“As an underdog brand in Singapore, they [Maybank] need to outsmart, rather than outspend the competition,” reads the briefing document.
“But they face some legacy and cultural barriers internally as few people in the team had worked with an agency on a strategic level.”
Saatchi Lab handles the account on an adhoc basis, but the Malaysian bank has not retained a media agency.
“The ideal agency needs to have the tenacity and patience to help educate Maybank, to help them see the forest from the trees, yet understands the uncertain and volatile industry that they play in,” reads the document.
Digital and CRM will be a deciding factor: “Maybank recognises this to be increasingly important, and in the ideal world, would prefer the same agency to be able to deliver digital services and provide true integration.”
Agencies will be briefed on 29 July and a presentation made on 14 August. The review is being handled by R3.
Y&R fortunes up despite setbacks in the region
SINGAPORE - Maybank is reviewing its advertising activity in Singapore as the company searches for a long-term strategic partner to improve its lowly market position in the city-state.
