“I think that this journey has led us to produce some of the best marketing and advertising communications that we’ve produced in quite some time,” was Sam Fletcher’s bold opening declaration.
The head of insight and marketing performance at HSBC UK was speaking at the Festival of Marketing (London, October 2018) where she explained how the journey to which she referred had started at a global level. HSBC as a business had two challenges: brand equity was dropping and customers were more demanding. And these challenges were compounded by a new type of competitor: start-ups and challenger brands that were moving quickly to serve new financial services needs, without the legacy infrastructure that slows companies like HSBC.
“Like many financial services brands, we’d lost the trust of many of customers and the communities that we serve,” Fletcher said. “We’d also seen that consumer’s expectations of modern brands were changing.”