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Beyond the Transaction: Every Transaction Has a Story

Social Listening Helping to Drive Business

Back in the 80’s there used to be a well-known ad that went “When EF Hutton Talks, People Listen.”  Fast forward about 30 years and companies have turned this tag line on its head, doing their best to listen when people talk about their brands.

At MasterCard we’ve been listening closely to our customers, our partners and our cardholders.  Over the past six months, 125,000 people created unique content or commentary about MasterCard, stimulating 520,000 social media conversations, with a potential reach of 1.3 billion people.  We’re doing this everyday across 43 markets and 26 languages in real time. And while that may seem like a lot to absorb, what’s  compelling is what we do with all the insights we derive from social listening and how it helps to inform our world beyond cash vision.

Exactly one year ago we set out to listen, engage and analyze what our customers, partners and competitors were saying about us. We did this by developing, in partnership with PRIME Research, a real-time social listening and analytics tool housed in dedicated Conversation Suites in our Purchase, NY headquarters and regional offices.

From mobile payments to the shift to EMV, to conversations about fraud and security, cross functional teams within MasterCard globally are engaged in purposeful listening which is helping to inform business decisions.  Conversation Suite data and insights aid in execution of real-time communications– whether in identifying and responding to an issue via @AskMasterCard or Leveraging insights to help inform new product launches like MasterPass.

Check out our latest video to experience the Conversation Suite for yourself and let us know what you think. Or better yet, Tweet us @MasterCardNews or leave a comment here and tell us what your company is doing to embrace social listening and open, collaborative environments.