Ping An OneConnect Bank (Hong Kong) Limited - PAOB Business Instalment Loan Campaign
Company Name: Ping An OneConnect Bank (Hong Kong) Limited
Project Name: PAOB Business Instalment Loan Campaign
Project Summary
As the first virtual bank specializes in SME Banking Services, our campaign goal is to:
- drive top-of-mind awareness of PAOB to SME owners
- promote PAOB’s latest Cash Rewards program to incentivise SME owners to apply for business loans
- create a character that embodies PAOB’s unique value proposition
Background
These have been turbulent times for businesses worldwide. Since the COVID-19 outbreak, many Hong Kong retailers have desperately searched for ways to transform their business models and adapt to the uncertain economic landscape. While some merchants have successfully seized the means to remain solvent, others were swept away by financial constraints. The market outlook is grim.
However, several key challenges must be addressed to continue securing a foothold in this highly competitive market:
- 7 other virtual banks launched simultaneously in 2020, some of which possess strong retail banking backgrounds and brand awareness in HK.
- Traditional banks are pivoting to the virtual banking market space in response to public concerns for personal safety at brick-and-mortar banks and compliance towards governmental countermeasures for COVID-19.
- New players entering the SME loan market as demand for both banking and finance companies surged.
Objective
In this battlefield for the hearts and minds of Hong Kong customers, we desired to lift the spirits of SME owners, whose who have been underserved by traditional banks for a long time. We eagered to forge a deeper relationship with potential and existing SME owners through humour and service offerings to help them through these tough times. We continue to provide them with the best of what the digital transformation has to offer, streamlining the banking process for them as HK’s 1st virtual bank to service the SME market. While at the same time, continue to differentiate ourselves from other competitors to build top-of-mind awareness.
Execution
Mr. Measures – “度叔”
We conceptualised a humorous character, “Mr. Measures” or “度叔”,
for our awareness building promotional video. The name is a play on words of
“度縮”, which means cutting costs. As cutting costs to drive profit margins is the life of every business owner, it’s a fun take on an otherwise tedious part of business management.
Mr. Measures is a meticulous, suit-wearing, stern-faced man who shoots
a retractable tape measure from his wrists (like spiderman). He appears alongside another character embodying SME owners, shooting his tape at scenarios where the SME owner is frantically calculating the costs of, such as moving offices, cash flow, employee pay raises, and paying suppliers.
This was designed to build rapport with SME owners, showing our internalised understanding of their woes.
Mr. Measure then offers professional services and advice at the behest of PAOB to solve the SME owner’s problems. From image, music, and tone,
it was a light-hearted, professional approach to lift the spirits of struggling SME owners everywhere while promoting the unique SME-centric
offering that sets us apart from competitors.
So, have no fear, PAOB’s Mr. Measures is here!
Result
The campaign execution managed to create top of mind awareness for PAOB, with results that far surpass the previous soft launch campaign in all aspects – awareness, consideration, and business metrics alike:
- 74% reach in traditional TV with over 15x frequency
- 2.26+ million views from digital video
- 54% more traffic than brand launch campaign
- Earned 2M free media exposure
- Acquired >30% record high market share for SFGS 90 “90% Guarantee Products under the SME Financing Guarantee Scheme”. (PAOB beat all the other virtual banks in the SME market in Hong Kong)
It’s evident that PAOB and Mr. Measures – “度叔” provided SME owners with some comedic relief amidst these turbulent times.
