Media & Marketing

Could vaccine passports move the economic needle?

Some reflection is perhaps in order as we approach the second anniversary of COVID-19’s initial outbreak. 

Could vaccine passports move the economic needle?

Some reflection is perhaps in order as we approach the second anniversary of COVID-19’s initial outbreak. 

Asiaray net loss widens to $113.7m in H1 2021

This is because its new projects were still at the ramp-up stage, on top of the pandemic-related challenges.

Events are evolving, but is your agency standing still?

As the pandemic anxiety in Hong Kong recedes amid the relaxation of social distancing rules, local business sentiment is improving, with the help of measures such as the Consumption Voucher Scheme.   That sounds like good news to the hard-hit MICE industry. After the pandemic put a stop to face-to-face events more than a year ago, the industry explored new ways to meet demand for brand activation and audience-brand engagement, such as by shifting audience experience safely online or offering an increasingly ‘integrated experience’ – a seamless confluence of live physical and online content. These new product models helped the industry survive the pandemic; but with the worst of the emergency over, is it time to focus on preparing for a return to in-person events?   The answer is ‘no’. The new product models, and especially the integrated experience, are not merely stopgap measures or an outgrowth of contingency planning. Online and integrated experiences are plainly here to stay, in part due to their inherent applicability during future crises. Like the pandemic, we probably won’t see the crises coming – which is why we should always treat predictions with healthy scepticism.   As things are, though economic activity in Hong Kong has seen some improvement, it is still below pre-recession levels, and even the predictions aren’t entirely rosy. As shown in advance estimates on GDP for second quarter of 2021 released by the government in late July, the economic recovery of Hong Kong is slightly slower than expected and remains uneven: GDP rose by 7.5% from a year earlier, following 8% growth in the prior quarter.   Furthermore, the OECD’s latest Economic Outlook projects that global income at the end of 2022 will be around US$3 trillion less than was expected before the pandemic.   Other reasons why online and integrated will stay around are the same as before the pandemic: the experiences they offer can be both memorably distinctive and shared by a potentially unlimited audience, helping brands secure an impressive event ROI. The industry and market had already been moving in their direction, and the crisis merely accelerated the shift.   Virtual will become even more of a mainstay when the digital natives of Gen Z and Gen Alpha grow into consumer market dominance. At that point, offering a choice of participating in live events either in person or via a laptop or mobile device will become a best practice. Further development of the model will very much be in line with their expectations, habits and needs.   It is already obvious that agencies who embrace the integrated experience will be the most likely to sustain their business in the long term – but with one caveat; their success will hinge on whether they can actually deliver what they embrace. That – and even capturing future opportunities – will require fundamental organisational change.   In the past, MICE industry agencies were specialised ‘live event production experts’, ‘digital marketing strategists’ and so on. When it comes to planning and delivering integrated events, however, the process becomes hugely more intricate, complex and blurry. Input is required from a wider spectrum of creative, marketing, analytic, digital, technical and administrative talent, as well as a whole new level of coordination. Just as the boundaries between analogue and digital are erased, so will be the traditional boundaries between offices, teams and individual skill sets. As a matter of necessity, nobody can afford their own silo any longer.   The changes already underway may seem challenging, but it is worth noting that change is nothing new to the MICE industry; it is fast-changing by nature, requiring its professionals to continuously redefine and reimagine how to engage with audiences. As usual, the next industry renaissance will be led by those who can meet challenges with resilience.

Reader’s Digest reveals Hong Kong’s most trusted brands during pandemic

AIA, Caltex, and Sun Hung Kai are just some of the brands that made it on the list.

Why Hong Kong needs a corporate wellness paradigm shift now

By mid-June of 2021, more than 2.4 billion COVID-19 vaccine doses had been administered to populations in 180 countries, according to data collected by Bloomberg. While that may be encouraging news on its face, a return to ‘business as usual’ remains a distant and uncertain prospect; though COVID transmission rates are down in some countries, they have skyrocketed in others, causing yet more rounds of lockdowns and bringing economic activity to a virtual halt.

Marketing Briefing: 'Me-First' mindset to drive new consumer trends

“Phygital reality”, a physical and digital experience hybrid, is also making rounds.

Hong Kong TV rebounds to $183.6m profit after 2019 loss

The company posted a net loss of $289.9m in 2019 but bounced back during the pandemic.

Shootsta launches AI-powered branded video application

It will help sales professionals close deals faster.

Media firm Asiaray suffers another financial loss

Despite money currently heading in the wrong direction, the Group believes it can seize opportunities during the crisis.

Advertising budget cut expected amidst varying recovery in industries

Around 44% expect the decrease amidst likelihood of budget cuts in numerous sectors.

Navigating the New Normal of the Event Industry in Hong Kong

The COVID-19 pandemic has unleashed changes to our daily lives to an unprecedented scale in just a few months. In Hong Kong, trade shows, conferences, concerts and many other events are being postponed, rescheduled or even cancelled. We have been hearing people talk about the “new normal”, meaning a new way of living and disruptions in our habits and tradition relating to the way we live, work and interact with others. We cannot define what exactly the new normal will become. Things will just never be the same as they were before. Our new normal will continue to change, and it will change very quickly.

What makes a successful mobile ad campaign?

A 30-second ad gets 12% less in revenue compared to a 15-second ad.

HKB Listed Companies Awards is now open for nominations

Deadline of entries for the 2020 edition is on 17 April, Friday.

The search is on for HKB International Business Awards 2020

Deadline for nominations is on 17 April 2020, Friday.

(Not) in your face: OneOneDay makes ads less intrusive

The advertising startup allows their users to earn cash rewards when watching ads on their platform.

Must Garment wins apparel category at HKB Designed in Hong Kong Awards

The company designs sustainable jeans manufactured from recycled plastic bottles.