Archive for April, 2009

Multicultural Marketing Case Study: Easy Forex

Friday, April 3rd, 2009

About the Client: Easy Forex is a major global Forex (FX) investment company with multilingual trading platform

Their Requirement: Easy Forex has a global marketing plan, supported by its multilingual customer service support team.

Our Services:

During our planning, we believe the best way to promote Easy Forex to Chinese investors would be through a combination of advertising and regular articles and investment commentaries.

We have formed long term relationship with Easy Forex – both from contents provision and also marketing point of view. Regular articles have been planned and accurate translations have been provided for Easy Forex to ensure the articles are correctly written and published.

Articles have been published through in-house and affiliated magazine as well as through publishing on specific Chinese websites, including many financial Blogs.

Direct mails have also been incorporated to reach investors who have shown interest in FX as well as other derivatives investments such as CFDs.

In addition, management interviews have been conducted with professional FX traders and strategists, and we have also arranged a number of investment seminars of which Easy Forex was presenting FX investment strategies to a large group of audiences.

Multicultural Marketing – Chinese Communities in the West

Friday, April 3rd, 2009

There is a common “Marketing Mistake” from marketing professionals that all the Chinese communities are very similar, and they are often confused of the differences between each Chinese culture.

Here is a list of common mistakes marketers or advertisers make when trying to reach Chinese communities in Australia, Canada or US.

1. More than just one language – The most commonly used languages are Mandarin, Cantonese and Hokkien. It really depends on where they came from – but in terms of written forms, thanks to the unification of languages - you only need to worry about 2 written forms – Simplified Chinese (used in China & Singapore) and Traditional (used in Taiwan & Hong Kong).

2. Different Dialects – As abovementioned, Cantonese used to be the most widely spoken language for migrants and is still a dominant dialect in many Asian communities, used by primarily earlier migrants. The rise of migration from mainland China has now seen a very rapid increase of Mandarin speakers, together with those from Taiwan initially, are now taking over Cantonese as the most widely used Chinese dialect. However, Taiwanese migrants also speak Hokkien, as well as many Malaysian and Indonesian Chinese migrants. Finally, people from Shanghai have a very large representation of today’s Chinese migrants, and Shanghainese is also becoming a very important dialect from marketing’s perspective.

3. Totally Different Culture – There is a substantial difference between Mainland Chinese migrants, Hong Kong migrants, Taiwanese migrants and SE Asian migrants. In general, those from Hong Kong, Singapore have received similar education systems as in the West, and tend to be better understanding in terms of finance and investments.

Those from Taiwan tend to have better knowledge in IT and international trades because they usually have successful businesses in exporting or electronics businesses.

Migrants from China vary from region to region, from cosmopolitan areas of Shanghai or Beijing to those from rural areas in China. It is impossible to form a generalization of Chinese migrants.

4. Different Social Status – Also different social status, in our research, the average wealth from mainland China is now rising very fast, with increasing number of China’s richest and middle class now migrating overseas.

Some particular Chinese communities consider social status more important than others, notably those from Shanghai and Hong Kong and Southern Taiwan, which in return, tend to spend more on luxury items and also more expensive properties.

5. Different Media – They also use different media – Chinese, Hong Kong and Taiwanese migrants read different newspapers and magazines respectively. Some newspapers are set up purposely for a particular Chinese community. In addition, they also watch different Pay-TV channels, including both satellite and IPTV Channels, even listening to different radio stations.

6. Different Websites – Also different websites, Taiwanese and Hong Kong migrants tend to use Yahoo more than other Chinese search engines or news portals, Chinese migrants tend to use more China-based portals including Baidu, Sina and Sohu.

7. Cultural Sensitive Issues – Politics is always a sensitive issue between the 3 main markets – China, Hong Kong and Taiwan. If you are negotiating with a Chinese speaking customer, always try to avoid political discussions.

8. Localization, not Translation – The new marketing buzz word is localization, not just translation. When translating a press release, you need to find professionals that can “localize” the contents to reflect their cultural, understanding and different views in terms of value or terminologies they use. I always like to give a good example – the word “Tomato” or “Chocolate” is translated completely different between China, Taiwan and Hong Kong.

Always look for a Multicultural Marketing Expert when comes to planning or even translations. Yes, you can find cheaper providers in China for your translations, but it is best to have professionals based in the West if you intend to target a particular Chinese community in those markets or at least to have someone to proof read and audit the translation as the minimum.

And never rely on software or Internet to perform translations to avoid embarrassments, despite of the convenience, the accuracy of translation has been notoriously bad, and Internet can never perform localization for you.

Multicultural Marketing Case Study: China Century Capital

Friday, April 3rd, 2009

About The Client: China Century Capital is a listed investment company with focus in investing in assets in China or Sino-Australian businesses.

Client’s Demands: The company was looking for a marketing consultancy specialist in assisting them to raise capital during the Pre-IPO and IPO period, as well as create public awareness about this investment opportunity.

Our Solutions:

There is a lot of investment interest from both Australian and Australian Asian Investors in this particular investment opportunity. We have conducted a number of marketing campaigns to support the company:

• Press Releases both in English & Chinese
• Ad Design
• Press Releases Distribution on various Asian Newspapers in Australia
• Extensive Web Marketing promoting the offer on different Asian websites
• Target Marketing – Individual Investors and Institutions
• eDM to investors and media professionals
• Blogs – Posting news and press releases on various Blogs
• Regular Management Interviews in Chinese & English to discuss about the investment projects in its portfolio
• Search Engine Optimization
• Chinese language website and updates
• Chinese Interviews in Chinese venture capital associations

China Century Capital is only one of the many clients in the financial services industry that has seen value in reaching out to both Asian investors in Australia and in international markets.

Chinese investors in Australia is the single fastest growing segment of investors, it is now becoming a very large investor community as well as increasingly wealthy. Their appetite towards investment is also very high due to decades of wealth accumulation, however, due to language and cultural barriers – sometimes it is very difficult for companies to reach these investors.

Combining our expertise in multicultural marketing and multicultural knowledge, we are able to provide a variety of reports and press releases to support our clients and this has generated substantial interest from both media and investors.

OUR UNIQUE ADVANTAGES

- Multicultural Marketing
- Multicultural Strategic Planning
- Multicultural Web Marketing
- Print Media Marketing
- Multicultural Target Marketing
- Asia Web Marketing

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St. Leonards NSW 2065
Tel: (02) 9439 4943
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