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MasterCard Today:  Building Connections through Social Media - BDI 11/18.2010 FInancial Services Social Communications: Case Studies and Roundtables
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MasterCard Today: Building Connections through Social Media - BDI 11/18.2010 FInancial Services Social Communications: Case Studies and Roundtables


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Case Study: MasterCard Today: Building Connections through Social Media …

Case Study: MasterCard Today: Building Connections through Social Media
Presented by: Jim Issokson, Senior Business Leader, Reputation and Issue Management, MasterCard Worldwide & Elizabeth Birenbaum, Vice President, US Digital Marketing, MasterCard Worldwide
This presentation will cover how MasterCard is leveraging social media to drive brand engagement, loyalty and corporate reputation.

Published in: Business, Economy & Finance

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  • 1. Building Connections Through Social Media ©2010 MasterCard. Proprietary and Confidential Jim Issokson and Liz Birenbaum MasterCard Worldwide November 18, 2010
  • 2. Challenging Landscape Brand Negativity Customer Service Interchange Product Frustration Anti-Credit Cards Legislation Inflammatory Comments A Changing and Challenging Business Environment ©2010 MasterCard. Proprietary and Confidential Vigilantes Lobbyists Legislation Global Complexities 70% 70% 90%Recommendations from people known Consumer Opinions posted online Brand Websites Changing Media Environment Percentage of Worldwide Consumers Who at Least Somewhat Trust the Following Forms of Advertising* Source: Nielsen Global Online Consumer Survey, Apr ’09 *e.g., 90% of respondents trusted “completely” or “somewhat” recommendations from people they know
  • 3. Leverage Social Media to Enhance Brand and Corporate Reputation ©2010 MasterCard. Proprietary and Confidential The Goal: Build Trust Among Stakeholders
  • 4. Optimizing the Social Media Opportunity ©2010 MasterCard. Proprietary and Confidential Listen Influence Integrate
  • 5. Social Media Tactics to engage Internal and External Audiences Shifting the Mindset: Trading Control for Credibility Distribute a daily digital highlights report to senior Holistically structure online marketing , communications and product development efforts ©2010 MasterCard. Proprietary and Confidential highlights report to senior management Monitor and respond to consumer conversations; expand social footprint
  • 6. Influencer Focus • @MasterCard news • YouTube • Demonstrate Commitment • Enable Influencer Connectivity Our Strategy in Action Consumer Focus ©2010 MasterCard. Proprietary and Confidential • Enable Influencer Connectivity • Identify issues/trends • Correct impressions/facts Consumer Focus • • @MasterCard • Consumer YouTube • Support everyday commerce • Enable e-commerce • Provide greater utility
  • 7. SIDEBAR • Establishes transparency by providing photos of the MasterCard employees tweeting in the corporate channel, as well as their individual Twitter handles • Defines a purpose by saying what the channel will be about Implemented an initials system so users can differentiate which MasterCard employee Tweeted @MasterCardNews Corporate Twitter Channel ©2010 MasterCard. Proprietary and Confidential channel will be about • Redirects consumers to the appropriate MasterCard contact • Addresses legal concerns with a disclaimer saying MasterCard is not responsible for third party content on the page; ask the client about any potential concerns from their legal team regarding the tweeting of third- party links and content
  • 8. @MasterCardNews Influence ©2010 MasterCard. Proprietary and Confidential
  • 9. Helping MasterCard Customers In less than 24 hours, they turned a highly frustrated customer on the verge of cutting all ties with a brand into a wooed customer who felt like a king! They also showed me that they are a brand that understands that you cannot hide from your customers anymore and that the best way to ©2010 MasterCard. Proprietary and Confidential felt like a king! But what impressed me the most is that MasterCard has a fully functional early warning system that works! A system that connects social media people to regional marketing people to senior management to local management. All working for one purpose, ensuring customer satisfaction. the best way to solve a problem is to address it.
  • 10. Fortune 100 Companies Use Social Media ©2010 MasterCard. Proprietary and Confidential Burson Marsteller Global Social Media Check Up, Feb. 2010
  • 11. We've Only Just Begun • Global Expansion • Payment Capabilities • Mobile Extension Deeper Marketing Integration ©2010 MasterCard. Proprietary and Confidential • Deeper Marketing Integration • Continued Experimentation
  • 12. MasterCard Our Priceless Communications Platform ©2010 MasterCard. Proprietary and Confidential P L A Y
  • 13. Understanding The Context of Consumption Vigilant and Risk-Adverse More Resourceful and Efficient Prioritizing Decisions-making a Total View ©2010 MasterCard. Proprietary and Confidential Focus on theFocus on the Consumer in the EraConsumer in the Era of Consequenceof Consequence Indulgence Discredited, Embracing Responsibility New Networks That Engage and Empower Source: The Futures Company, A Darwinian Gale 2010
  • 14. Financially Aware Socially Aware Responsibly Aware Today, Consumers Are More…. ©2010 MasterCard. Proprietary and Confidential Responsibly Aware Intelligently Aware Meaningfully Aware Practically Aware
  • 15. MasterCard’s Digital Value Proposition Help consumers confidently manage their finances Advance Commerce Globally Help consumers filter the world to what matters to them ©2010 MasterCard. Proprietary and Confidential©2010 MasterCard. MasterCard Proprietary and Confidential
  • 16. Optimizing The Opportunity ©2010 MasterCard. Proprietary and Confidential Social insights inform go-to- market approach Drive awareness and advocacy by leveraging relationships Accelerate brand relevance and business objectives
  • 17. Listening to Consumers ©2010 MasterCard. Proprietary and Confidential
  • 18. Consumers shop for holiday gifts on using curated Amazon gift selections, ratings & reviews Platform Integration to Drive Business Objectives ©2010 MasterCard. Proprietary and Confidential
  • 19. Lessons Learned • Integrate across functions/regions early • Walk before you fly • Staff appropriately, resources ©2010 MasterCard. Proprietary and Confidential • Staff appropriately, resources are critical • Social media is “always on”– requires 24/7 monitoring • Think/Act Globally