10 things we learned this morning at China Ready, a Food For Thought event by Marketing
This morning, Marketing played host to the inaugural Food For Thought breakfast, a series of intimate events on focused topics important to Australian marketers.
This morning’s breakfast focused on understanding and communicating with the five different segments of Chinese consumers that spend in Australia, featuring experts in the field Robbie Burns and Morry Morgan.
Here are ten things we learned:
1. Studies show Chinese will read the whole page of search results, where Americans and Australians only look at the first two lines.
2. There is almost 10 times more competition selling Australian property to a Chinese buyer than there is for property in Spain, the UK or France.
3. The difference between China’s most popular search engine Baidu and Google is that setting up a paid search account on Google is free, whereas Baidu is not, and Baidu is government controlled whereas Google is privately owned.
4. There are a plethora of Chinese specific social media platforms, so instead of using a lot of them poorly, brands should pick one and do it well.
5. English is not the universal search language, and Google isn’t the universal search engine.
6. The Commonwealth Bank translation from English to Chinese implies that the bank is owned by the government which is why it is popular with Chinese Australians.
7. Rising commodity prices, availability of healthcare and income wealth gap are among the most common reasons Chinese migrants move to Australia.
8. ‘New Australian’ migrant families are the biggest Chinese market to tap into, according to Morry Morgan, author and consultant.
9. An estimated 50% of new properties purchased in Melbourne’s CBD are sold to Chinese buyers.
10. Tourism Australia predicts the Chinese tourism market to be $7.4 to $9 billion by 2020.