As consumers evolve within a fast-moving commercial environment, marketers must keep pace – while continuing to build trust. That was one of the key messages delivered during a recent round-table event hosted by the South China Morning Post as part of its Remarketing series of discussions.
Successful brands today
A key topic at the event was how the marketing playbook is evolving: successful brands need to foster connections through storytelling, partnerships and creating mutually beneficial partnerships with trusted media brands. Above all, marketers need to be introspective about their brand stories, as consumers today look to brands that are making positive impacts.A key topic at the event was how the marketing playbook is evolving: successful brands need to foster connections through storytelling, partnerships and creating mutually beneficial partnerships with trusted media brands. Above all, marketers need to be introspective about their brand stories, as consumers today look to brands that are making positive impacts.
“So many people are talking about ESG [environmental, social and governance] today – because we all want to do something to prevent what we’ve experienced over the last few years from happening again,” said James Tong, director of public affairs, John Swire & Sons (H.K.) Ltd. “People are extremely interested in purpose; they want to work with you if they have a chance to work for a good purpose.”
Storytelling
All nine senior marketers at the round table were in agreement about one key aspect: it is crucial to create a story that is relevant to your consumers.
“It goes without saying that ESG has become a hot topic, but more importantly, what customers want to know is how they can participate and be part of the change,” Cherry Tsui, head of marketing, Bank of China (Hong Kong) said. “By enriching the Bank’s green finance solutions, we want to be part of the ESG story with our customers.”
And the secret to inclusion is being connected to the relevant communities and making sure your brand is addressing the community stakeholders’ needs, explained Jessica Chong, head of strategic marketing, Henderson Land.
“How can we make them feel relevant to the brand? How do we go out and speak to the audience and create engagement activities to connect with them?” she added.
Engagement activities
To answer this question, those taking part in the round table noted the importance of innovative products and key opinion leaders, while all agreed that in today’s world, experiential marketing and providing firsthand in-person experiences are essential.
“We are seeing a lot more demand for experiential-type marketing. It’s about delivering something quite different and unique that people can share on social media,” said Cheuk Shum, head of marketing for wealth and personal banking, HSBC Hong Kong. “It’s about giving people something they can enjoy with family and friends. People are yearning to go out just to meet people and touch things.”
Shaping and guiding brand stories
But marketers shouldn’t rush out: they need to think carefully, developing strategies for shaping and guiding their brand stories.
“It’s not just about developing the marketing strategy, it’s also about having a seat at the table when forming the customer proposition from the get-go” said Stephanie Ng, global gead of marketing, Wealth and Personal Banking, HSBC.
Trusted media
The diversification of the consumer mindset also means that brands are now returning to traditional media such as print to convey their ESG message, because print has long been and remains a trusted channel. She cites the Post as a good example of a trustworthy partner.
But what do all these changes mean for marketers today?
“It means it’s about purpose-led brands and great marketers building meaningful connections, with advertising plays a role in driving those meaningful connections,” said Stuart Woollford, head of group brand, AIA. “Make sure you can walk the talk – that is really important.”