As consumerism and competition shift the healthcare landscape, hospital marketing should take a cue from Mastercard.
Reference this great article in CMO Today section of The Wall Street Journal, from sponsor Deloitte – Mastercard’s Shift from Storytelling to Storymaking.
It’s not that great storytelling isn’t fundamental to connecting with audiences. In fact, our recent blog post Healthcare Branding: start with “their” story talks about the power of storytelling.
But “storytelling” is just that – it’s “telling.” It’s one way. On the other hand, Mastercard’s “storymaking” is shared with consumers. It’s marketing in collaboration with consumers, making them part of the narrative.
And it’s a category agnostic idea. Just as relevant for hospital marketing as it is for credit card, financial, retail or food. Because as media habits have changed, expectations have changed. And experiencing and participating is more relevant than being on the receiving end of “telling.”
According to Mastercard CMO Raja Rajamannar, despite the success of the long-running Priceless campaign, the company reexamined its strategy three years ago to ensure it still resonated with consumers. He states that while people still come together in the family room, it’s a collection of individuals who are all in their own private worlds with their own connected devices.”
“Priceless” still endures, however, as the well-known umbrella that holds all Mastercard marketing efforts together. But “Priceless” is now delivered through always-on marketing across four categories: Surprises, Cities, Causes and Specials.
You can read the CMO’s interview here about how the organization is redefining its relationship with consumers and how this new always-on marketing has benefited the organization. He answers the following questions:
• How has the shift from campaign-based marketing to always-on marketing played out at Mastercard?
• In an age of information overload, how does Mastercard connect with consumers and build relationships?
• What other initiatives have been particularly successful?
• In what areas would you like to see your marketing organization improve?
• How is the CMO position evolving? What can top marketers do to make the most of their roles?
Hospital marketers have every right, in their own way, to be just as relevant as Mastercard. The stories are there, and they’re powerful. And customers are ready for the “making.”