How to Advertise in Hong Kong: How Brands Can Leverage on Modern Advertising
Hong Kong is a competitive business hub within the Southeast Asia region. Its administrative attachment to China puts it at an advantageous position in global trade. The unique administrative and financial structures require organizations to package and market themselves appropriately for both local and international market. Hong Kong’s economy is highly dependent on international trade and finance. It’s also considered one of the most favorable places to start a business in Asia.
Businesses that adopt an appropriate operating model and carry out result-oriented advertising have higher chances of thriving in Hong Kong. The numbers, the location and friendly polices make a good combination for business to grow exponentially.
Let’s Look at the Numbers
A Global Digital report published earlier in 2020 by We Are Social and HootSuite showed that Hong Kong’s population stands at about 7.47 million. In this city, internet penetration is about 91%, which means that nearly 6.76 million residents have access to it. Out of this population, 5.8 million are active on social media, accounting for 78% of internet users. Facebook is Hong Kong’s most popular social media platform, taking about 82%.YouTube and WhatsApp take the second and third places respectively.
The Interactive Advertising Bureau of Hong Kong (IAB HK) reported that mobile internet advertising accounted for 34% of total advertising spending in 2018. Paid search was also the most popular.
In 2019, the Nielsen’s Advertising Spending Projection found that advertisers 49% of advertiser’s budget was spent on online media while 51% went to traditional media.
This statistical outlook portrays Hong Kong as a market with huge potential especially in regards to digital marketing.
What Advertising Options are there?
It’s estimated that Hong Kong residents spend an average of six hours and twenty three minutes online daily, which includes nearly two hours on social media. This consumption of social media depicts the digital media as a suitable platform for businesses to reach out more customers and build large networks. Here are specific advertising options for any business
1.) Build a Company Website
A good website is an amazing asset for any organization. With the right knowledge and appropriate investment in SEO, a website acts as an authoritative, credible and reliable source of company information. A company website helps brands to build trust which you can leverage on in undertaking any kind of advertisement.
We look at your website as an online front office. People create perceptions and pick several ideas by simply visiting your website. From their interaction with your site, people will either be influenced to do business with you or decide to walk away.
Invest enough resources to ensure that your website is a true representative of your brand. Outstanding web design and content should be viewed as the first point of marketing and advertising your brand. First impressions matter and your website should be a good ambassador for your organization and brand.
2.) Facebook, YouTube, Instagram and Twitter
In terms of popularity and widespread usage, Facebook is the leading social media platform in Hong Kong. As of January 2020, 82% of people aged between 16-64 years were active Facebook users.
In spite of continued growth of platforms such as SnapChat and Instagram, Facebook still has a sustained global lead. In Hong Kong, influencers have become a common feature for Facebook advertising and general online advertising as well. In Hong Kong, the term Key Opinion Leaders (KOLs) is commonly used to refer to influencers.
The number of followers an influencer has in any given channel is a key determinant of their ability to market brands. Marketers categorize influencer numbers using the following parameters.
v Top Star : 200,000 followers and above
v Macro-influencers : 50,000-200,000 followers
v Micro-influencers : 10,000-50,000 followers
v Nano-influencers : 100-10,000 followers
v End-users : 100-1000 followers
In Hong Kong, Nano-influencers and micro-influencers are the most popular and frequently used for marketing purposes. However, Macro-influencers and Top stars too can have a huge impact and effectiveness in marketing brands. Instagram is rated as the most preferred choice for influencers, followed by Facebook and YouTube.
3.) The Search Engine Factor
Google is indisputably the leading search engine globally. In fact, other search engines perform considerably poorly in several countries. A 2020 report by analytics firm Statista affirmed that Google is Hong Kong’s leading search engine, taking about 90% of the market across all devices. This is contrary to mainland China where Baidu is the leading search engine.
Yahoo, Bing and Baidu take up the rest of Hong Kong’s browsing space.
Understanding the functionality of search engines is key to online success especially in Asia where several dynamics determine consumer purchasing models. Online survival is highly dependent on search engine optimization (SEO).Marketers must therefore choose the right digital medium if their brand building strategies will have an impact or bear fruits.
Why does Your Business Need advertising in Hong Kong?
