When you are thinking about your New Zealand marketing approach there are two critical questions you need to ask yourself: who are my customers and where are they spending their money?
These questions have taken on a completely new complexion thanks to NZ’s immigration policy.
Research indicates that 72% of migrants are financially stable compared to just 50% of Kiwis and that almost twice as many migrants hold a university degree compared to New Zealanders.
As in Australia, NZ’s apparent open door immigration policy has been called into question recently but the reality is many recent migrants bring enormous purchasing power to New Zealand. And their financial stability and consumer influence as a body carry enormous potential for your business.
The recent research conducted by Windshift also highlights a strong sense of customer loyalty among immigrants especially to those companies that make a connection with migrants and their diverse cultural backgrounds.
So, to our initial questions, do you know who your customers are and where are they spending their money you might now add what language do they speak?
This may be a new topic for many small business owners but it is a discussion that could reveal a wealth of potential new customers.
Do you speak the same lingo as your customers?
That doesn’t mean you need to learn Chinese, Hindi or any other foreign language but rather explore those aspects of your product brand and message that will appeal to these new New Zealanders.
In short, how can you tailor your message to get their attention?
And as you explore this exciting new income avenue you need to remain sensitive and aware to subtle cultural nuances to avoid your marketing messages being misunderstood, ignored or worse still causing offence.
Learning to speak their consumer language might seem like a lot of hard work but the potential rewards well outweigh the difficulties.
Remember, migrants, as a general rule, possess financial clout, a high level of education, and maintain product loyalty – now surely that is a market segment worth going for.
The information in this article is indicative of NZ tax rules and changes and not intended to be complete for all intents or purposes and does not constitute advice. It is recommended that you obtain professional advice, suited to your particular circumstances, from us before acting on anything you read.