Happy New Year! As we welcome the year 2024 and prepare for the upcoming Lunar New Year, are you, as a marketer, facing challenges? During this period, Advertisers in Taiwan and other Asian markets celebrating the Lunar New Year grapple with the question of how best to strategize their sales and marketing activities to achieve Lunar New Year marketing success.
In light of this, Victor, the GM of FreakOut Taiwan, presents a thought-provoking perspective. He says, “What if I told you that the most effective approach is to sit back and do nothing? How would you react?”
Shifting Consumer Behavior
In recent years, influenced by multicultural interactions, the focus of online or offline sales in Taiwan has mostly shifted to the period between November and December. In other words, consumers have already stocked up on goods for the next quarter or even longer. The Lunar New Year, due to its uniqueness, typically occurs in January or February. In 2024, it will be in February. And this year happens to be the Year of the Dragon, a symbol widely cherished by the Chinese.[1]
Imagine Thanksgiving and Christmas merging into one; that’s somewhat analogous to the Lunar New Year. During this period, people tend to spend more time on travel, visiting hometowns and relatives. It’s a time when many find it hard to resist returning home. For many, the established impression of the Lunar New Year is synonymous with traffic jams.
Adapting to the Modern Consumer
So, returning to our initial topic, how should marketing be approached during the Lunar New Year? Due to the fragmented nature of modern information consumption, consumers have shifted from traditional TV and computers to mobile devices. Communicating with consumers in a fragmented way under limited conditions is more challenging than in the past five years.
Furthermore, if your online services cannot provide delivery due to Lunar New Year restrictions, it’s more suitable to schedule marketing campaigns before or after the Lunar New Year. In Taiwanese culture, it is inauspicious to spend the entire Lunar New Year at home watching TV or using smartphones. Most families have a tradition of going out during the Lunar New Year Festival[2], increasing the likelihood of being stuck in traffic rather than sitting on the couch watching TV and using smartphones.
Strategic Marketing Approaches for Lunar New Year Marketing Success
Therefore, when strengthening the online marketing budget, consider collaborating with offline channels or major online retailers in Taiwan. You should prioritize Youtube advertisements during the Lunar New Year period. You can also try FreakOut’s GP[3] service to detect the content consumers are watching and deliver appropriate ads.
In addition to YouTube, don’t overlook popular OTT platforms, as there’s no better time to binge-watch. Since major OTT platforms like Netflix and Disney+ do not offer advertising services in Taiwan, it’s advisable to choose locally popular OTT platforms. If you’re struggling with choices, feel free to contact FreakOut and try FO OTT to solve your dilemma.
Cultural Significance for Lunar New Year Marketing
Finally, if you don’t have video marketing resources and must promote during the Lunar New Year, consider using image-based advertisements featuring Chinese dragons or New Year symbols. Remember, temporarily avoid or reduce advertising targeting adult roles or parents in families. Their budgets significantly decrease during this time. This is due to the unique aspect of the Lunar New Year blessings culture we call red envelope tradition.[4] If the services you provide are related to financial lending, you may experience unexpected gains during this period.
The insights shared for Lunar New Year Marketing in Taiwan resonate across diverse markets with similar cultural celebrations.
Notes
[1] The Year of the Dragon refers to the zodiac sign associated with the Lunar New Year. Each zodiac sign carries unique symbolic meanings. The Year of the Dragon is a symbol of good fortune and luck.
[2] It’s a tradition during the Chinese New Year period to visit family, friends or temples to celebrate the auspicious start of the new year
[3] A new targeting method that does not rely on cookies. Instead, it identifies the content consumers are currently watching and delivering relevant advertisements.
[4] The red envelope tradition during the Chinese New Year, where money is gifted in red envelopes, symbolizes blessings, respect for elders, warding off evil, and motivating children. It serves as a way to express gratitude and good wishes in social gatherings.
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