Advertiser: HSBC Bank Malaysia Bhd Brand: HSBC Credit Card Creative Agency: - Credits: Bryan Chiang (Executive, The Exchange), Low Tzu Chuen (Executive, The Exchange), Cassy Liew (Executive, The Exchange), Yuanne Lau (Director, Client Leadership)
The recent credit card RM50 tax impacted consumer spending disposition. 80% of total cards circulation dropped and HSBC]s cardholder base fell drastically. With only RM85,000, we were challenged to create a campaign that battles competitors, ratains cardholders and encourages cardholders to continue spending with HSBC during the festive seasons.
Insights indicate that cardholders are most likely to retain one or two cards which provide the best value and wont compromise the tradition of buying gifts for loved ones duting festive seasons. Leveraging on this, we engaged The Sun’s lighthearted content and developed irresistible tips for gifts, infusing joyful elements that drive ‘positive’ spending behaviour with multiply their rewards whenever they spend.
Centered on the message of festive gifting, we created the festive season’s Top 20 & 10 must-have gifts integrated within fashion and lifestyle content, encouraging readers to buy gifts to usher in 2010 new year. We creatively designed the numbers ‘20’ and ‘10’, engaging readers to relate HSBC’s gift ideas with multiplied rewards. HSBC will multiply ‘20x’ or ‘10x’ reward points for each HSBC’s gift ideas from the ‘20’ and ‘10’ lists.
Within a month, HSBC’s only campaign singlehandedly ratained 98% of cardholders with overwhelming usage of nearly 1 million swipes (highest in 2009), gaining RM7Mn+ in increamental revenue, exceeded target by 17%! Campaign boosted brand consideration by 19%, free social media mentions and highest traffic to HSBC’s website which toppled competitors.