To help support small and
medium-sized businesses, Mastercard is debuting a new suite of products, with beefed-up cyber protection and more digital tools, called the Mastercard Collection for Business.
To promote the
launch, “Dreams,” a new campaign from longtime agency McCann, showcases how the brand can solve operational headaches for companies like The Meat Hook and Noble Signs.
Both the collection and its
marketing stem from Dreamonomics, global research aimed at uncovering what these smaller businesses need to survive in a challenging economy. What they’re craving is growth, but they want it to
be predictable, protected and easier to manage.
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The new push extends Mastercard’s long-running “Priceless” campaign, according to a company spokesperson. “It brings
Mastercard’s enduring 'Priceless’ philosophy to small business owners by celebrating what matters most to them: the ambition to build something meaningful,” she said in an email to
Marketing Daily. Ads are taglined “Building your dream business. Priceless.”
"Small businesses bring the dream; Mastercard brings the infrastructure to help propel,
protect and power that dream,” said Mark Barnett, global head of small and medium enterprises at Mastercard, in the product announcement.
“Dreamonomics shows that business owners
are not choosing between ambition and caution — they are looking for growth that is more predictable, more protected, and easier to manage. Our strategy is built around helping SMEs propel their
dreams, protect against risk, and power their payments — connecting insights, tools, and solutions that support the daily realities of running a business."
The collection includes three
products, each aimed at different concerns: Business Growth, Business Lifestyle and Business Security. Still, 89% of those surveyed are hungry for more digital tools: (In the research, 71%
prioritize cyber protection, yet only 37% are currently using cyber tools.)
The spokesperson says the ads will run on linear and connected television; social, including YouTube Shorts;
streaming audio; and programmatic display, timed to air leading up to the upcoming TCS NYC Marathon.
The push ties both the ads and research to the race, highlighting the growth
businesses can find in events, holidays and the ability to pounce quickly on opportunities.
The company’s analysis found that small restaurants and bars along the marathon route saw a
22% race-day spending lift, peaking at 40% in early afternoon, according to Mastercard. So the company will spotlight small businesses along the marathon route.
Mastercard is also
releasing a small-business playbook designed for high-traffic moments.
The new products come as small and medium-sized businesses are fretting about inflation and pulled-back consumer
spending.
In the most recent quarterly report from the U.S. Chamber of Commerce, only 30% describe the U.S. economy as good right now. And, worried about cash flow, respondents say they're
investing less in their businesses.
That jibes with Mastercard’s findings: 68% of small and medium-sized businesses prioritize stability and predictability over rapid growth, and 54%
actively avoid unnecessary financial risk. And 61% are focused on deepening customer relationships rather than reaching as many customers as possible.