“At the end of the day, it’s about articulating a promise to your audience that is both relevant and appealing and that you can then deliver on that promise,” Daun said.

However, he cautions that it is essential that brands adopt a variety of approaches when going into different regions and markets. Marketers must make the right effort to ensure that topics, messages, tonality, imagery and especially cultural references are attuned to the markets in which they work.

“One of the biggest mistakes any global brand could make is to look at Asia and consider it one homogenous market. We all know that this is not true,” Daun said. “Putting the right balance between being recognised as a truly global brand, while simultaneously acknowledging local needs and nuances, –  [is] something you have to get right.”

Personalising the message also requires being attuned to local and cultural differences. Jacqueline Choi, head of marketing for Prudential Hong Kong Limited, feels passionate about it.

Choi’s team at Prudential did extensive research, which resulted in the brand sponsoring the Double Ducks floating installation at Victoria Harbour. The ducks had a profound resonance among people in Hong Kong, the research showed, so the brand endeavoured to place itself with that connection.    

“They wanted to bring back the rubber ducks, so without hesitation, we immediately asked to be the event's lead sponsor. Naturally, as a marketer, we are focused on creating that human resonance,” she said.

Partnerships 

Marketers agree that creating the right partnerships is vital for brand marketing. Hanane Sabri, head of racing marketing at Hong Kong Jockey Club, said that they rely on purposeful partnerships to reposition the racecourse as a lifestyle entertainment destination in order to recruit a younger audience and cultivate the next generation of racing fans.
 
“Indeed we aim to build more engaging experiences with the support of partners and sponsors to position the racecourse as a lifestyle destination,” Sabri said.

Looking ahead, Colliers Hong Kong, head of marketing and communications, Cecilia Chan, added that partnerships will be critical in 2024. “One of my favourite quotes is one plus one equals three, and that’s what you get with partnerships. Whether it’s with media partners, industry stakeholders, or clients, it’s through partnerships that we can do better and bigger things.”

Watch the 2024 Marketing Predictions Series. 

• Cecilia Chan, head of marketing and communications, Colliers Hong Kong
• Jacqueline Choi, head of marketing, Prudential Hong Kong
• Dr Winfried Daun, group head of advertising, brand strategy and media, UBS
• Hanane Sabri, head of racing marketing, Hong Kong Jockey Club (HKJC)
• Cheuk Shum, head of marketing, Wealth and Personal Banking, HSBC Hong Kong