InvestHK (Part III) (LUE4002)

Angel Garralda Ortega

27 Aug 202006:16

Summary

TLDREdith Wong, CMO at Invest Hong Kong, discusses the evolution of their communication strategy, shifting from traditional print to digital and social media. Post-COVID-19, they've transitioned to virtual events and webinars, focusing on business support during the crisis. They employ both integrated marketing and sector-specific approaches, tailoring messages for different industries like fintech and healthcare. Wong highlights emerging sectors gaining traction and sees potential in ASEAN markets due to digitization. She acknowledges challenges faced by Hong Kong but remains optimistic about its strengths and opportunities for growth.

Takeaways

📈 Edith Wong is the Chief Marketing Officer at Invest Hong Kong since 2019, overseeing marketing and communication strategies.
📰 Invest Hong Kong's communication strategy has evolved from traditional print and advertising to digital communications and social media.
🌐 In response to COVID-19, physical events have been replaced with webinars to engage with investors, focusing on business support and crisis survival.
🔗 Webinar recordings are shared on their website for those who miss the live events, ensuring continuous access to valuable information.
🛠️ The team remains agile and adaptive, constantly evaluating the effectiveness of marketing strategies and adjusting them as needed.
🌐 The 'new normal' due to the pandemic is expected to persist for the next few years, with a continued acceleration in digital transformation.
🎉 The annual Startmeup Festival, traditionally physical, has transitioned to a virtual event, reflecting a broader shift in event strategies.
🌟 Invest Hong Kong adopts both integrated marketing and sector-specific approaches to ensure messages resonate with different audiences.
📊 The sectors expected to gain more business include educational technology, cloud computing, AI, robotics, healthcare, and e-commerce.
🌍 ASEAN markets are seen as having significant growth potential, attracting US and European companies due to demographics and digital adoption.
🏙️ Despite global economic challenges posed by the pandemic, Hong Kong's strengths in fundamentals, legal system, and talent pool position it favorably for investment.

Q & A

What is Edith Wong's role at Invest Hong Kong?
-Edith Wong is the Chief Marketing Officer at Invest Hong Kong, a position she has held since 2019.
How has Invest Hong Kong's communication strategy evolved over time?
-Invest Hong Kong's communication strategy has evolved from relying on print publications and advertising to more digital communications and social media, especially due to the COVID-19 pandemic.
What changes did Invest Hong Kong make to their communication strategy during the COVID-19 pandemic?
-During the pandemic, Invest Hong Kong shifted from physical events to organizing webinars and sharing recordings on their website to reach their target audience.
How does Invest Hong Kong remain agile and resilient in their marketing strategies?
-Invest Hong Kong evaluates which marketing strategies are working and adapts their strategies accordingly, ensuring they remain agile and resilient.
What does the future hold for Invest Hong Kong's communication strategy?
-Invest Hong Kong anticipates using more digital channels in the next two to three years, as the pandemic has accelerated digital transformation.
How has the annual Start Me Up festival adapted to the new normal?
-The annual Start Me Up festival, which used to be a physical event, has gone fully virtual to adapt to the new normal.
Does Invest Hong Kong use an integrated marketing communication strategy?
-Yes, Invest Hong Kong adopts an integrated marketing approach to ensure all marketing channels spread the same core message about Hong Kong being an ideal place for businesses.
How does Invest Hong Kong segment their audience for communication strategies?
-Invest Hong Kong applies both an integrated marketing approach and a sector-specific approach, tailoring creatives to resonate with specific groups of clients or customers.
What are the emerging target markets and industry sectors for Invest Hong Kong?
-Emerging sectors for Invest Hong Kong include educational technology, cloud computing, AI, robotics, healthcare, and e-commerce. The growth potential of ASEAN is seen as a key market for attracting foreign and mainland investment.
What challenges and opportunities does Hong Kong face as a destination for investment?
-While the pandemic has affected the global economy, Hong Kong's strong fundamentals, including 'one country, two systems', the rule of law, free flow of information and capital, and a strong talent pool, present opportunities. The National Belt and Road Initiative and integration with the Greater Bay Area also offer advantages.
How does Invest Hong Kong amplify their core message across different marketing channels?
-Invest Hong Kong ensures that their website, social media, and print publications all spread the same message and cross-promote each other to amplify their core message.

Outlines

00:00

🌐 Digital Transformation in Marketing at Invest Hong Kong

Edith Wong, Chief Marketing Officer at Invest Hong Kong since 2019, discusses the evolution of the company's communication strategy. Traditionally reliant on print and advertising, Invest Hong Kong has shifted towards digital communications and social media to engage with investors, especially in light of COVID-19. The pandemic has accelerated this shift, leading to the cancellation of physical events and the organization of webinars to share business support measures and survival strategies during the crisis. These webinars are recorded and shared on their website for those who miss the live sessions. Wong emphasizes the need for agility and resilience in marketing strategies, adapting to what works and maintaining a consistent message across all platforms. She foresees a continued reliance on digital channels, even post-pandemic, and mentions the virtual transformation of their annual Start Me Up festival. Wong also explains the use of both integrated marketing and sector-specific approaches, ensuring that while the core message of Hong Kong as a business hub is consistent, the creative content is tailored to resonate with specific industry audiences.

