Tue 22 March 2022 – ACBC Victoria was pleased to host a webinar event in collaboration with the Global Victoria Trade Alliance, ‘Improving Your Export Opportunities Through Research and Market Insights.’
We would like to thank our speakers Nick Henderson (Victorian Government), Christopher Kong (One Step Ahead), Isabel Zhang (Bastion Insights), Eric Yu (United Media Solutions) and Ryan Molloy (Redfern Digital) for their engaging insights, expertise and understanding of the Chinese market – not as a monolith, but one that is increasingly fragmented and complex yet filled with opportunity.
Moderated by ACBC Vic Events Coordinator Zach Eggleston, speakers introduced consumer-centric and data-driven approaches to marketing, cross-cultural considerations, understanding China’s digital landscape alongside consumer demographics, and marketing strategies based on the latest e-commerce platform trends and updates.
Victorian Government’s Deputy Commissioner to Greater China Nick Henderson, opened the session and highlighted the role of understanding consumer segments to drive your value-proposition and maintain differentiation in the market. This is key to grow and create ongoing success in the China market – a challenge for which businesses are often unprepared after experiencing initial breakthrough.
Christopher Kong (One Step Ahead) emphasised the importance of consumer-centricity for business success using data-driven approaches. He addressed five key barriers to achieving this consumer-centricity and outlined the strategies utilised by leading companies to overcome them, such as predicting (and influencing) trends through predictive analytics and machine learning. Chris also discussed how being truly data-driven involves finding new talent and provided tips to leverage data talent, such as defining the right roles to bridge the disconnect between tech and business.
Isabel Zhang (Bastion Insights) continued the conversation with a focus on cross-cultural insights, which are essential for successful localisation and in-market activation that needs to be agile and customised at the same time. ‘One sizes does not fit all’ was the overall message, as businesses must navigate the complexities of different social systems in consumer markets, such as different hierarchies of decision-making factors and cultural nuances that cannot be captured with direct translations of foreign brand marketing.
Eric Yu’s presentation (United Media Solutions) navigated through China’s digital landscape and into the minds of how Chinese consumers search and choose e-commerce goods. He highlighted what consumers value – convenience, value deals, a safe shopping experience and options – and profiled the new buying power of key demographics, such as the rise of Xiao Zhen Qing Nian or ‘small-town youngsters’ as a powerful market segment.
Ryan Molloy (Redfern Digital) profiled major consumer platforms in China with an emphasis on understanding the trends and changes within each platform, as each have different functions and purposes suitable for specific stages in the consumer relationship. He gave practical advice on how to grow brands and convert awareness to sales with a goal of growing trust rather than sales alone, as well as a provided a snapshot of a recommended marketing budget.
The session concluded with a key takeaway that the convergence between what consumers say and what consumers do can only be bridged by deep understanding of their behaviour – whether gathered through data, cross-cultural insights, digital platforms or improving business practices.
Watch a recording of this event on the ACBC Insights Centre here.
To access speaker presentations, please see here: