Innovating New Customer Segment Experience
IN PARTNERSHIP WITH HSBC
Industry
Finance & Insurance
Services
Consumer Segmentation & Targeting
Cultural and Behavioural Insights
Innovative Growth Strategies
Research Methodology
Ethnographic Observation & Interview
Online Board & Community
©Brandnographer
Brandnographer helped HSBC discover and understand the private banking needs of the growing number of high net worth individuals in Hong Kong and Singapore.
The Challenge
With the increase in self-made millionaires around the world, HSBC wanted to leverage this growing market by identifying their personal banking needs. However, as these individuals had a distinct set of values, different to HSBC’s average private client, it was vital for HSBC to understand and identify their personal needs. They needed to understand their clients personally; their ethics, values, needs and aspirations, in order to create regional and local marketing strategies.
Our Solution
To build effective strategies for the diverse market of affluent individuals, Brandnographer employed user-strategy, focusing on understanding monumental moments and values that affected these individuals’ lives. This was done in 18 in-depth interviews, followed by 5-day tasks surrounding their everyday life in online communities, and wrapped up with another 18 in-depth retrospective interviews.
Results
Brandnographer was able to make sense of the monumental moments that shaped their values. This in turn allowed the team to develop a set of relatable, tangible and distinctive personas for HSBC.
Impacts
24
billion USD
is the amount by which the deposit balance of HSBC Wealth and Personal Banking (WPB), including Jade, has grown in 2021