05:03

🌟 Emerging Markets and Sectors for Invest Hong Kong

In the second paragraph, the focus is on the challenges and opportunities for Hong Kong as a destination for foreign and mainland investment. Despite the global economic impact of the pandemic, Hong Kong's strong fundamentals such as 'one country, two systems', the rule of law, free flow of information and capital, and a robust talent pool are highlighted as strengths. The national Belt and Road initiative and integration with the Greater Bay Area are also seen as advantages for attracting overseas and mainland businesses. The sectors that are expected to gain more attention and businesses include educational technology, cloud computing, AI, robotics, healthcare, and e-commerce. Additionally, Wong identifies ASEAN as a promising market for growth due to favorable demographics and digital adoption, attracting US and European companies to expand their operations in the region.

Mindmap

Keywords

💡Communication Strategy

A communication strategy refers to the plan and approach taken to communicate effectively with a target audience. In the video, Invest Hong Kong's communication strategy evolved from traditional methods like print publications and advertising to a more digital and agile approach, particularly driven by the COVID-19 pandemic. This reflects the shift toward webinars, digital channels, and social media.

💡Digital Transformation

Digital transformation is the adoption of digital technologies to improve processes and operations. In the context of the video, the pandemic accelerated digital transformation at Invest Hong Kong, prompting the organization to increase its reliance on digital communication channels, such as webinars and virtual events, to reach overseas investors and clients.

💡Webinars

Webinars are online seminars or presentations that allow companies to connect with their audience virtually. Invest Hong Kong shifted to using webinars as a major tool to share business support information during the pandemic, replacing physical events. These webinars are recorded and shared online for clients who missed the live events.

💡Target Audience

Target audience refers to the specific group of people or businesses that an organization aims to reach with its marketing and communication efforts. In the video, Invest Hong Kong’s target audience consists of overseas investors and companies from mainland China looking to set up in Hong Kong, with specific efforts to address their needs during the COVID-19 crisis.

💡COVID-19 Pandemic

The COVID-19 pandemic is a global health crisis that has significantly impacted businesses and economies. For Invest Hong Kong, the pandemic forced a major shift in their communication strategy, including the adoption of digital platforms and virtual events to maintain engagement with their audience in the absence of physical events.

💡Integrated Marketing

Integrated marketing refers to a coordinated approach where all communication and marketing efforts are aligned to deliver a consistent message across multiple channels. In the video, Invest Hong Kong uses integrated marketing to ensure that all its communication tools, such as social media, websites, and print publications, convey the core message that Hong Kong is an ideal business hub.

💡Audience Segmentation

Audience segmentation is the process of dividing a broad audience into smaller groups based on specific characteristics, such as location or industry. In the video, Invest Hong Kong applies segmentation by adapting its communication for different sectors, such as financial technology and maritime, as well as different regions, such as mainland China versus overseas markets.

💡Sector-Specific Approach

A sector-specific approach tailors communication and marketing efforts to different industries or sectors. For example, Invest Hong Kong adopts this approach by creating customized messages for industries like financial technology, maritime services, and e-commerce, ensuring that the messaging resonates with each industry's unique audience.

💡Greater Bay Area

The Greater Bay Area refers to the region in Southern China that includes Hong Kong, Macau, and nine cities in Guangdong Province, with a focus on economic integration and development. In the video, the Greater Bay Area is mentioned as a key initiative that supports Hong Kong’s position as a hub for foreign and mainland investments, reinforcing the city’s economic importance.

💡Belt and Road Initiative

The Belt and Road Initiative is a global development strategy launched by China to improve trade and infrastructure links between Asia, Europe, and Africa. Invest Hong Kong views this initiative as an important factor that strengthens Hong Kong’s position as a key destination for foreign investment, particularly for companies looking to benefit from the region's economic opportunities.

Highlights

Edith Wong is the Chief Marketing Officer at Invest Hong Kong since 2019.

Invest Hong Kong's communication strategy has evolved from print to digital and social media.

Due to COVID-19, physical events have been replaced with webinars for investor communication.

Webinar recordings are shared on the website for clients who missed the live events.

Marketing strategies are continuously evaluated for effectiveness and agility in response to the pandemic.

The 'new normal' is expected to persist for the next two to three years, accelerating digital transformation.

Invest Hong Kong will utilize more digital channels for communication, including virtual events.

The annual Startmeup Festival has transitioned from physical to virtual due to the pandemic.

Integrated marketing approach is used to ensure a consistent core message across all platforms.

Sector-specific marketing strategies are applied to resonate with different client groups.

Both integrated and sector-specific approaches coexist in Invest Hong Kong's communication strategy.

Emerging target sectors for Invest Hong Kong include edtech, cloud computing, AI, robotics, healthcare, and e-commerce.

ASEAN markets are seen as having high growth potential, attracting US and European companies.

Hong Kong's strong fundamentals, such as 'one country, two systems' and the rule of law, are emphasized as advantages.

The National Belt and Road Initiative and Greater Bay Area integration present opportunities for businesses.

The pandemic has affected global economies, including Hong Kong, making the FDI landscape challenging.

Invest Hong Kong is optimistic about attracting overseas and mainland businesses due to its strategic location and initiatives.