Mastercard

Mastercard, a global player in the financial services industry, has enjoyed remarkable success supported by long-standing brand recognition and strategic marketing efforts. The company's "priceless" campaign had been a standout, resonating with consumers by celebrating valuable life moments rather than promoting extensive spending. However, significant changes in the consumer landscape presented both opportunities and challenges for the company. The proliferation of smartphones and connected devices transformed the purchasing journey, with a substantial number of users conducting product searches and transactions via mobile platforms. This shift necessitated an adaptation of marketing strategies to effectively engage sophisticated consumers who increasingly valued experiences over products. Additionally, the rise of ad-blocking software and subscription-based, ad-free content channels required creative approaches to reach target audiences.

When Raja Rajamannar became Mastercard's CMO in 2013, he believed that despite the success of the “priceless” campaign, Mastercard had to change to remain relevant in this dynamic environment and effectively leverage new consumer touchpoints. The company needed to transition from traditional storytelling to a strategy that enabled consumers to create their own narratives around the brand. This shift called for the integration of new skills within the marketing department and fostering collaboration across functions to align with evolving consumer desires.