MICHAEL FOONG SEONG YEW

GROUP CHIEF STRATEGY OFFICER & CHIEF EXECUTIVE OFFICER, INTERNATIONAL MAYBANK

How is the company coping in the current economic climate without compromising its brand presence?

Brands can emerge as winners even during a downturn. Of course, a review of brand strategy is definitely required during such times, especially in ensuring one is able to sustain Top of Mind (TOM) brand recall. This also means investing in areas which can give us more in terms of reach, for example digital platforms and pairing it with impactful communications and marketing strategies.

Our efforts are part of our strategic objective to be the Digital Bank of Choice in the region by 2020. Through the many innovative digital products and services we have introduced over the years, particularly in the payments and online banking segments, coupled with the convenience and reliability we offer, we find that the Maybank brand has built closer affinity with our customers in a very cost-effective manner. In fact, our digitalisation efforts are focused on one simple purpose, which is to delight our customers by simplifying their lifestyles.

Should brands be packaged differently, not only demographically but emotionally?

This is one of the first rules in terms of creating a stronger brand presence. But, we must ensure brands are sensitive and understand the market they operate in. Meaning, one size doesn’t fit all. The content needs to be customised for different segments, and timing of delivery is crucial.

what is the most significant aspect of creating powerful, effective branding?

In today’s world, brands must be disruptive in its strategy to trigger profound change and positive perception shifts. The challenge for brands is to be authentic and believable and to remain as close as possible to consumer needs. For instance, we started the Maybank MyStories campaign last year to share untold stories of unsung heroes. The aim was to drive people across all ages to be better, and to encourage people to be a force of good.

In an increasingly transparent world, how can brands strengthen their brand equity? With digital prevailing, we see growth in purpose-driven marketing prompting brands to align with social movement or a particular cause. Such movements seek to improve individuals’ lives, often putting sustainable development at the heart of its brand purpose.

Guided by our mission to “Humanise Financial Services”, we have undertaken various impactful corporate initiatives such as MaybankHeart. MaybankHeart is an online crowd funding platform that provides the general public with information on NGO projects that require funding. To date, Maybank Heart has benefitted 61 beneficiaries and received public donations of over RM1mil.

what makes a brand memorable given the short attention span and all sort of scontent screaming at customers?

Cash may not always be king, but content still is! A powerful content goes a long way in shaping a brand’s perception among consumers. An engaging content which is genuine will definitely speak directly to the audience. In a nutshell, it brings the consumer closer to the brand owing to its authenticity, and the value it holds.