HSBC effort plays up local heritage

ASIA-PACIFIC: Banking giant HSBC has launched a worldwide multimedia advertising campaign designed to redefine its image as "the world's local bank".

In television, print and online advertisements to be shown in 81 countries and territories, the campaign is designed to demonstrate the importance of local knowledge and awareness of cultural differences in the markets where HSBC operates. One of the TV commercials, for example, shows a Japanese man reaching out to shake hands with a Briton, who greets him by bowing.

The move comes days after HSBC Holdings announced an 18 per cent drop in net profit for 2001, dragged down by bad loans in Argentina and high credit card defaults in Hong Kong.

Lowe & Partners designed the campaign based on consumer research showing that while customers appreciate the strength of a global organisation, they still value the personal touch. "Ideas came from a huge internal research drive to get our local people and the bank's local people to contribute experiences or ideas which have highlighted either cultural differences or cultural unity,

said Donald Lancaster, Lowe's Hong Kong-based regional account director.

"The idea is to demonstrate that we understand those differences and therefore the bank's customers in various markets. It's a fairly unique platform because it's derived from the bank's heritage and history."

Lancaster said that while the current series would run for about a year, the campaign itself was open-ended and would underpin all of HSBC's communications efforts. This, he said, made it impossible to put a dollar figure on the campaign, which was broadly aimed at the "mass affluent

consumer banking customer.

The bank says it has 31 million customers worldwide. "The personal banking market is by far the most important for the direction of the communications,

Lancaster said.

Zenith Media is handling media placement. The TVCs are airing on CNN, BBC World and CNBC, while print media include the Financial Times and the South China Morning Post.