On the back of delivering our Advanced Marketing Programme for Maybank we were invited to deliver a talk to Maybank’s executive and senior management team in Kuala Lumpur, Malaysia. The talk focused on how to build emotionally charged brand experiences in the banking sector.
Commenting on the talk, Wavelength’s Darren Coleman notes:
“There is a tendency for banks to compete on functional product features such as interest rates and number of ATMs. This is problematic because they do not provide sustainable or meaningful points of difference. For argument’s sake, let’s say your interest rates did attract lots of customers, your competitors would soon copy you so that point of difference has gone. By focusing on functional product features banks are commoditising their offer and so exposing themselves to price-based competition.”
“Recent developments in neuroscience have confirmed what many brand marketers intuitively knew concerning human’s decision-making processes primarily being emotionally driven. In parallel, experiences play to what human beings value whilst providing an infinite number of opportunities for differentiation. The result is a potent cocktail that feeds into subsequent brand strategy.”
“In theory, it’s easy to talk about crafting emotionally charged brand experiences but delivering them is another matter altogether. Many brands tend to overpromise and under deliver, which is a fatal mistake. During the session we explored some of the key principles that underpin brand experience creation and delivery, so should prevent this from happening at Maybank.”
Enjoying a Hari Raya lunch after deliverig the technical talk with Abdul Farid Alias (Maybank Group President & CEO), Nora Abd Manaf (Group Chief Human Capital Officer) a,Mornifairos Othman (Executive Vice President, Head, Group Organisational Learning, Group Human Capital, Maybank) and other member of the Executive Team. Nora (Head of HR) actually made one of the currys – brilliant!