HK$7 million BUD Special Fund Supports Expansion into Mainland E-commerce Market
With the rapid growth of the mainland e-commerce market, a new wave of live streaming e-commerce has opened up broader opportunities for sales. It is estimated that by 2022, the mainland e-commerce live streaming market will reach a market size of several hundred billion. Hong Kong companies looking to seize this golden marketing opportunity not only need sufficient budgets but also effective influencer marketing strategies. Utilizing the BUD Special Fund designed for Hong Kong companies to fund advertising promotions can not only upgrade brand image but also expand the mainland market.
According to data from the Ministry of Commerce and the China Internet Network Information Center, the number of mainland internet live streaming users is expected to reach 560 million, accounting for 62% of the overall internet users. E-commerce live streaming has a massive audience, and they highly favor the live streaming sales model. Douyin, with over 400 million daily active users, precise recommendation mechanisms, and a wealth of influencer resources, has become a platform where businesses vie for attention.
This article shares the 6 key rules for attracting traffic to Douyin live streaming rooms recommended by Douyin officially. The BUD Special Fund’s Mainland program can assist Hong Kong companies in entering the mainland e-commerce platform, including hiring influencers for product promotion, advertising on e-commerce platforms and social media, planning, production, design, and shooting costs, all of which can be included in the scope of BUD Special Fund funding. In addition, while using BUD funding to purchase equipment, making good use of funding for advertising promotion can bring a higher return on investment.
Short Video Promotion
Before starting the live streaming, use short videos to preview the live content to fans, and succinctly describe the live time, content, and highlights in the video caption. Usually, posting a preview at least 3 hours in advance can achieve the goal of attracting traffic. If the live content is very important, you can announce it 1 day or even 3 days in advance.
Homepage Announcement and Preheating
Setting a fixed live time helps to obtain a stable audience. Remember to announce the live schedule on your Douyin account’s homepage for easy reference by fans.
Adding POI Points in Live Streaming Rooms
During the live streaming process, add POI points (Point of Information positioning). Douyin will draw traffic from POI based on the “location-based positioning” principle and push messages to fans. This not only helps with more precise marketing but also brings more marketing creativity to Douyin live streaming. For example, businesses offering services can distribute coupons in the live streaming room, allowing fans to obtain coupons and visit the store for services and discounts, converting online traffic into offline business.
Live Streaming Calls to Action
Repeatedly remind viewers to follow your Douyin account during the live streaming. Once they click the follow button, Douyin will automatically send a live streaming reminder to ensure they don’t miss your next live stream. This helps effectively guide viewers to the next live stream. Additionally, you can frequently announce the time of the next live stream during the current live stream because viewers who are currently watching the live stream are clearly interested in your content. Directly appealing to these highly targeted viewers can bring higher value.
Buying Traffic
Creating live streaming content requires manpower and costs. To achieve cost-effectiveness, a certain number of viewers are needed. For businesses accumulating fans, directly purchasing traffic is the fastest way to boost the popularity of live streaming rooms. Purchasing traffic from Douyin’s commercial tool “Toutiao Engine” is an encouraged traffic acquisition method by Douyin.
External Traffic
Multichannel traffic acquisition, such as announcing in advance on Weibo, WeChat Official Accounts, and Little Red Book, can guide people to your Douyin live streaming room. Generally, effective operation of Douyin marketing requires at least 2 to 3 months to see results such as the growth of Douyin fans. When deploying strategies such as Douyin marketing and Little Red Book marketing, companies should be well-prepared in terms of marketing budgets and make good use of the BUD Special Fund to sell advertisements or carry out various marketing plans. This has become a new way for Hong Kong companies to seek funding.
BUD Fund Application Emphasizes Project Rationality
The Mainland program of the BUD Special Fund can provide each eligible Hong Kong company with HK$7 million, with a funding ratio of 50% of the total project cost. While the BUD Fund offers substantial funding, it has strict requirements for the reasonableness of measures, budgets, implementation schedules, and BUD Fund project quotations. Errors in documents, incomplete measures, or unreasonable budgeting can lead to delays in the BUD Fund application process, and the application may be rejected or result in significant discrepancies in funding expectations.
For companies applying for BUD funding for the first time, BUD applications involving multiple measures, complex investment relationships, or companies lacking personnel to handle applications, using BUD Special Fund managers can help save time and reduce risks.
BUD Fund Consultants Have First-Hand Information
We have a deep understanding of the requirements for BUD Fund applications and approvals, helping to avoid various delay risks that may arise after submitting the application. Since the launch of the BUD Special Fund program, we have provided services to companies of various sizes. In addition to the BUD Special Fund, we also provide consultant services for other funding programs, aiming to maximize the amount of funding from an overall perspective.
To learn more about the BUD Special Fund, feel free to contact our BUD Special Fund consultants for a free case assessment.
