MasterCard CMO Flanagan: Consumers Demanding Authenticity
Forbes CMO Network, Wednesday, October 21, 2009 10:42 AM
In response to a question about how marketers can rebuild trust with consumers, Lawrence Flanagan, CMO for MasterCard Worldwide, says that global economic crisis has heightened our desire for control over our lives and points out that we now have the tools to express ourselves and be heard.
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But the transformation of power to the consumer offers opportunities as well as challenges, he maintains.
"Done right, you can build an influential community that is the ultimate voice of your brand," he says. "They truly become your brand ambassadors or brand advocates, exhibiting the highest form of brand loyalty." The key is authenticity and honesty and "giving them the tools they need to make their lives easier."
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