Raja Rajamannar is a true giant in the field of marketing. President of the World Federation of Advertising and CMO of Mastercard since 2013, Raja argues in his latest book, Quantum Marketing, that there is no such thing as brand loyalty. Raja warns marketers not to mistake consumers liking your brand for consumer loyalty to it. What marketers confuse for brand loyalty is merely brand stickiness. Marketers need to understand the true drivers for customer choices in order to leverage them and encourage stickiness.
Raja shares his advice for marketers just getting started building their careers. The most important thing is trying to stay ahead of the curve – grounded in commercial realities. The second thing is to have formal internal and external mentors. Third thing is networking, both internally and externally. All of this is facilitated by a strong work ethic, dependability and know-how.
If he could start over from the beginning, Raja would spend a lot more time learning about technology and consulting, where you get exposure to multiple industries at once and thus a huge amount of learning.
Raja’s advice for marketers:
- Learn: Dedicate time and effort to learning and staying on top of things around them
- Broaden: you should have multi-industry experiences
- Broaden: If you’re in the US, leave! Don’t restrict yourself to your surroundings.
- Broaden: Don’t stay put in marketing. Stints in sales, finance, technology, data will help you understand your role. You have to be a general manager with deep marketing expertise.
To learn more about Raja’s industry-shaping ideas, check out Quantum Marketing.
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