2025 Marketing Predictions from HSBC Hong Kong’s Cheuk Shum
- Reflecting on 2024, Shum calls it a landmark year for HSBC’s marketing team. His team executed a series of groundbreaking campaigns that pushed the boundaries of traditional banking marketing.
- Shum describes the coming year as a “transformative” one where HSBC will continue to evolve and reinvent its marketing approach.
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Kevin Huang, chief operating officer, SCMP and Cheuk Shum, head of marketing, Wealth and Personal Banking, HSBC Hong Kong
As the banking industry experiences significant transformation driven by rapidly evolving digital innovations, HSBC Hong Kong remains at the forefront of this evolution, showing no signs of slowing down.
According to Cheuk Shum, head of marketing, Wealth and Personal Banking at HSBC Hong Kong, the financial giant is constantly rethinking its approach to marketing and customer engagement. Reflecting on 2024, Shum calls it a landmark year for HSBC’s marketing team.
Reinventing the Banking Experience
Under his leadership, his team executed a series of groundbreaking campaigns that pushed the boundaries of traditional banking marketing. From partnering with esports champions to launching innovative credit card products, the bank demonstrated a willingness to experiment and take calculated risks.
“It’s been an amazing year for HSBC and the team,” Shum says. “We had a number of market-first campaigns for Hong Kong that really kept us on our toes.” These included the esports team T1, the debut of a private banking credit card at the prestigious new Henderson venue and the Global Investment Summit, just to name a few.
Shum attributes this flurry of activity to HSBC’s desire to stay ahead of the curve and provide customers with fresh, memorable experiences. “Hong Kong people love going to new places,” he explains. “So, we’re always trying to find that sense of freshness for our customers.”
Reaching the Digital Natives
On that note, Shum recognises that consumer behaviours have evolved, so it is important to stay connected to the young, tech-savvy demographic. In view of this, the bank has been exploring strategic partnerships to expand its reach within this crucial market segment.
“We’re looking at opportunities to collaborate with emerging platforms and venues that resonate with a younger audience,” he says. “This could involve working with influential esports teams, partnering with social media creators, or even venturing into the metaverse and Web3 space.”
By aligning with innovative digital-first brands and leveraging cutting-edge technologies, HSBC aims to position itself as a forward-thinking financial institution that understands the needs and preferences of the next generation of customers.
Driving Revenue and Market Share
Looking ahead to 2025, Shum described the coming year as a “transformative” one where HSBC will continue to evolve and reinvent its marketing approach. Beyond enhancing brand awareness and customer engagement, HSBC’s marketing strategy is focused on driving tangible business results.
To this end, Shum emphasises the importance of developing co-branded products and services that cater to the evolving demands of the market.
“It’s not just about seeing an ad or a video. We want to create something compelling to capture the attention of our target customers and ultimately drive revenue growth and market share expansion,” he says.
By fostering strategic partnerships with local startups, tech companies, and lifestyle brands, HSBC hopes to develop innovative financial solutions to set it apart from the competition and solidify its position as a trusted financial services provider.
