Social Media is changing the way brands communicate with their customers. In a recent study the company MasterCard took on a project to become the highest connected and socially engage brand in the payments market. MasterCard wanted to better connect with their stakeholders and have the public “gossiping” about MasterCard beyond cash.
During MasterCard’s mission to become he top brand they outlined 10 important lessons they learned along the way. Below are the top reasons I felt were really important.
1. They learned to do things differently: MasterCard says to be “ready to take thoughtful risks, and to test and learn” from those risks. The digital world is constantly changing and brands today need to be more open to new experiences.
2. Earn your way to the top by listening: Like most company’s with huge brands, they would say listening is a big part of their success. Always know who’s talking about your brand, when people are talking about your brand, and why people are talking about your brand. MasterCard integrated into using the MasterCard Conversation Suite which allowed them to better understand consumer sentiment.
3. Making a cultural statement: Good brands have a wide variety of culturally diverse workers and a diverse work environment. MasterCard work environment always have people talking and relaxing at their command center. They have a 40 foot LED screen that displays real-time conversations on a influenced topic. MasterCard says that their Conversation Suite is a very popular place now.
4. Finding great technology partners: that can help you to scale your your resources and content: MasterCard works closely with Prime Research to help build their conversation suite. It’s a program that tracks 43 markets and 26 languages. It also does simple reporting that allows MasterCard to engage with social media like bloggers and other social channels.
5. Be bigger than yourself: Brands should always expect a two way engagement when trying to promote. Being engaged with your customers can then allow a brand to share stories and stay connected to build relationships. MasterCard digital team focuses more on publishing and creating a “conversation” in the society.
6. Take advantage of multiple platforms: The good thing about social media is that not only do they connect to a lot of people but each platform has something unique about it that keeps customers engaged. Multiple platforms helps expand content while not creating new content for each individual platform. MasterCard did this by creating a content hub to amplify their content on social channels like Twitter, Pinterest, and Tumblr.