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Magnetic Asia is a full-service event production and marketing agency based in Hong Kong. Its mission is audience-centric, delivering meaningful and memorable event experiences across all genres.

A pioneer of the city’s event scene, Magnetic Asia was formed over a decade ago by the founders of the Clockenflap Music & Arts Festival, the biggest of its kind in Hong Kong.

Over the years, the agency has worked with an expanding portfolio of global and local partners on every kind of event, from festivals and concerts to theatre productions, brand activations, and conferences.

With the team’s expertise and experience, Magnetic Asia is the perfect partner to help capitalise on the growing audience demand for genuinely moving branded events, experiences, and activities.

The agency’s services include

• Event conceptualisation and design
• Project Management
• Musician booking
• Art curation
• Creative Direction
• Event design and production
• Stage production
• esb电竞数据投注电脑版 and PR
• Sponsorship consultancy
• Brand activation curation/production
• Crowd safety planning and ops
• Ticketing and RFiD
• Event I.T.

You can contact Magnetic Asia at  www.magneticasia.com

This content was sponsored by Magnetics Asia

Marketers are currently tapping into Hong Kong’s rapidly growing pre-owned luxury product market. WatchBox’s marketing director, Natasha Li, spoke with Sharon Kwok about how the company has adopted an omnichannel strategy to unlock the underestimated potential of the city’s timepieces.

Based on global sales over the last 15 years, WatchBox estimates that there is close to US$400 billion of watches sitting in people’s watch boxes around the globe. 

“Hong Kong, the US, and China make up the three largest watch markets in the world, and Hong Kong is on top. This is why the founders of WatchBox saw an untapped opportunity to create a trusted omnichannel platform, offering liquidity to watch collectors around the globe and change the landscape of a currently very fragmented sector of the luxury watch industry,” Li said.

WatchBox is a global platform specialised in buying, selling and trading of pre-owned luxury timepieces founded by watch industry veterans Danny Govberg and Tay Liam Wee. The company established dual headquarters in the United States and Hong Kong in Q4 of 2017 and continues its global expansion with a division recently launching in Neuchâtel, Switzerland in Q2 of 2018. The founders believe that pre-owned timepieces have the potential to lead the watch industry’s next revolution.

“Obviously Asian customers are now being more open-minded towards pre-owned products. People go for pre-owned watches because some models are no longer in production, or they are looking for a specific model.” Li explained.
She adds, “There is an increasing number of millennial customers that don’t have a problem buying pre-owned products, and they are looking for something new, trendy but with quality. Some of them just want to keep the watch for a short period of time, then they can sell it and buy another model.”

Li expanded that part of the allure for consumers was that the value of some luxury timepieces may increase over time and that some customers purchase as a long-term investment.

“Some brands can hold value better than others. But whether the pieces would increase in value depends on many factors, such as whether the model is still in production, the auction price, market demand, mechanical and cosmetic condition of the piece, and availability of the accessory sets and paperwork.”

Li said that while the average watch price is US$13,000 at WatchBox, in Hong Kong, the average sales price is significantly higher, approaching US$20,000.

“We allow the market to drive pricing for watches. We have extensive data on watch prices from our own experience as well as our proprietary technology that has recorded millions of watch transactions. We use big data to predict the price that a watch will sell on the market, combined with solid estimates of the cost to refurbish them to like-new condition, to offer a fair valuation for watches submitted to us.”

WatchBox offers an extensive selection of pre-owned luxury timepieces, including exclusive, hard-to-source and limited production models by 40 leading watchmaker brands. Approximately 4,000 pre-owned pieces are currently in stock. With over $400B of watches that have been exported from Switzerland in recent years, there is no shortage of supply.  
“Trust, pricing transparency and authentication are central tenants to WatchBox. At WatchBox we have pre-owned luxury watch specialists and expertly trained watchmakers responsible for the authentication, verification and presentation of each and every watch that is offered for sale.”

Li commented on the company’s omnichannel approach to the pre-owned luxury watch category in what is traditionally a brick and mortar industry:

“We see many others just adopt the brick and mortar directly on the online store, but that doesn’t work. We provide so much function in our WatchBox app and online educational content to educate our customers before they make the purchase decision or meet us in person.”

Technology plays a crucial role in the company’s approach. Through the mobile app, customers can access an extensive inventory catalogue of pre-owned watches, real-time pricing valuations, sell/trade functionalities, augmented reality “try-ons”, educational knowledge, collection management advice, tech support, as well as interactions with the larger horological community. The company also leverages its website, social media, and dedicated concierge teams with personalised client service.

“We believe that vertical selling is the key to any brand’s future success and we believe we are bringing this to the watch market. In recognising the limitations of an online shopping platform and the fact that a traditional store environment is not aligned with the interests, behaviours, and needs of many modern consumers, WatchBox developed its personal commerce division as a solution to client needs.”

WatchBox also believes editorial content is key to the modern eCommerce experience. It launched WatchBox Studios as an in-house creative studio and video production division to connect with global consumers. Representing the foundation of WatchBox’s digital media strategy and the company’s position as a video-first frontrunner, WatchBox Studios produces daily live streaming programs, hands-on watch reviews, and educational videos for users.

Li said collaborations work especially well in the Hong Kong market where the company has worked with fashion brands to launch events for members. It also hosts highbrow private events such as whiskey and wine tasting to engage customers and create occasions for them to talk about watch products.

Looking forward, WatchBox’s goal is to elevate the pre-owned market and give value to the secondary market. As customers gain profits from their existing collection, they’re enabled to purchase new watches at a faster rate.