Advertising never grows old and its importance is increasingly gaining prominence in the digital space. Large corporations and small businesses have to implement a combination of advertising approaches to grow their businesses. Why should and must you consider advertising in Hong Kong?
a) Grow local presence and recognition
Hong Kong is a fast-growing economic giant in Asia. The high penetration of mobile devices and the internet guarantees marketers a huge audience that spends a significant amount of their time online.
Depending on the nature of your business, you should aim at harnessing this unique aspect for the success of your brand. Once you achieve success locally, it’s easier to penetrate the international market.
b) Get above competition
Whereas traditional media was only reserved for organizations with a sizeable marketing budget, the internet is open for everyone and the distinguishing factor now is how creative you become with online campaigns.
The internet is nearly a level playing field for all brands and competition is stiff. In creating online ads, work with distinguished marketing companies that will present your brand authentically.
c) Cost Effective
In online advertising, businesses have more and better control over their budgets. Every platform has a clear guideline on the cost of advertisement and organizations choose how much they can spend in specific campaigns. You can also choose a digital advertising agency that perfectly suits your budget to help you work around your campaign.
d) Measurable Results
Digital advertising offers measurable results. There are several analytics tools that can help track performance across various platforms. At the same time, you can create ad campaigns that are specifically targeted at particular audiences. For instance, YouTube videos, Instagram posts and Insta Stories and Facebook posts may appeal to different audiences across the globe.
e) Feedback and Personal Connection
Social media is perhaps one of the best inventions facilitated by the internet. In comparison to traditional media such as TV or print, social media offers an interactive medium, allows two-way communication and prompt feedback. From this feedback, you are able to evaluate performance of all your creative efforts.
Why is advertising effective in branding?
a) Brand recognition
It takes time for a brand to grow, make a name and gain recognition among its customers. Advertising helps to elevate brands and give them an opportunity to be competitive in the market.
b) Increases Brand value
The positive message that organizations send out during their marketing campaigns tells consumers and competitors of your existence and openness to business. Advertising, in this case, serves as a welcome note and places the business on the proper trajectory.
c) Increases traffic
Digital advertising is heavily dependent on numbers. All efforts are geared towards increasing traffic and ensuring giving the brand more visibility online. This is an ongoing effort that must continuously take place. Advertising helps to drive more content consumers to your platforms, thus increasing the chances of converting them into paying customers.
d) Keeps consumers Up-to-date with new Trends
The modern consumer is always on the lookout for information and trending topics. This consumer follows brands that have an impact on his lifestyle, finances, health, entertainment, education and so on. Organizations that take social media seriously constantly keep their consumers updated. They give information on new products, they send seasonal greetings and generally remain tending at the top of the chart.
c) Is Shareit.hk influential on the advertising Scene in Hong Kong?
Shareit.hk is among the leading and most prominent online platforms where you can increase the visibility of your business. The platform lists nearly all categories of products and services you may need in Hong Kong and where you can get them.It’s an easier way of getting seen online and increasing the chances of reaching more potential customers
How does ShareIt.hk help you?
1. Increase ranking
A prominent platform helps you to rank better within search engines. As a platform that receives several visitors at a time, your online presence and visibility goes up.
2. Gain traffic
Businesses struggle to attract traffic both online and offline. With the right springboard, businesses can thrive immensely. ShareIt.hk gives businesses in Hong Kong a platform they can step on and launch to greatness. The platform is able to harness the strengths brought by like-minded players in a competitive approach. Each business gets an opportunity to be listed and make their footprint online.
3. Earn links from other sites through our advertising campaigns
ShareIt.hk constantly runs marketing campaigns to promote businesses in various niches. Getting listed on the platform allows you to gain links from authoritative websites and reviewers. This is an effective way to grow B2B and B2C networks.
The role of Online Marketing and Advertising Agencies
Any form of advertising is good for business as long as it delivers positive value. In Hong Kong and around the globe, using influencers for advertising has become a key part of doing business. Organizations without huge budgets to spend on influencer advertising can still successfully run in-house campaigns. These campaigns should be crafted with clear goals and timelines.
There are several branding and advertising agencies that can help to build and run successful online and offline campaigns. Such agencies are helpful in providing a detailed market insight for brands. They have experienced teams, the tools and the knowhow to evaluate a target market and audience for better results.