International sports brands are making it big in China's sprawling market, but their journey to the world's second-largest economy wasn't always easy. Executives from some of the world's biggest sports labels shared their strategies in finding opportunities in the country.
In an interview during the East Tech West conference in Guanzhou this week, executives from ONE Championship, WWE, and Mercedes F1 told CNBC that among the key methods they used to penetrate the Chinese market is recruiting local sports figures.
Group president of ONE Championship, Hua Fung Teh, noted that the martial arts organization is currently in search of "the next Yao Ming" for ONE. However, people such as Yao come "once every generation," he revealed.
Teh went on to explain that putting "Asian heroes" on the global platform of martial arts has been the strategy to have an impact among Chinese consumers who are known for a deep sense of patriotism.
As for Mercedes F1, the company is only starting to build a name in the country. Head of brand partnerships for the company's Greater China unit, Harry Wang, noted that Chinese social media platforms helped improve the brand's popularity among Chinese consumers.
Lewis Hamilton, one of the top drivers of Mercedes F1, has amassed over one million followers on Weibo, Wang revealed. He explained that the team working for the Chinese market has discovered that it works best for the region if they come up with targeted content for each of the social networks in the country.
As for WWE, the company has been working on presenting storylines targeted especially for its Chinese audience. VP and general manager for the Greater China region, Jay Li, noted that the company's strategy is understanding the things that attract Chinese consumers.
Li said the martial arts entertainment platform recently established a new show that was produced in China, with music and storylines that make audiences in the country respond positively.
All three companies revealed that they are still working on several other strategies such as integrating their brands into the virtual reality (VR) and augmented reality (AR) segments in Chinese technology.
Meanwhile, the China Sports Culture Expo & China Sports Tourism Expo 2019 (CSCTE) that will be held from November 28 to 30, 2019 is expected to attract international sports brands so they can learn more about concepts and strategies that Chinese audiences like.
This year's conference will also showcase the country's move of internationalizing business connections with international sports labels that are desiring to benefit from the Chinese market.
