The campaign, currently running in 80 countries including the Philippines, seeks to convey the idea that, with local on-the-ground financial experts all over the world, HSBC has a genuine understanding of people, countries and cultures that outsiders would not know or could misunderstand. And because ideas and innovations are shared throughout its network, anyone who banks with HSBC, can benefit.
The new campaign was development based on insights from an international consumer research program. Results showed that people recognize the need for global financial organization, realizing that money markets are interconnected and that events in one part of the world can affect people’s money in another. But they do question the prevailing global model, in which global brands seem to assume that everyone wants the same things delivered in the same way, everywhere. Results show that people want to feel that there are local organizations who know and understand them.
The launched TV commercial does this by showing behavior, which may be normal or appropriate in one culture, but quite the opposite in another. For example, it cites that in the US, some management consultants prefer having meetings standing up – which is quite different from how the Japanese would prefer to talk business. It presents other examples from various countries and ends with a shot of a Japanese and European concluding a deal. The European bows as the Japanese puts out his hand. The Japanese then bows while the European offers his hand. They smile at the mismatch and finally shake hands.
The commercial carries a distinct soundtrack and ends with: "Never underestimate the value of local knowledge. HSBC. The world’s local bank."
Another amusing ad uses the example of a tradition, viewers and around the world can relate to – weddings. It starts off with an insight: "People do things in different ways." It cites the Chinese tradition of the groom’s family paying for weddings and shows a Chinese father shaking his head in resignation as he sees his three young boys take notice of three young girls. It shows as well how the opposite happens in the West, where it is customary for the bride’s family to foot the bill. A French dad is reading to his youngest daughter as his three elder daughters take turns planting a kiss on his cheek on their way to a night out. As his daughters including the youngest say, "Bon Soir, Papa", his face mirrors the Chinese father’s expression.
The ad ends with: "Sons, daughters, they’re an expensive business. So it helps to know a bank that will help you plan your finances, giving you personal advice on loans and investments. HSBC. The world’s Local Bank."
A worldwide network effort by Lowe & Partners Worldwide, the campaign strategy was developed by a team in the UK and US. Creative work was developed in London, New York and Singapore.
"This new campaign makes a clear and powerful statement about what HSBC stands for. We believe that the world is a rich and diverse place, in which cultures and peoples should be treated with respect, and from which we can learn. We have built our business for 165 years with local, on-the-ground, financial expertise and we are part of the culture all over the world. We believe that as the world’s local bank, we are in the best position to harness genuinely local, on-the-ground expertise from all over the world to bring our customers better financial solutions.", said Paul Lawrence, chief executive officer of HSBC in the Philippines.
Lowe’s Adrian Holmes, Worldwide Creative director said: "Together with HSBC, I believe we have arrived at a campaign that is unusually thought-provoking and which manages to avoid the blandness that so often typifies this category."