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After six years in the Chinese market, this is how the Italian marketing expert understands localized marketing…
In his book "The Borderless World", Kenichi Ohmae, a renowned Japanese management scientist and economic commentator, focused on cross-border economic activities driven by multinational enterprises, which transcend the boundaries between countries so that it makes the world a borderless one. Companies wishing to expand their markets cannot do so without operating across borders or regions. "Localized marketing" is a key strategy that allows companies to integrate into local markets faster and more efficiently.
In our first Online Sharing and Networking Campaign for Entrepreneurs, we invited the Co-Founder and CEO of DYNAMIGS Consulting Davide Fassari to share his experience on localized marketing. DYNAMIGS Consulting specializes in helping clients enter the Chinese market.
In our interview, Davide shared with us mainly the following issues:
- What is Localized Marketing?
- How Localized Marketing help your business?
- How to develop a Local Digital Marketing Strategy?
Maintaining a global perspective in the wave of deglobalization
International trade has grown tremendously since 2000, with WTO data showing that total global trade has grown from $6.7 trillion in 2000 to $19.7 trillion in 2018, with a high degree of trade globalization. However, in recent years, due to many economic and trade frictions between major economies, international trade barriers have increased and global trade growth has stagnated. According to the CPB World Trade Monitor, global trade volumes fell by 0.45% in 2019 compared to 2018. It is the first decline since the global financial crisis in 2008. The so-called "deglobalization" wave has been brewing long before that, along with the 2016 U.S. presidential election, the "Brexit" and the rise of global populist political forces, globalization consensus began to suffer damage.
So in this case, do we still need to think globally?
According to the principles of economics, the different resource endowment advantages of each country determine that through international trade and the division of labor in global industries, production costs and transaction costs will be significantly reduced. This is the most important variable driving the globalization trend in the long run and is not subject to anyone's will. Therefore, the current globalization process may be suspended or even reversed in stages, but it is unlikely to return to a "closed economy" in which each country is "self-sufficient". In the long run, along with the development of science and technology, the increase of productivity and the reorganization of political power, a more likely scenario is that globalization will be "reborn" at a higher level after the contradictions of the current globalization system are alleviated.
Today we are talking with Mr. Davide Fassari, an entrepreneur who thinks globally and acts locally. He tells us the story of his company DYNAMIGS Consulting in China.
From Shanghai to Dubai
Originally from Italy, Davide, a ten-year veteran of the marketing industry, co-founded DYNAMIGS with three friends: Natalino, Marco, and Stefano represented by the capital letters in the DYNAMIGS logos. Davide jokes that he and his three business partners didn't take the company seriously when it was first started. However, after receiving more and more cases and becoming more comfortable with local marketing in the Chinese market, Davide discovered that DYNAMIGS could become a touchpoint with the Chinese market for foreign companies. “After we understood the potential to offer this big opportunity to our clients, we decided that they only need to talk with one company offering a package service, becoming win-win for all."
Today, according to Davide, DYNAMIGS is not an individual company but a corporate group comprised of 6 companies around the world. "A consulting company in Shanghai, a service company in Hainan, a trading company in Shanghai and Hong Kong, one specialized in material construction trading in Dubai, and one just opened in Italy, to bring Italian companies into the Chinese Market. The idea is to offer a package of services: from establishing a company, design, events, digital marketing, e-commerce and all the business development in China, offering even trading services from China to the outside and vice versa."
Davide explained DYNAMIGS' localized package marketing strategy, using their client, NoKa'Oi, as an example. “For NoKa’Oi, we are doing the digital marketing at the moment. Every time we try to offer to our client all the package and after that is up to them to choose, after that we illustrate the possible strategy for the Chinese market.” DYNAMIGS provides localized social media services for clients. In China, the company focuses on localized social media account management such as Weibo, Bilibili, and other platforms, localized campaign strategy and execution, localized KOL collaboration, and more.
Davide's understanding of the Chinese market
When talking about how he understands the Chinese market, Davide said "after 6 years that I live in China, I can say to understand more the market, but as we know it is changing fast. When we talk with our clients or possible ones, we try to make them understand better the potential of the market and the strategy that we choose to develop their brand. With our specialized team in digital, e-commerce, design, project management, and business development, we can do it."
The impact of the pandemic on the world economy is profound. However, Davide remains optimistic about the current state of the Chinese market: "At the moment, due to the pandemic era, the Chinese market is the only one that is moving on, so I think all kinds of companies can be attracted by this market."
The key to success for brands - localized marketing
Under the general trend of globalization, enterprises must adopt the strategy of "localized marketing". Through research on local culture and customer needs, companies will adjust their brand image, product design, and promotion methods locally. All business activities are centered on the consumer, thus helping the brand to succeed in the competition.
For companies looking to enter the Chinese market for brand marketing, Davide suggests “About the perspective of the marketing, it depends on the brand, field, etc. For sure a balance between the online and offline activities.”
We invited Mr. Davide Fassari to have online communication with HoloBase members.
The arrangement is as follows:
Theme: Localized Marketing: Why is it necessary for your business?
Time: September 8, 20:00 (Beijing Time)
Platform: WhatsApp group
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