In 2018 WatchBox expanded to Switzerland and South Africa. In 2019, it plans to expand to other regions including other Asian countries and to the Middle East. For its e-commerce business its seeking to continue growth rates of 35%-40%.
Li explains, “We are operating at a US$200 million run rate for 2018, and are looking to achieve a US$500 million annualised revenue in the next 2-3 years.”

In this new age of social media, people are connected and empowered like never before. Every voice on the internet matters and mishandling of the smallest complaint on Facebook can escalate into a full blown public relations (PR) crisis.

Mannings was the latest high-profile example of a major brand being caught in such an event, after they filed a theft charge against a 77-year-old cleaner who was later found not guilty.

While the crisis is now over, much can be learnt to handle similar situations in the future. A recent study by ClusterTech, an advanced IT solutions and consultancy provider in Hong Kong, extracts insights about the saga, collected through all major social channels.

How “crisis intelligence” could have prevented the crisis

The Mannings saga unfolded on 16th January, and gained momentum on the following two days. If we look at the timeline of the incident, we can pinpoint a few moments where things went from bad to worse. What if the brand owner was well informed of the situation and proper actions were taken? The outcome could have been very different. By constantly monitoring social media conversations, a crisis intelligence tool is able to extract insights over a number of dimensions, identify issues in real time, and automatically alert brand owners to act. The key insights that could have prevented the saga from escalating into a full blown crisis:

Key insight 1: who are influencing public opinions (top influencer participation):

The study recorded mentions by top influencers on Facebook, media outlets and online forums. On the 16th January, there was only one mention, by a media outlet; on the 17th, the counts went up to five on Facebook, three on media websites and five on online forums. This sharp increase continued to the 18th January. By the end of the 18th, the incident had become a full blown crisis - 14 on Facebook, 11 on media websites, and 10 on forums. If Mannings received timely alerts of the problem, they could have taken earlier action.

Key insight 2: public perception of your brand (sentiment analysis):

Sentiment analysis results show that anomalies were detected many times, as the saga was developing. At 8:00 pm on 17th January, negative sentiments on Mannings’ Facebook fan page were 400% higher than expected. At 8:45 pm, it went up to 900%. At 12 am, it was a whopping 1,900%. This was a serious warning of an imminent PR crisis, and the brand should have reacted much more quickly.

Brands need “crisis intelligence”

Preventing a PR crisis starts with identifying early warning signs. By sensing threats early, brand owners can take appropriate measures before such threats swirl into crises. This sounds like simple logic but most brands struggle to do so, because they are dealing with not just one but multiple channels. Billions of conversations are happening online every day. A media intelligence tool can help monitor social mentions, but it would fall short in terms of picking up signals of potential crises. A crisis intelligence system, in contrast, can identify threats, and send alerts to brand owners, prompting them to react immediately, with actionable insights – who are influencing public opinions, and more importantly, what are the sentiments shown in online conversations.

In order to stay ahead of crises, brands need powerful intelligence tools that can achieve the following:

Multi-Dimensional Analysis: In addition to media exposure analysis, it should be able to analyse users’ sentiments by performing in-depth analysis of online conversations.

Intelligent Alert System: Once threats have been identified, it is vital that brand owners are alerted, so they can react immediately.

Extensive Data Collection: The data collected must be extensive and relevant, including activities from not only your social media accounts, but also major media outlets and KOLs alike.

Intuitive Reporting: Data presented in a visual format is easy to understand, and can help brand owners make timely and informed decisions in the face of potential crises.

PRISMA Crisis Intelligence - an innovative PR crisis management tool

In a PR crisis, brands are expected to respond with empathy, transparency, and speed. There is little tolerance for responding in a dismissive corporate voice. PRISMA Crisis Intelligence is able to cut through the noise, identifying the conversations that matter. It monitors context-based conversations on social media, generates analysis results, and gives alerts with an industry-leading latency of 15 minutes, allowing brands to respond effectively.

In conclusion, even though we are living in a world where billions of conversations occur online every day, and given that a crisis can arise from any channel at any time, a crisis management tool can help brands react in a timely manner.

To know more about PRISMA Crisis Intelligence, click here .

This article was brought to you by ClusterTech Limited.

According to the latest Ipsos Media Atlas readership survey, all seven major publications of Sing Tao News Corporation (STNC) recorded readership growth, with the Headline Daily notching up a new high of 1.25mil readership. In face of keen competition in the media market, the group has succeeded in maintaining its popularity and mainstream status with its professional approach, quality content, and strategic positioning.

The group’s wide range of titles spreads across the mass media to vertical and premium segments, covering education and parents, recruitment and management, and more, while its major readership covers the middle to upper classes.

To highlight its outstanding performance across the board, STNC recently launched a series of branding campaigns which has achieved good impact and received positive feedback. Meanwhile, it has further extended its competitive edge and bolstered market awareness of its well-established multiple and vertical digital platforms. The Group shows the market its dedication in providing online to offline (O2O) complete solutions tailored to marketers’ needs.

For instance, in addition to leading digital players like Bastillepost, Ohpama, Headline Jetso App, the group also offers a full range of quality digital and social platforms, like ArtCan, Cars, Sing Tao education and property web and app, including the newly launched Smart Parents Popnews Channel, and more. Furthermore, the group has set up a new digital marketing company, Shimba, early last year, to provide one-stop marketing solutions with multi-platform access and comprehensive print-to-digital services.

This article was brought to you by Sing Tao News Corporation.

This report will dig into how to turn your information into insights; how to turn your data swamp into a gold mine; and how to make your CRM work for you, rather than the other way around.