JETCO (Joint Electronic Teller Services Limited), established in 1982 by a bank consortium, operates one of the largest ATM networks in Hong Kong and Macau, with more than 3,000 ATMs, in Hong Kong, Macau, and over 20 cities across Mainland China. The ATM market in Hong Kong can be generally describes as an oligopolistic one, and the other major competitor network is operated by HSBC.

It was not long ago that people perceived JETCO as an old and traditional ATM brand in Hong Kong. Indeed, the logo and style of the ATMs look like they belong to the 1980s or 1990s. Though many believed that JETCO was a credible business, many associates it with China, which is not an entirely positive sentiment among some people of Hong Kong. Some have even erroneously thought the brand came from the Mainland China. Facing intense competition from HSBC, JETCO was in need of rebranding initiatives to gain more market awareness and acceptance.

Given the nature of the industry, the path of rebranding is paved with challenges. As it belongs to the financial industry, which also affects the public, the ATM industry is under oversight from regulatory bodies. Also, unlike some consumer-good brands, it is not easy for ATM brands to be fresh, young, and credible at the same time.

In the early 2010s, JETCO decided to tackle these challenges head-on. JETCO had undergone substantial rebranding efforts to strengthen JETCOs brand image and positioning. This evidently involved a revamp of the corporate identity, the most visible element being the logo, which was radically designed from Chinese text-dominant to English text-dominant; JETCO was set in large font with small Chinese text. The font was also redesigned such that it gives off a sense of freshness and even youth. Integration and consistency are key to revamping corporate identity. The ATM outlets were also redesigned as part of the rebranding effort, including the renewal of light boxes. It was important to turn from traditional, old image to something more innovative, professional, and lively.

JETCO had also made substantial efforts in advertising campaigns, with the key emphasis on its wide network (as compared to HSBCs network). There has been both online and offline promotion, including advertisements in Hong Kongs Mass Transit Railway, the radio, buses, as well as on the internet. The key objective is to strengthen its brand awareness and make it more of mainstream brand across all age segments.

In order to build stronger brand trials and affiliation, especially at the start of young peoples careers, JETCO spent considerable efforts in targeting university students and young working adults, including sponsoring some case competitions in universities. This is critical and essential, as they are the new blood of society and can become loyal, lifelong customers.

Questions:

If you were part of the senior management of JETCO, what would you suggest introducing in JETCO to maintain its market competitiveness?