The Excellence Awards in the campaign category are conferred on Citibank (Hong Kong), Ma Belle Jewellery and McDonald's Restaurants (Hong Kong).
Citibank's 'Banks on New Standards to Break Banking Inertia' campaign aims to explore the business growth potential in the 'emerging affluent' (EA) segment in Hong Kong. The EA segment comprises 1.7 million people, each with liquid assets of HK$100,000 to HK$990,000. They make up one-third of the city's banking population, according to Maggie Yung, director of Hong Kong country marketing at Citibank.
People in the EA segment have 'diverse banking needs and typically have multiple accounts', she says. 'Citibank would like to be their main bank by offering them superior banking products and services.'
Citibank conveyed the message about its new standards through multiple strategies. The bank has provided more customer-centric services. It was the first bank to extend closing hours to 7pm, waive deposit and custodian fees for stock accounts, and provide a 24-hour hotline. Citibank used its branches and ATM networks to communicate with customers. 'We understand that Hong Kong people want their banks to be where they work, entertain and shop,' Yung adds. 'Therefore, we have set up branches and ATMs in these key areas. It gives the impression that Citibank is everywhere and is perfectly suited to be their main bank.'
Within three months of the launch, Citibank increased the number of new customers opening payroll accounts by 238 per cent and new retail banking customer acquisitions by 126 per cent. 'We also saw a 93 per cent increase in unaided brand awareness within one year and a 150 per cent growth in brand awareness, compared with the 10 per cent shift in past years,' Yung says.
Ma Belle's 'Free Golden Bangle' campaign attracted customers by offering a loan service for those wanting to buy gold bangles. The campaign was developed to help bridal couples, who purchase wedding jewellery at Ma Belle, and ease the financial burden of purchasing traditional gold bangles, as the price of the precious metal has skyrocketed. The price of a pair of gold bangles weighing 3 taels (4.5 troy ounces) doubled to HK$50,000 over the past two years. In traditional Chinese wedding ceremonies, brides wear gold bangles, symbolising wealth and care from the family.
'Some customers said they had a difficult time putting together an ideal wedding,' says Theodore Ma, a director at Ma Belle. 'Most couples who have bought these bangles just store them in the bank vaults [after their weddings].'