Tuesday, October 31, 2006
China! China! Get to know China!
Dear readers: just a little reminder about WHY we write this blog. Simply put, Insight303 is in business to help YOUR business. We want small agencies to succeed and we do everything in our power to arm you with what you need to win! So when we scour the trades and mass media for relevant news stories, we do so with the intention of bringing you insight on what you can do with the info. You might say we put general market news through the agency "human truths" filter. That's it, plain and simple, no hidden agendas. Our goal is to help you sell strategy to your clients...because when YOU sell strategy, it opens a door for us to do business together. So when YOU win, WE win. It's a beautiful thing. :)
So having said that, I can't say enough about this next topic: your agency needs to be paying attention to China! In case you've been living under a rock for the last year or so and haven't seen the news, TV, radio, or talked to another human being...China is arguably today's fastest-growing market. This means it has people - otherwise known as "consumers" - with tons of purchasing power, and it so happens, a penchant for brand name luxury goods. I'll say it again. It's EMERGING people! You may have heard my rant about the ad industry following trends and being generally slow on the uptake, so I'll spare you that...but I will tell you that if your agency isn't already intimately knowledgable about China, you need to be. Soon.
I know, not everyone has a client launching into or already in the China marketplace. But to be sure, just like speaking Spanish 20 years ago, knowing China by understanding its culture and people and having at least a basic awareness of the marketplace is a body of knowledge you don't want to be caught without 5 years from now.
The latest agency to make a move to keep pace with what's happening in China is AKQA, who made the move to ready for the 2008 Olympics. In addition, R/GA, and RGA/Razorfish have also opened offices in China recently.
So what can you do if you're not ready to open an outpost quite yet? A few ideas:
- Get to know the Chinese marketplace - understand the major companies, recent M&As, and who they're importing / exporting with
- Understand the Chinese consumer - there are tons of commissioned studies that you can buy or download free. Here's a good one you can buy if you have $3K burning a hole in your pocket, or access for free slightly dated research.
- Read how other companies have designed studies to educate themselves about China and seize market opportunity.
Whatever your method, you need to get to know China. STAT!
Dear readers: just a little reminder about WHY we write this blog. Simply put, Insight303 is in business to help YOUR business. We want small agencies to succeed and we do everything in our power to arm you with what you need to win! So when we scour the trades and mass media for relevant news stories, we do so with the intention of bringing you insight on what you can do with the info. You might say we put general market news through the agency "human truths" filter. That's it, plain and simple, no hidden agendas. Our goal is to help you sell strategy to your clients...because when YOU sell strategy, it opens a door for us to do business together. So when YOU win, WE win. It's a beautiful thing. :)
So having said that, I can't say enough about this next topic: your agency needs to be paying attention to China! In case you've been living under a rock for the last year or so and haven't seen the news, TV, radio, or talked to another human being...China is arguably today's fastest-growing market. This means it has people - otherwise known as "consumers" - with tons of purchasing power, and it so happens, a penchant for brand name luxury goods. I'll say it again. It's EMERGING people! You may have heard my rant about the ad industry following trends and being generally slow on the uptake, so I'll spare you that...but I will tell you that if your agency isn't already intimately knowledgable about China, you need to be. Soon.
I know, not everyone has a client launching into or already in the China marketplace. But to be sure, just like speaking Spanish 20 years ago, knowing China by understanding its culture and people and having at least a basic awareness of the marketplace is a body of knowledge you don't want to be caught without 5 years from now.
The latest agency to make a move to keep pace with what's happening in China is AKQA, who made the move to ready for the 2008 Olympics. In addition, R/GA, and RGA/Razorfish have also opened offices in China recently.
So what can you do if you're not ready to open an outpost quite yet? A few ideas:
- Get to know the Chinese marketplace - understand the major companies, recent M&As, and who they're importing / exporting with
- Understand the Chinese consumer - there are tons of commissioned studies that you can buy or download free. Here's a good one you can buy if you have $3K burning a hole in your pocket, or access for free slightly dated research.
- Read how other companies have designed studies to educate themselves about China and seize market opportunity.
Whatever your method, you need to get to know China. STAT!
