The value of a point of view

IPA Effectiveness Awards Case Study 2024

This case is about the value of having a strong brand point of view. After a change in business strategy led HSBC to retire its long-running 'world's favourite bank' idea, it experienced lower brand rankings and less efficient communications. A fresh approach targeted new audiences with bold campaigns on globalism, homelessness, and domestic abuse, a more prominent use of the red hex logo, and a TV and outdoor-led media mix. Despite lower than category average ad spend, HSBC increased brand power and consideration. Econometrics estimates communications generated £380m of incremental profit from 2019 to 2023, with brand marketing driving the majority of new sales.

Click to purchase this case study >

Client Statement

Sarah Mayall, Head of Brand Marketing, HSBC

We all know the importance of standing out in a congested market, but it can be difficult to achieve. It takes time, much stakeholder management, and a little courage. Committing to a bold change in strategy, refocusing communications to align with our values and holding our nerve enabled us to achieve so much more, with so much less.

Using our communications to express our brand values in a timely way, successfully made HSBC’s most iconic attribute – its international heritage and expertise – meaningful and relevant to a UK audience. This gave us the conviction to take the first bold creative leap with ‘We are not an island’, and the reaction gave us the determination to keep going.

Talking about our point of view though wasn’t enough; proof was needed. Using our brand as a platform to support some of the most vulnerable in society, we helped raise awareness of issues such as the vicious circle of homelessness and the trap of economic abuse, but also change perceptions and use our capabilities to get real support to those that needed it.

Despite being outspent by our competition, our approach earned attention. We were talked about by everyone from John Boyega to Scary Spice, amplifying the impact of our investment and helping us punch above our weight, trending on the BBC News, and featuring on Radio 4’s Thought of the Day. Campaign after campaign we were consistent, building and nurturing our distinctive assets including Richard Ayoade and the Red Hex, making communications that are instantly recognisable.

Our approach has delivered impressive results for both the brand and business, and importantly, it has driven a great sense of pride amongst our employees and with our customers, setting the bank up for sustained future success with firm foundations from which to build.