In an era of technological disruption, there’s an urgent need to transform the business of marketing brands and informing consumers, as you’ll hear in this insightful DLD25 conversation between Raja Rajamannar (Mastercard) and journalist Diane Brady (Fortune).
“Today on average, every one of us is exposed to anywhere between 3,000 and 10,000 commercial messages every single day”, Rajamannar, the Chief Marketing Officer of Mastercard, notes in his introductory presentation. “We don’t even notice them. We have learned the art of tuning ourselves out from all those kind of messages which come in front of us.”
This information overloads means that marketers have a “very narrow window of attention”, Rajamannar notes – and he feels that most of his colleagues fail because “the way marketing is being done today is completely deceptive. It is taking consumers for granted.”
He argues that marketing has “lost its direction, its purpose, and its values”, becoming unnecessarily invasive while neglecting consumer experience. One reason he sees is that raditional marketing theories were formulated decades ago “when there was no Internet, no mobile, no social media.”
In his bestselling book Quantum Marketing“, Rajamannar proposes a new framework centered on privacy and data security. “Your privacy can be completely protected and still we can do fantastic directed targeted marketing”, he insists, advocating for ethical data practices that respect consumer autonomy.
Watch the video for further insights into AI, the importance of trust in marketing, and more.
