OCBC Bank (M) Bhd has launched a unique marketing campaign featuring generational differences alongside the introduction of their latest Premier Banking initiative, Premier Life Goals. Premier Life Goals offers customers a multi-pronged approach to future planning featuring retirement, wealth transfer and child education.
The campaign highlights a touching video which tells the tale of the disputes between a father and his son as they both think of the latter’s future and what might really aid them in meeting each one’s objectives.
Working through its advertising agency, Leo Burnett, OCBC Bank came up with a compelling video entitled “Don’t be like Papa”, which chronicles the tensions between father and son.
According to Lim Wyson, head of consumer financial services, the idea was to approach the campaign far differently from regular bank offerings as Premier Life Goals goes beyond embracing individual products and services.
“It is really a platform to grow clients’ wealth sustainably in relation to their aspirations. Premier Life Goals, covers wealth transfer, retirement and children’s education – and how the bank’s products and services can help a person realise their life goals. But, in truth, it is more than a financial decision.
“Our research shows that many of our customers list their children’s future as one of their top concerns. And this relates specifically to the topic of higher education and career choices. This video fits perfectly into our core objective.
We want our customers to realise that these goals of life can be met meaningfully,” he says in a statement.
Speaking on the essence of the concept of the campaign video, Leo Burnett’s group creative director En Iska Hashim says the agency worked relentlessly with creative outfit Think Thank in order to nail it by hitting the raw nerve of the tensions involved in family ties.
“We wanted to bring to the fore the reality that hard decisions need to be made among family members and this is portrayed in the tensions between a son and his father when trying to reaching a firm decision about the son’s future,” he says.
Lim hopes the video can help parents see the bigger picture of their children’s future.
“The age of digitisation has triggered a paradigm shift in jobs. Job roles that parents are familiar with are becoming obsolete and may no longer exist in the future. And new jobs that are unheard of are becoming the norm.
“We recognise the struggles of parents during these bewildering times. And we aim to work together with them to navigate around this decision through deeper insights about their motivations and needs,” he explains.
On Premier Life Goals itself, he says the conversation with Premier clients starts from a deeper understanding of their needs. Clients are assisted by their OCBC Premier relationship manager who go through with them a comprehensive financial assessment that ends with a summary of where he or she stands in relation to their children’s education, retirement and wealth transfer goals. The programme then suggests broad customisable financial solutions on how to move forward.
“Once we know where a person stands in relation to his or her goals, our Premier relationship managers are able to walk them through a range of financial solutions to grow their investments in a disciplined manner alongside optimising returns through a diversified portfolio that provides potential capital and/or regular returns.
“There is also an active investing option that provides for short-term products that leverage on market opportunities when there is a surplus for use.
The solutions offered would involve sophisticated products backed by the bank’s wealth advisory team’s services and delivered through the Premier One Team, a dedicated team of specialists,” Lim says.
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912.
It is now the second largest financial services group in South-East Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
The bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China.