China represents an enormous opportunity for Western businesses. It’s home to 1.4bn inhabitants, international trade represents 47% of its GDP, and total retail sales of consumer goods hit US$4.84trn last year.
James Snider, co-founder and CEO at Punch!, said: “The opportunities are immense, but gaining traction in China is culturally and commercially complex. This is why we’ve partnered with Singing Grass, an expert business consultancy that advises on access and development strategies for the Chinese market.
“In tandem with Singing Grass, our plan is to make meaningful, long-lasting inroads into the Chinese market and open up a new world of opportunity for our current and future clients.”
Alicia Liu, founder and managing director of Singing Grass Communications, said: “A lot of very successful Western brands flounder when trying to establish themselves in China because they don’t understand the idiosyncrasies. Aside from the language barriers, many businesses are state-backed, for example, and despite being at the forefront of the digitised global community, personal, in-real-life connections remain enormously important to Chinese businesspeople.”
The pandemic has had an enormous impact on B2B marketing all over the world, including in China. Snider said: “Our approach to B2B marketing is a good fit for the Chinese market, which still expects an interactive, lively and ‘human’ approach. We don’t believe that engaging sales and marketing tactics should be the preserve of B2C marketing.
“Exciting people and making them feel as though they are interacting with brands on a personal, intuitive level is what we’re all about, and this will work especially well with the Chinese mindset.”
Punch! is already well established in the European market and has a partnership to deliver programmes in the Middle East.
It recognises that having 'feet on the ground' is needed in certain territories, to account for cultural nuances and regional complexities, so partnering with a Chinese specialist like Singing Grass is the best route to market as Punch! continues on its growth journey.
This partnership will add value to Punch!’s clients which are looking to execute campaigns across multiple territories - providing them with the expertise and experience that only a market specialist could offer.