BOCHK launches influencer contest to educate young adults on wealth management

Bank of China Hong Kong (BOCHK) has launched an influencer contest "#YouTalk Finance" to promote investment and wealth management among young adults, as part of its commitment to expanding its young consumer base.

Understanding that young adults love to share their daily lives on social media and interact with their friends, BOCHK believes that combining short video creation, creativity and wealth management knowledge can enable them to share insights with their friends.

To strengthen young adults’ knowledge in stock trading and engage them, BOCHK has invited stock commentator Agnes Wu and influencer 80hhslc (紅磡索螺絲) to become the judges of the “#YouTalk Finance” contest. 

BOCHK told MARKETING-INTERACTIVE that the influencer contest targets both the contestants and audiences of young generation or specifically young adults from 18 to 35. The bank hopes to engage the junior working class and students, as well as new investors, in this innovative campaign with celebrities that the target audience is familiar with. 

In terms of promotion, BOCHK said the campaign leverages several social media platforms that youngsters love to engage them, such as launching campaign video on YouTube, collaboration with KOLs and sending press releases to media outlets, aims to enhance the publicity of the campaign. Renci Yeung posted on her social media platform and seeked ideas from netizens for investment, which aims to encourage the target audience to conduct financial planning and wealth management, telling them the benefits of using mobile banking. 

Furthermore, BOCHK recently commissioned actress Renci Yeung to be the ambassador of “Banking TrendyToo”, a brand launched by BOCHK last year that targets young adults, helping them start managing their wealth. 

In the campaign video, Renci collaborated with singer Aska Cheung, who is also an ambassador of “Banking TrendyToo”, Agnes Wu, and 80hhslc to invite young adults to participate in the contest. She acts as a sports influencer in the video, practising yoga to showcase her energy before telling the contest details. Apart from the video, Renci also posted on her social media platform, seeking ideas from netizens for investment.

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Tania Wan, head of customer segment management, retail banking and wealth management, said, “Since the launch of ‘Banking TrendyToo’, we have witnessed a significant increase in the number of young customers. To meet young adults’ wealth management needs and spending habits, BOCHK continuously optimise the digital banking experience, launching investment products that require a small amount of fund.”

“At the same time, BOCHK leverages social media platforms to offer knowledge of discounts and basic investment products, integrating wealth management into young adults’ lifestyles. The ‘#YouTalk Finance’ contest is also part of the Investor and Financial Education Council’s Hong Kong Money Month 2023. We hope to leverage the contest to encourage young customers to share wealth management information via short videos,” Wan added.

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