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Haymans Fung, Global Head of Marketing for Wealth and Retail Banking at Standard Chartered Bank, discusses the evolving consumer preferences in wealth and retail banking across diverse markets. With an increasing international mobility of affluent clients, the bank is tailoring its marketing efforts to reach clients at various touchpoints, using a mix of out-of-home, print, digital, film, and content partnerships across seven key markets.
Hyper-personalization is crucial in wealth management, and the bank is achieving it by using client insights to create personalized campaigns that cater to different client attributes and life stages. The “Now’s Your Time for Wealth” campaign is a global effort that highlights the bank’s capabilities and differentiators, such as its global wealth network and expertise in wealth solutions.
The bank has developed marketing strategies to cater to diverse audiences in markets like Mainland China, India, and the UAE. For instance, the creatives used in the campaign feature different ethnicities and languages to appeal to a wide range of affluent clients and reflect the bank’s inclusive stance.
Haymans Fung highlights the consistent consumer trends across Asia and the Middle East, such as increased spending on digital platforms, which allows the bank to tap into data to better understand client behaviors, preferences, and needs. With marketing budgets becoming more constrained, the bank works closely with its media agency to ensure impactful campaigns that achieve positive results.
The “Now’s Your Time for Wealth” campaign emphasizes the importance of taking action early to achieve financial goals, which resonates with the evolving aspirations of affluent clients, particularly in India. The campaign targets specific investor profiles, such as Global Indians and Global Chinese, and is personalized to reach affluent Indian clients both in and outside of India.
Overall, Standard Chartered Bank’s marketing strategies are designed to cater to the diverse needs of affluent clients across different markets, using a mix of data analysis, creativity, and technology to create impactful campaigns that drive meaningful outcomes.