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Next 3-5 Years Will Be ‘Chaotic’ for Marketers in the Metaverse: Mastercard CMO

Raja Rajamannar, Mastercard CMO and president of the World Federation of Advertisers, discussed data privacy, the metaverse and more with The Drum.

MastercardHere are some highlights from their conversation:

  • Marketers need to be more responsible for consumers’ privacy. Marketers need to make it very clear what they’re doing with consumer data.
  • “We don’t need every single aspect about [a consumer] to be able to target the right communication to them… the first principle that marketers need is to know the minimum amount of data that you require to be able to target, create relevance and measure the effectiveness of your campaigns.”
  • He thinks its “inevitable” that consumers will demand and get a portion of the revenues generated from their data.
  • The metaverse may be “pretty chaotic” for the next 3 to 5 years. “There is going to be a period of turbulence as people are discovering new possibilities. There are bad people discovering bad possibilities. So [risks are] going to be there. Regulation has to come in…”

Read the full post from The Drum.

 

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