News

MasterCard marketing chief: Brands that deliver wrong ad to wrong person seen as spammers

Screen Shot 2014-10-02 at 11.01.14 AMMasterCard is rolling out a new digital media command system that it says will help it and its bank partners to see whether or not a marketing campaign is working within one hour of launch.

The company is talking to banks across Asia Pacific as it rolls out the data-driven marketing technology that allows offers to be driven “to the right consumer at the right time” and cut down on marketing waste.

The technology, called Priceless Engine, uses more than 20 tech platforms to crunch data, monitor consumer trends and study social media conversations to determine what offers to send, at what time and to which consumers.

MasterCard’s APAC group marketing head Sam Ahmed said the technology will show whether or not a campaign is working within one hour.

“We get immediate responses on what is what is working and what is not. We are publishing where the consumers are, on Facebook, on paid media. I can publish to two million people in a split second, and in an hour I can find out what is working.”

He said traditionally it would take four months to assess whether a campaign has worked and by that time “the campaign has finished”.

MasterCard will be working closely with key partners in the social media space, including Facebook with which it has signed a two-year partnership. These partnerships will give consumers in the region “unprecedented access to the most relevant, timely and quality offers”, Ahmed said.

He said the technology is not about creating “great ads” but driving transactions.

Mastercard“It brings together real-time online consumer trends with social marketing data to refine the e-commerce offers that MasterCard presents to people online, in conjunction with our banking and retail partners,” he said.

Ahmed said in today’s digital marketing world, brands that deliver the wrong ad to the wrong consumer are regarded as spam.

“Consumer expectations are higher than what companies can deliver, there is real gap and you can look old fashioned very quickly if you don’t have the right content at the right time,” he said. “Consumers, especially millennials, are saying ‘you have my data, use it properly’. Brands which don’t do that are seen as spam.

“Priceless Engine allows us to deliver offers and experiences in real time with relevant content to the right consumer. We mine all this data but it’s dead data unless you use it right.

“Our relevancy in this is really important. You don’t share your mortgage update, you don’t share your investment update, so the engagement level the banking partners are looking for from us is around this payment area.”

Ahmed’s comments come just over a fortnight after Philips launched the digital command centre Conversation Engine in Singapore, led by CMO Damien Cummings.

Steve Jones

ADVERTISEMENT

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella Asia newsletter now.

 

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing