Raja Rajamannar, chief marketing & communications officer at Mastercard says that we’re settling into a “new abnormal,” where virtual and real worlds collide every day. This is the undercurrent for the trends he is watching in the new year. Rajamannar will be speaking at Brand Innovators CES event on Thursday January 5th.
What trends do you think will be big for 2023?
AR is on the rise. Even though VR seemed to be the buzzier “reality” in recent years, AR technology has been gaining more and more traction. This is likely because there are more tangible use cases. Plus, the ability to use an existing device instead of an expensive headset makes it easier to access and lends itself to faster adoption.
Live events are returning at scale. After nearly two years of attending virtual seminars, panels and festivals, people are craving in-person experiences. Brands should listen to their customers and deliver accordingly. I recently went to a Mastercard-hosted customer conference, and we had more attendees than ever before. The excitement was palpable.
Brand safety will remain a top priority. As brands continue to explore new platforms and forge innovative partnerships, we’re also entering entirely new terrain in terms of brand safety. We’ll have to consider carefully how to minimize reputational risk, coming together as an industry to put safeguards in place.
What role will AI play in 2023?
Deployment of AI is rising significantly and almost invisibly. It’s pervading the marketing ecosystem, but many people don’t even realize it. To continue to advance it, we need talent that understands AI because it will be so crucial to how we do business.
With AI, marketers will gain deep, real-time learnings about consumer trends and preferences, enabling actions that are highly relevant and appropriate in any given context. With the ability to create highly optimized, personalized marketing programs on the fly, brands will be able to connect more closely with consumers and engage with them on their own terms.
How are you thinking about sustainability in 2023?
The way I view it, marketing helps bring a company’s sustainability vision and goals to life. Whether it’s taking a hard look at marketing supply chains to minimize carbon emissions or identifying exciting ways to rally consumers around eco-friendly initiatives, there is a tremendous opportunity for marketers to use their power and reach for good in 2023.
At Mastercard, for instance, we pledged to be net zero by 2040 and are focused on using our technology and network to inspire collective action that fosters a more sustainable digital economy. Through initiatives like the Priceless Planet Coalition, we are working with dozens and dozens of businesses around the world to contribute 100 million trees to forest restoration.
