On my recent trip to India, I was amazed at the changes in population demographics and psychographics. It was indeed a youthful India that I encountered.
It was not just meeting young people brimming with entrepreneurial energy that impressed me, but also encountering the middle aged and older Indians with a refreshingly and decidedly younger mindset that took me by surprise!
Australia’s multicultural environment is no secret, and marketers cannot afford to ignore the spending power of ‘new audience’ Diasporas.
This Festive Season, connect with ‘new audience’ Diasporas and tap into their enormous marketing potential by tying in with cultural festivities.
It’s not B2B, it’s P2P (People to People).
A critical piece in the missing puzzle while doing business with India or China is cultural understanding.
Relationship matters in building trust and only when there is trust will the Asians do business with Australians. Yet how often do we hear Australian business leaders say – ‘let’s cut to the chase’. Impatience can often blow a great business opportunity out of the window in seconds.
Once upon a time YouTube was home of rich media formats. Today, rich media, as we know it, has evolved and is travelling across the World Wide Web for bigger and better things. Just like a ‘selfie’, it has found its new home on social media platforms and it is here that it is screaming for attention to all who are willing to listen.
I’ve been a self-proclaimed Sydney-sider for almost nine years now. Having had a culturally diverse upbringing in four different countries, prior to making Sydney home, I can say with confidence that my new home is one of the most diverse. The very suburb I live in ranks 11th in the recent SBS interactive “how diverse is my suburb”, representing 125 different ancestries. Chinese makes up the largest chunk followed by Australian, Macedonian, Greek, Lebanese, Nepalese and Indian.
Has anyone ever really stopped to consider the success of ethnic businesses in the country we live in? Until I decided to write this article, I never really thought of the magnitude. Although it is a part of my job to chase down successful ethnic businesses, one takes the diversity of our business landscape for granted till one thinks about the big picture.
A staggering 30% of our population was born overseas. So many migrants have come to our land for reasons such as fleeing war, chasing family, sheer curiosity, sanctuary from overbearing governments in their home lands, or stories of the Lucky Country that will open doors to newer opportunities for them to build a secure future.
Multicultural audience events are intrinsic to the life of every migrant in Australia, along with their children and their children’s children. Whether you speak a language other than English, were born overseas or have ancestral roots in another country – the link to culture is one that continues to thrive (no matter how long you’ve lived in Australia). Using cultural insights to effectively engage with these audiences, at the grass-root level, can be the difference between simply reaching them, versus giving them a reason to believe in your brand or product.
Acceptance of diversity is part of our society in Australia and Australians do diversity really well when it comes to opening doors to migrants from across borders and helping them build their future here. After all, close to 47% of our population were born overseas or have a parent born overseas, of which, approximately 25% of our overall Australian population are from Asian cultures. This is just a conservative estimation while we await Census 2016 figures.
Digital Disruption is no longer just a buzz word that describes the ascending age of technology and how it is disrupting the way business is done. Digital disruption is now a term that describes the environment in which today’s businesses function. It is not only about changing technology, but also about the pace at which technology is leaping forward and its impact on everything around it – from consumer behaviour to business strategy. It is now a reality that can become a business tool for growth, if leveraged strategically. One-third of the Australian economy faces imminent and substantial disruption by digital technologies and business models… .
India has undergone a rapid transformation in recent years and achieved strong economic growth. PM Modi’s initiatives such as Start-up India, Skill India, Digital India and Make in India will certainly contribute to this fastest growing economy with a GDP growth rate of 7.5%.
The recent Make in India conference and initiatives for which the Indian Finance Minister Mr. Arun Jaitley visited Australia is certainly a win-win situation for Australia. Australia’s research capabilities coupled with its innovation strategy can find the best home and scalability of operations in India. As a marketer, my prediction would be such initiatives will only strengthen the bilateral business relationship leading to more investments across both countries. Business migration is set to increase and it can only benefit Australia.