Wednesday, November 11, 2009

Mastercard Moments: A case of the short term feeding into the long term

The Mastercard Priceless idea is about special moments that have a simple hook. The hook is a common human truth, making the moment more accessible to everyone.

Moving from a campaign level, Mastercard have gone to the next stage and adapted their rewards program to be more functional for their user base. The rewards that they offer can become moments and priceless experiences. Mastercard Moments is a natural progression in both a business and marketing context.

Their adaptation of their rewards program is an aggregator of their offering inside a simple social media framework. When I say simple, I mean a user has access to only their profile (not the universe) and can access those offers that are right for them, setting the ones they like to a wishlist. The mechanic is that it seems to allow users to find and discover what rewards they're after and access it easily. Consequently allowing Mastercard to know what their customers want. It's a tool which seems to meet needs without wasting time.

It's a no brainer. Much smarter than using your audience to create your content - ie Mastercard could have asked users to submit their own Mastercard moments into a repository. But that begs to ask the questions-

  1. who cares about what Joe the Plumber has been up to?
  2. Why is relevant for a user to filter through what becomes everyone else's irrelevant experiences?
  3. What purpose does that serve to the Mastercard user?
  4. What purpose does that serve to Mastercard?

Here we get an ongoing adaptive process. Feed successful marketing campaigns into new long term business solutions and allow those business solutions to feed back into short term campaigns. Using the business solution as a guide. For example, Mastercard can see which offer motivates most users and work towards short term communications to maximise returns on that offer. Very Nice.

And as long term solutions create a direct communications exchange with consumers, business find opportunities to give consumers what they want. One feeds the other and we end up with businesses maximising their returns.'s taking all my strength to hold off on a priceless gag....

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