The HSBC Advance campaign for the so-called relationship banking tool, moves too fast to capture the joys of life’s progress

HSBC has launched ‘HSBC Advance’, the so-called relationship banking tool which targets the urban, young, loaded consumers. ‘Who could you be tomorrow?’ is the punch line. It apparently tries to appeal to the desperation of the new young to surge forward in life. And HSBC Advance promises to be the bank that looks after that booming dream of youngsters.

I watched two commercials on air that promote this idea. In one, a young man transforms from being single, to getting married, to becoming a daddy. And this megamorphosis is rendered in swift transitions (to bring out the ‘can’t wait’ spirit of today’s gen). The voice over reassures: “When your whole world changes, HSBC Advance can help your financial plans change too.” In another one, the same thing happens. Here, a young suit goes from a lunch break to a career break. And of course, the promise that HSBC is right behind you to support your various breaks.

I know this is a part of HSBC’s global campaign, but I have some serious issues with this work. On the first level, the strategic thought behind the communication: Relationship banking is the new buzz not just in the banking sector but in most financial services ads, including insurance and broking. It’s such an abused concept, it now carries very little interest and credibility. In other words, it is not really a sound strategy to adopt any more. Two, even if the HSBC guys couldn’t think of another route, the creative had to be unique and earth-shattering if the concept had to work. Sadly, the campaign falls flat in this regard as well. While the rapid life transition denotes speed, the whole story moves so fast, there’s zero space left to capture the joys and emotions associated with life’s progress. This treatment looks more like a lab experiment rather than a life situation. In short, the gimmicky stuff totally kills whatever possibility there was of making the ad breathe and strike a chord.

Finally, here’s a warning for all financial services companies, and particularly for HSBC, who, I unfortunately bank with. Please get your product sorted out before you make ‘relationship’ promises to consumers. That’s the fundamental principle of all marketing. Nothing kills a bad product faster than advertising. Are your staffers trained and skilled to deal with your fancy promises? Are their objectives in sync with the communication objectives of your organisation? I have always had the worst experiences with HSBC across their branches and cities. The staff is often demotivated, disorganised, disinterested and disdainful.

I don’t know who I can be tomorrow. But right now, I am furious. —Anil Thakraney