Influencer Marketing In Hong Kong

With a population of over 7 million, Hong Kong serves as a gateway to opportunities in Mainland China and also a strategic location in Southeast Asia. This city holds much potential for marketers because it is a multicultural hub wherein more than 1,500 regional headquarters of global companies are located.

Due to the rapid digital transformation across the globe, and Hong Kong, in particular, there has been an increase in demand for digital advertising and online marketing services. In fact, a survey conducted by the Hong Kong Advertisers Association (HK2A) and market analytics company Nielsen found that the region’s 100 major marketers plan to spend about 60% of their budget on digital advertising and 40% on traditional media strategies. Additionally, a survey also done by the same institutions in 2020 indicates that online advertising spending is expected to continue to rise with most respondents saying that their company will spend more money on online advertising in the upcoming years. Out of the budget allotted for digital, a substantial portion is spent on social media marketing.

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How to Win the Hearts and Trust of Hong Kongese Consumers

With an overall economic freedom score of 89.1, Hong Kong remains one of the freest economies in the world, placing 2nd in 2020 behind Singapore. The US-based Heritage Foundation explains that countries with high economic freedom have business-friendly tax codes and governments that encourage innovation and entrepreneurship. The liberty granted in the business sector of Hong Kong creates more opportunities for companies to develop in the country. Additionally, foreign brands have a high chance of penetrating the local market.

Heritage Foundation studies also show that people of top-ranking countries live longer, have better health, are more educated, and have better ecological protectors. Considering these attributes for Hong Kongese consumers would indicate which businesses have the potential to flourish in this market. To set up shop in Hong Kong, marketers would have to identify what these economically free people need.

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