DBS Card: Loyalty is not sufficient enough

In the super competitive and highly crowded consumer market here in Hong Kong, where the noise level is so high and customers' attention span is so low, simply raising your voice to be heard is not enough, says Hutchison DBS Card Limited's Bernard Chan.

Chan, who will deliver his view on loyalty in the Hong Kong context at this month's Customer Loyalty Hong Kong 2013 conference, believes just talking for the sake of talking  doesn't mean you can trigger a reaction from customers.

"Loyalty seems to be necessary but not sufficient enough, we need engagement and quality interactions to establish the kind of bonding as we have with our friends," Chan says.

"We can then gain the meaningful connectivity and a reasonable ROI from our marketing investment."

He says proliferation of internet, social media and mobile means marketers can outreach to customers in the digital space much easier than ever before, but warns it also means the same group of customers is also exposed to all the chatter in the connected world. "The golden rule of “garbage in and garbage out” still applies here in the digital space too, so without compelling proposition, without all the properly done marketing ABC, you still can't engage your customers," Chan says.

As the head of Hutchison DBS Card Limited, Bernard Chan has diverse experience and a strong track record in consumer marketing, product development and business management.

With over 15 years experience in IT/telecom where he has witnessed and participated in the transformation of Hong Kong, Chan has extensive experience in partnership development in both B2B and B2C which gave him a deep appreciation of engagement - with investors, trade partners and consumers.

Chan joined DBS Bank in 2007 and is currently head of the joint venture between Hutchison Whampoa and DBS HK, overseeing one of the largest credit card portfolios in Hong Kong, the Compass Visa.

As a keynote speaker at the Customer Loyalty Hong Kong conference, Chan tells Marketing why he thinks the area of loyalty remains to be an important asset to consumer banking business.

Chan will address these and more issues at Customer Loyalty Hong Kong, which takes place on Tuesday 29 October and Wednesday 30 October at The Mira hotel in Tsim Sha Tsui.

For more information about the event, including additional speakers, visit the Customer Loyalty Hong Kong 2013 website.