I was recently asked an interesting question at an ETMasterclass about balancing the history of a long-standing legacy brand with an approach centered around innovation.
It all comes down to understanding your consumer. If the role of strong heritage is part of your target audience's decision-making, then you need to consider it. But when doing the research, you might find consumers who see this perspective as outdated.
Ultimately, you need to know what drives your target consumer — and those insights should then inform your strategy.
Finding the right balance is part of our job at Mastercard. We are a legacy brand, but we are always trying to keep things fresh. Our transition to a fully multisensory brand is one such example — it’s innovative, it’s different, and it helps us connect with our consumers in a more compelling way.
We must remember that what got us here won’t get us there.
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Senior Vice President | Chief Revenue Officer | Growth Sales Leader | Transformational Marketer
2moSo many powerful takeaways from this conversation, thank you!