Taking advantage of a recovering economy, the campaign leverages the product's positioning as 'The global card with the best value in town' to tackle the city's saturated credit card market.
The campaign -- on the back of increased consumer confidence -- also sees the credit card battle shift from special offers and discounts to brand experience for the first time in three years, according to Simon Shing, business director of Bates Asia Hong Kong.
"The credit card market has evolved in accordance with the recovery of the economy," he said. "The credit card market is very saturated. The different types of special offers from merchants have been flooding the Hong Kong market since 2003 until the end of last year. Now that the economy is getting better, the situation has changed."
Shing noted that consumers were now willing to spend on higher priced and big-ticket items.
"They are looking for enjoyment and to reward their hard work in previous years. It's not just about getting a good deal anymore."
While special offers still make up the foundation of the latest campaign, the creative platform is based on the consumer insight that people, while maintaining a busy work schedule, desire the best things in life.
"Whether it be more value or more unique experiences, consumers' measuring yardstick has changed. It's not about spending less, but having more," added Shing.
The campaign consists of a series of television commercials, and print, radio and outdoor ads, which will be rolled out in phases to support HSBC's various credit card marketing programmes this year.
Launching at press-time, the TV spots include a five-second teaser and a 20-second thematic TVC on HSBC's rewards scheme, presented in a 'sandwich-buy' format. "It was important to kick off this campaign before Chinese New Year," added Shing. "The TV focus will establish the platform. After Chinese New Year, the bank will be doing more programmes like merchant (tie-ins), which we will show consumers phase by phase. The platform and execution will help establish a clear identity and tie the brand closer to consumers' lives this year through a very modern and stylish commercial."
Indulgence plays key role in HSBC's HK sell
HSBC has kicked off its marketing line up for 2006 with the 'Red Hot' advertising campaign, which prods consumers to indulge with the bank's credit card.
