HSBC’s CMO on using Hong Kong as a backdrop to storytelling

From the bronze lion sculptures, Stephen and Stitt, standing guard outside HSBC's main building in Central, to the intricate feng shui influence that shaped the design of the HK$5 billion HSBC headquarters, numerous stories and memories are intertwined with HSBC's presence in Hong Kong.

Hong Kong is, after all, the city where the world's seventh largest bank traces its origins, where it was first established in 1865. This March, it marks its 160th anniversary. To commemorate the milestone anniversary, the bank has launched a year-round campaign under the theme 'HSBC 160 Years of Great Stories', a sizeable part of which includes a series of installations on display at its ground-floor plaza at the HSBC Main Building in Central, featuring special installations that highlight the bank’s history and vision for the future.

The standout installation is the 160th anniversary Rube Goldberg Machine. The interactive display gives a unique glimpse into the evolution of HSBC and the impact of technological advancements on banking over time. Whenever a visitor inserts a one-dollar coin into the machine, it triggers an ATM symbolising HSBC's introduction of ATMs to Hong Kong in the 1980s. This action sets a marble in motion, guiding viewers through a 160-second journey through time.

Campaign sat down with Cheuk Shum, managing director, head of marketing, wealth and personal banking, HSBC Hong Kong, to find out more about the significance of this 160-year anniversary campaign and bringing it to life. Shum also shared insights on how the bank uses its marketing to reach and engage its six million retail customers of all ages and balancing its heritage with the need to innovate.

Over the past 160 years, what do you think HSBC has come to represent as a brand and has the right to feel most proud of?

I think if you look at Hong Kong, we are one of the very few brands that's been around for so long and it actually started right here at this address 160 years ago. So the way we see it, Hong Kong and HSBC are very similar; a homegrown brand that's gone global with big success. So I think a lot of the creative premise has been riding on that philosophy of being a homegrown brand that has grown internationally. We are very much intertwined with the history and progress of Hong Kong. That's how we see the brand.

How did you decide on the theme 'HSBC 160 Years of Great Stories' for the anniversary campaign? Has it been a long time in the works? 

Planning for HSBC's 160th anniversary campaign began early last year, despite initial debates about whether to wait for a more conventional milestone like 200 years. The team decided to go ahead, aiming to inject some positivity and energy. The campaign, themed around storytelling, focused on customers, community partners, and colleagues rather than the bank itself. The goal was to create a narrative that looked both back and forward, avoiding a purely retrospective approach. By leveraging HSBC's rich history, including archival materials like the first ledger book, the team crafted a story platform that was straightforward and engaging. The campaign included visual and video executions that blended nostalgic elements, such as the first ATM machine, with modern innovations like mobile banking, to create a compelling narrative that resonated with audiences.

Was engaging the public through experiential elements a central strategy of the campaign?

Our focus has been on relevance rather than just celebrating our age. We've created experiential elements throughout the year, such as sponsoring the Lunar New Year fireworks and hosting events like the Global Investment Summit and the Rugby Sevens at the Kai Tak Stadium. These events help generate positive experiences and strong memories for the public. By engaging people through social activations, where they can share personal items like piggy banks or bank notes, we've seen a significant response from customers and staff. As people interact with our installations, they often reminisce about past experiences, such as recognising old TV commercials or credit cards, which reinforces the campaign's goal of fostering a sense of connection and shared history.

What inspired the creation of the Rube Goldberg Machine and other interactive installations at the HSBC Main Building?

We wanted our storytelling approach to be innovative, using cool installations that appeal to younger audiences by transforming archival elements into modern, interactive exhibits. For the Rube Goldberg Machine installation specifically, it's fascinating enough that even young people want to see it. By taking archive elements and presenting them in a new, radical way, we reach different customer segments. People have been coming to take Instagram photos, which is exactly what we hoped for—engaging them and making them part of the experience, not just passive observers. Having something Instagram-worthy is now a necessity for campaigns; it's about creating interactive experiences, like events and installations, where people want to participate and share their experiences.

Was this campaign also about celebrating Hong Kong as the city where the bank was established?

In light of a challenging macroeconomic environment and Hong Kong's recovery from the pandemic, the campaign has served as a morale booster, reinforcing the strength and resilience of Hong Kong. HSBC aimed to rally its team, brand, bank, and the city itself by injecting positive energy through various initiatives, including the Chinese New Year fireworks, the opening of Kai Tak Sports Park, and the Global Investment Summit. These events symbolise Hong Kong's resurgence and HSBC's integral role in the city's narrative, demonstrating a commitment to being part of Hong Kong's ongoing success story.

How does HSBC balance its rich heritage with the need to innovate and stay relevant in a changing financial landscape?

HSBC strives to remain humble and respectful in its approach to serving nearly six million retail customers. The core messaging aims to resonate with a broad spectrum of customers, which can be challenging due to diverse and sometimes polarising views. Navigating these complexities is an ongoing effort to ensure that the narrative aligns with the needs of a wide range of customers.

Given the emergence of newer banks, how does HSBC's marketing strategy address the challenge of reaching and engaging younger customers?

HSBC's marketing strategy involves both overarching brand messages and targeted segment platforms to reach diverse demographics. The 'HSBC 160 Years of Great Stories' campaign is designed to appeal to all ages, while specific retail campaigns are tailored to different segments, such as HSBC One for millennials and Gen Z, Premier for the middle class, and Private Banking for affluent customers. To effectively engage younger audiences, HSBC partners with popular events and figures, like the League of Legends World Champion team and Complex Con, leveraging esports and music to connect with millennials and Gen Z. This multi-faceted approach helps ensure that the bank's messaging resonates with its six million customers across various age groups.

It seems a lot of brands are focusing on chasing and engaging Gen Z these days, but with such a diverse customer base, how do you ensure you cater for all and that no one gets overlooked?

We aim to be inclusive and not alienate certain groups, which is a core premise of our platform. Last year, we launched the HSBC WAY campaign, focusing on customer service stories, including using retired staff to serve older customers, as they understand their needs better. We also have a highly regarded mobile banking app for visually impaired customers, which reflects our social responsibility and customer-centric approach. This extra effort helps us resonate with a wide range of customers.

The campaign has already created some viral moments online, can you tell us a bit more about those?

This year, we created a special commemorative version of our Chinese New Year lai see packets, which went viral on social media. It's about creating a buzz, similar to how people share stories about their piggy banks or cheque books, which fit with our HSBC heritage. People have a strong emotional attachment to our bronze lions, and we've told stories differently by using archive tales from the past alongside new ones, like the fireworks and M+ events. The Hongkong Bank Foundation plays a significant role in serving the community, which is important to Hong Kong people. We've also partnered with media agencies to create multidimensional storytelling, not just one-dimensional visuals. The limited edition lai see packets became a collector's item, creating talkability and nostalgia, especially since they featured past designs of the HSBC Main Building.