learn more about Interactive Insights specific to Hong Kong and how you can join aboard the Interactivity wagon! Learn more about us, here.
