MOHAMED ADAM WEE ABDULLAH
GROUP CHIEF MARKETING OFFICER CIMB GROUP
HOW is the company coping in the curalso rent economic climate without compromising its brand presence?
Customer Experience (CX) is an area we have focused on since 2016. It will continue to be part of our next mid-term growth strategy in tandem with strategic sustainable investments that embrace the same “Forward” values of the CIMB brand.
In a challenging operating environment, we have applied more creativity to promote our brand presence beyond traditional platforms.
More recently, we launched CIMB F.I.R.S.T, a tool to help customers of all segments identify their financial needs, and InstaApproval for Mortgage and Car Loan, which delivers approval in one minute. As a result, our first half performance for the year has been better than expected.
Should brands be packaged differently, not only demographically but emotionally?
A brand should be packaged based on how it wants to position itself to its target audience and customers. It must stand for something that is consistent across all customer segments and resonate emotionally to ensure brand connection.
The CIMB brand represents a promise to provide financial solutions and advice to customers to help them achieve their financial goals. This universal positioning is relevant to all customer segments.
We express this through our versatile tagline “Forward”, which is used with other words to be contextually relevant. For example, “Forward Your Dreams” would be used for communications to newlyweds buying their first home or “Forward Your Business” for a budding entrepreneur starting his first venture.
What is the most significant aspect of creating powerful, effective branding? With a powerful brand, we have customers’ trust and can grow the business more sustainably. It is also more likely to register with customers and drive choice. Effective branding generates a consistent stream of demand that can be channelled to various fulfilment points of the business.
In an increasingly transparent world, how can brands strengthen their brand equity?
It is important for the brand to deliver on its claimed attributes and communicate its product clearly so that customers know what they are in for.
What makes a brand memorable given the short attention span and all sorts of content screaming at customers?
A brand needs to have a clear proposition that resonates well with customers’ expectations. It must establish itself in customers’ hearts and minds. Regardless of the noise in the marketplace, customers will always default to brands they trust.