5 Tactics For Leveraging Opportunities In Indonesia
With many developed nations still working their way out of the Great Recession and several emerging markets experiencing their first cooling periods, its easy for brands to succumb to “expansion exhaustion.”
However one emerging nation that warrants a fresh look is Indonesia, which continues to hold tremendous potential for brands that can pay close attention.
1. Make the most of Indonesia’s extraordinary diversity. Leverage Indonesia as a pilot market for regional launches or your global developing-markets strategy.
2. Get to the grass roots of change – you won’t unearth the wealth of opportunities simply conducting focus groups in Jakarta. Talk to people in their homes, on the streets and in transit to get an authentic feel for unmet needs.
3. Engage the youth. With more money than ever before, tomorrow’s entrepreneurs are making themselves heard and represent remarkable opportunities for brand owners.
4. Actively contribute. Consumers want brands that show they want to be part of Indonesia’s future. How can you do this as a true expression of your brand?
5. Make it modular – take into account the astoundingly complex retail landscape when creating brand identity systems and shopper programs, allowing for clear communication across channels.
With its large population and young labor force, Indonesia is in the midst of a consumer-spending boom that analysts say could last for years. In March 2013, the Boston Consulting Group projected that middle-class and affluent consumers in Indonesia would double to 141 million by 2020 – more than the entire population of Thailand.
Marketers, don’t overlook Indonesia’s undeniable potential! For more insight download our latest issue of Patterns - Marketing Forward: New Insights to Drive Brand Performance.