This month saw the unfortunate closing of real estate and property disruptor, Purplebricks. While some argue this is due to the property market, others say it was a lack of strategic localisation of their business strategy.
Which got me thinking...
We're asked on an almost daily basis by organisations based in Europe, the Americas, and across Asia about what it takes to resonate with Aussies and there are a few points we always raise:
- Tall poppy syndrome: It's broadly recognised this is hindering innovation in Australia, but the reality is, Aussies unfortunately don't appreciate a show-off.
- We love an underdog: Did you know, Starbucks never took off in Australia?! Most multi-nationals struggle until they've really harnessed their local angles and messages (which can't be about how great their HQ is!)
- By Aussies for Aussies: Got a local team on the ground? Aussie consumers and businesses, just like those around the world, are looking for personalisation and customised customer experiences. It's almost impossible to truly deliver this from another timezone.
What are the no-go's of your market?
He told The Australian that Purplebricks’ inability to succeed in the market was not driven by a lack of interest, or by a fixed-fee model not being feasible but instead by the company’s complacency in bringing a foreign model to Australia and assuming it would work without any adaptation.