How StanChart inspires consumers to maximise wealth right here, right now

Standard Chartered is inspiring consumers to maximise their wealth with its latest global campaign, “Now’s your time for wealth”. Targeting the affluent segment, the campaign conveys a key message: the cost of waiting could mean falling short of one’s wealth ambitions. 

In an interview with MARKETING-INTERACTIVE, Haymans Fung (pictured), global head, marketing for wealth and retail banking, Standard Chartered, said the campaign seeks to break away from the norms of speaking esoterically to the meaning of wealth planning. Instead, it adopts a refreshingly human and direct tone that aligns with the clients’ actual needs and ambitions.

This is reflected upon the findings from previous StanChart consumer studies that its affluent clients' pain point isn't a lack of awareness about the opportunities available. Instead, it revolves around how they can fully capture these opportunities globally and across various investment asset classes.

“And what we're telling them is that they don’t need to worry or struggle with not being able to capture everything, because we are here to help them capture everything and truly expand their wealth conditions,” Fung said.

Done in collaboration with Publicis Groupe Hong Kong and Singapore, the campaign has launched across seven key markets, including Singapore, Hong Kong, mainland China, Korea, Taiwan, UAE and India. The first phase includes out-of-home (OOH) advertising in airports and urban areas, along with print ads.

The second phase, set for March, will include a global TV commercial and content partnerships with international, regional, and local media. It will feature interviews titled “Global wealth wisdom” with various key opinion leaders (KOLs) discussing insights on wealth wisdom and wealth preservation.

Connecting with affluent customers through unique positioning

To strengthen Standard Chartered’s association with wealth and convey that the bank’s global network, expertise and wealth investment solutions empower affluent customers, the business strategy focuses on finding a unique positioning, according to Fung. 

The campaign calls out the bank’s differentiators and capabilities in effectively serving the affluent segment worldwide. These include its global network, client continuum, and expertise in wealth solutions, that help its targeted client segments, including global Chinese, global Indian, entrepreneurs, and sophisticated investors, to grow, protect, and pass on their wealth.

"While there are other big global banks, we hold a unique position: we are both progressive and substantial," Fung said. 

She added: 

We're big, but not so big that we lack personal service, and we remain very agile. This means we can empower our clients to take action right here, right now.

Commitment to affluent clients through experience

To reinforce the bank’s position as an international wealth manager, the campaign focuses on establishing consistent messaging, followed by communicating offers and selling products, according to Fung. “We want to maintain the same emotional, high-level message and creative approach, but when it comes to actually selling products and offers, they have to reflect the same level of class."

Meanwhile, providing experiences for affluent customers is part of StanChart’s everyday job, said Fung. For example, the bank recently launched “Global Market Outlook”, where its chief investment officer (CIO) teams travel around markets such as Hong Kong, Singapore, Korea and Taiwan to offer face-to-face insights to affluent clients. 

"In all these events, we carry the same theme: 'Now's the time for wealth.' Why is now the time for wealth? To capture the right time and do the right thing, we need these insights and experts explaining what’s happening, risks and what's the opportunities,” Fung said. 

Relationship managers are also present at the event for customers with follow-up questions. This illustrates the bank's end-to-end approach, combining its wealth expertise with a wealth partner perspective in advertising, according to Fung. "While you see fancy visuals and language, we also have experts on the ground who provide personalised advice and insights to help customers. That's how we carry this across the spectrum."

Having ambitious business goals 

The campaign also acts as an investment that understores the bank's commitment to grow its affluent business, targeting US$200 billion in affluent net new money and double-digit wealth solutions income by 2029. Meanwhile, the marketing team will fully support and help the business achieve these targets, according to Fung.

Aside from ensuring that the bank has clear business objectives through a strong, business-driven marketing approach, it is also doubling its investment in marketing to reach its affluent segments, she said. 

We always see marketing as an investment, and the marketing at work that we do, such as campaigns, are assets to the company to help our business to deliver business results.

With the four targeted client segments, StanChart is focusing on local country activation and exclusive experiences for affluent clients, such as leveraging the Liverpool Football Club (LFC) partnership to offer exclusive money can’t buy opportunities. Furthermore, the strategy also emphasises digital marketing, aiming for "prime engagement" to optimise the entire funnel—from top to bottom—and align messaging for affluent clients, Fung said.

Given the competitive landscape in the affluent and wealth sectors, StanChart needs to maintain a consistent market presence to ensure customers remember the brand and keep it top of mind, Fung said. "At the same time, due to our full funnel optimisation and investment, we can effectively track and measure our efforts to ensure a strong return on investment for our marketing expenditures, directly linking them to our business outcomes."

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