Advertiser: HSBC Bank Malaysia Brand: HSBC Credit Cards Creative Agency: JWT Credits: Razlin Johar (Assistant Manager, The Exchange), Bryan Chiang/Cassy Liew (Executive, The Exchange), Yuanne Lau (Director, Client Leadership)
The tax imposition saw many credit cardholders cancelling extra cards, and transferring balances to cards offering long-term benefits. 70% of cardholders subsequently spent less with accumulated balances owing. Amidst intensified bank competition, HSBC needs to entice consumers to continue spending with them while increasing new sign-ups during the fashion season.
Cardholders equate shopping with happiness. They are also loyal readers of lifestyle and fashion newspaper editorials (affinity index 182), and being fashionable boosts their confidence. Yet with basic necessities to prioritize (e.g. groceries), fashion becomes a desired luxury and shopping must be practical, making savings an important appeal. Leveraging StarTwo’s state-of-the-art fashion content and its light hearted style, we transformed cardholders everyday necessity spending into everyday fashion, connecting emotionally to spur positive fashion-shopping sentiments.
This was the first time a financial category is engaging with the industry’s top fashion trendsetters. To come in strong, we capitalized the fashion season period and customized ‘Vogue’ styled fashion spreads, featuring fresh runway collections to fuel sentiments of being fashionable. The fashion spreads integrated lucrative discounts with HSBC that deliver ‘spend and save’ value and everyday affordability, highlighting that cardholders can enjoy desired affordable couture lifestyle without compromising their basic necessity spending.
The campaign singlehandedly surpassed new sign- up targets with an astonishing 200% increase. Cardholder average spends and usage frequency also grew, recording a significant YOY growth of +48% and +27% respectively, and proving the campaign’s immense success to entice cardholders to continue spending with HSBC.