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Why HSBC needed to change their Brand Marketing Strategy
 
In 2018, faced with a downturn in their brand perception and identity, HSBC had to reinvent their brand marketing strategy. Two years ago, the bank was wrestling with challenges including branch closures, which resulted in them having to change the slogan ‘The World’s Local Bank’. After experiencing a 25% decline in brand value; it was obvious that a revamp to the brand was needed.
 
Reinventing the brand
 
In order to deal with the issues HSBC was facing, they had to reinvent the brand. The solution to this was to find a new purpose as well as create a cohesive visual brand identity. HSBC could no longer claim to be the local bank of the world, but instead could reiterate the brand’s commitment to an open and connected world.
 
Together We Thrive

HSBC worked with advertising and creative agency Saatchi and Saatchi to develop a new slogan: ‘Together we thrive’. This campaign allowed local marketers across the globe to have the freedom to tell individual stories which created a cohesive brand message.
HSBC also used the power of its hexagon logo to create a connected customer journey whilst ensuring they had a global identity to provide consistency. This hexagon logo can be seen across all touchpoints including their websites, social media, the branches, brochures, out of home advertising, TV, and also mobile app loading screens.
 
Next phase of global brand refresh

The following year, HSBC also developed other strategies to help further advance the face of their brand strategy. They created an audio-visual mnemonic and sonic identity to produce the ‘sound of prosperity’. This sound can be heard whenever people interact with HSBC. This sound is a bespoke musical piece composed of seven different edits created to be relevant to the 66 markets in which HSBC operates in.
 
This ‘sound identity’ was the next phase of its global brand refresh and it aimed to grab consumers attention who are increasingly busy and easily distracted. The musical piece was created by electronic music producer Jean-Michel Jarre. The sound would capture the idea of ‘thriving’. This new sound would be heard across HSBC for instance when customers ring the bank's contact centres and are ‘call waiting’. The sound was also broadcast in its apps as well as TV adverts.
 
Andrea Newman, Global Head of Brand at HSBC says “the brand refresh is so far going very well and has successfully pulled together everything the brand stands for’’.

Maintaining a fresh and relevant brand image

It’s important to remember that consumers are at the heart of every marketing strategy. It is so important to maintain a fresh, positive and relevant brand image in order to consistently reach your target market and not alienate your customer base. You need to constantly be aware of the current market and what is happening across the globe.

Want to learn more about Brand Marketing?

Join Forward Leading at one of our upcoming 2020 summits in Singapore, Jakarta or Hong Kong. We have regular speakers from HSBC as well as other global organisations. 

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