On the sidelines of the Cannes Lions Festival of Creativity, Brand Equity met with one of the key entrepreneurs present at the arena’s largest ad and advertising industry accumulating — Raja Rajamannar, leader advertising and communications officer and president, healthcare commercial enterprise for Mastercard. Edited excerpts from an exclusive interview with Amit Bapna:
What’s your view on the Indian marketplace’s ability and Mastercard’s brand play here?
The opportunity is massive right here in India, but we’re at the start.
We are extraordinarily devoted to make it a fulfillment. We currently got into tier-2 cities for the primary time with our logo marketing campaign with MS Dhoni. We have diagnosed 10 areas of ardor points that people care approximately. We are seeking to become aware of what form of passion factors paintings most in India and we can get deeper into each of them. Cricket, Bollywood, and music would be the 3 diagnosed factors in India.
One of the emblem’s largest assets, the emblem, become dramatically altered earlier this year. What convinced you that it becomes the right choice?
It was a properly-considered choice, I had thought approximately it for 2 years.
Our research in extra than 26 countries confirmed that 80% of human beings acknowledged the emblem with out the name but just the emblem.
That gave us confidence. The other motive is that we need to be a way of life logo and no longer a credit card brand. Removing the brand helps in that course too. We have released our first eating place called Bistro by means of Mastercard at Rome airport.
We are launching the second restaurant in upscale Manhattan (New York City). We are curating stories that cash can’t purchase. Two months in the past, we launched sonic branding throughout the globe. We have created 20 extraordinary variations and via the give up of 12 months, we can have 2 hundred versions.
At Mastercard, you’ve created new roles in brand safety and chance control that take a seat in the advertising feature. How nicely is this strategy working, and might this be the way forward across classes?
There are infinite factors that are rising that have an impact on the recognition of a brand.
One unwell worded tweet or a wrongly timed marketing campaign could have an extended-lasting impact to the image.
Marketers must be usually on a lookout for any feasible hazard to their brands. This isn’t most effective about making sure that the logo is not seen in an undesired region. It is a greater holistic method concerning identifying and addressing any chance earlier than it becomes a real assignment. We can completely ban a platform or pay a top class to leverage it, just to guard image.
We don’t view danger as a 4-letter word. We’re embracing it and bringing the chance discipline to the leading edge of all decision making, planning, resource allocation, and execution. The new roles and obligations round threat control go past emblem protection to additionally include brand health and visibility, logo recognition, facts privateness and protection, compliance and organizational schooling in these regions. The approach has helped the brand make informed selections. This is the way ahead for destiny ahead advertising organizations.
How crucial is the protection of clients’ facts and privacy in logo building nowadays?
Every marketer should remember that he’s a purchaser himself. Think approximately your personal choices and the way you need to be handled. The center tenets of GDPR: duty, transparency, consent and man or woman rights are concepts every marketer should be aligned with and think thru as they expand and prompt programs.
With the rise in the wide variety of linked gadgets, there may be a vital and opportunity to shield the virtual atmosphere. We realize that earning and maintaining the believe of our clients, cardholders and customers are crucial for our future.
That’s why we have incorporated privateness and protection in the layout of the whole lot we do.