New Millward Brown research shows Chinese brands are now equal to international brands in Brand Power – the BrandZ measurement of brand equity – meaning they are equally competitive in many ways. International brands are failing to keep pace with the aspirations of consumers in China, and the speed of the mobile wave.
Brands targeting young consumers in China must be bold, understand their values, and speak to them in their language. The post 95 generation favors adventure, exploration and the simple things in life. Marketers should adopt an unconventional route to reach them, talk to them and touch them.
BrandZ research from Millward Brown proves marketing is the most important investment a brand can make to ensure long-term financial success, and resiliency in challenging economic times. Chinese brands need to focus on “being different” over the next decade to fully compete with mulit-national brands in China, In a world with so much product similarity, brands consumers view as “different” achieve higher value.
Content is still King in China but attention is at a premium. The average Chinese consumer flirts with multiple screens and spends 56 percent of their leisure time on a smartphone – more than double that spent on TV in a normal day. Ads must be well branded and engaging to grab consumers’ attention in a short window of 3 seconds.
Internet +, O2O and Digital have become sweet spots for traditional brands trying to innovate and seize new opportunities in the digital age. At the same time, we are seeing a new trend among internet brands that are rethinking the fundamentals of their brands and brand building efforts and focusing on enhancing their brand influence in the “physical world”.
Multiscreen users in China are among the world leaders when it comes to watching video content across devices, especially on digital channels, but they are resistant to video ads. What can marketers do to improve receptivity?
Chinese businesses outperform the global average in delivering “Data Driven Customization” and “Touch Points Consistency.” Chinese brands also score higher on experimentation and collaboration. However, they’re not as “customer obsessed” as their global counterparts. Customer Centricity is a top priority for the leaders at 91 percent of the global over-performing companies, compared to only 67 percent in China.
Virtual economy big shots in China are continuously making investments, mergers or acquisitions in hot territories, from O2O and entertainment to e-commerce. They are also maintaining growth and strategic placement by leveraging each other’s advantages in a change or be changed environment.
If advertisers want to improve consumer receptivity to advertising, they need to make changes now. Consumers are fed up with intrusive advertising that’s not relevant to them, and adblocking has become a serious issue.
With the rapid rise of automated, programmatic buying, CMOs have a lot on their plates to maintain a grasp on the complexity of digital. Staying on top of targeting methods and outcomes, deploying better tracking and post evaluation are all important approaches to allocate budget wisely, reach the right audiences, and deliver ROI.
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Ad blocking in the advertising industry is a real concern. Consumers are fed up with the volume and the intrusion of digital ads and many are using ad blocking software services. In the first part of this two-part series, we share a few scenarios marketers should consider.
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After sharing two potential scenarios for a post-adblockalypse world in a previous article, we now consider the consequences of government crackdowns on digital ads. The consumer uprising against intrusive digital ads is a wake-up call for the industry. Nobody wants Doomsday or police state scenarios, but we’ll get one of them if we don’t act now.
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Is your brand immediately recognizable? Creating positive brand experiences and developing effective communications over time will keep a brand top of mind with consumers. This is essential to drive brand growth and protect a brand from competitors.
Digital big data helps marketers understand consumer behavior. But mining the relevant data from everything available can be challenging. It’s not enough to aggregate and trend it – the data needs to yield insights to help marketers make decisions for their brands in real time.
Marketers who actively seek out ways to build genuine brand trust with consumers can create a much stronger base for growth than faster, less engaging strategies may achieve. Embracing contradictions and integrating digital and physical marketing strategies are other lessons to be learned from Asian brands.
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Part of advertising success comes from delivering the right content to the right audience, in the right context. Millward Brown’s AdReaction Video study helps marketers understand how to effectively develop and distribute video content in a multiscreen world.
How we measure advertising success is not a new topic. The trend now is toward short-term behavioral response as the key measure of success. This is not only due to digital innovation – sales promotion and direct marketing have successfully pushed the performance marketing approach since the 1970s. With more media now bought and targeted using automated systems, the question of what represents success has become more urgent.
Is brand love real? The truth is, brands build emotional connections with consumers in a number of ways that are inter-related and work synergistically. Smart marketers architect the whole brand experience using product innovation, design and marketing to evoke a positive reaction across touchpoints.
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Advertising in magazines, newspapers and OOH is still relevant despite the fact that many marketers are focused on digital ad formats, and programmatic buying. Brand owners can learn from leading digital brands that are not missing the value of print advertising.
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MEXICO
Mexico is in a time of economic uncertainty. There is no open talk of economic recession but GDP shows little growth and the dollar reached an historical high against the Mexican peso, while trust in government is at an all-time low.
