MasterCard mines social trends and data to ‘connect the right offer to the right consumer’

MasterCard is talking to banks across Asia Pacific, including Australia, as it rolls out new data-driven marketing technology that allows offers to be driven “to the right consumer at the right time”.

The technology, called Priceless Engine, uses more than 20 tech platforms to crunch data, monitor consumer trends and study social media conversations to determine what offers to send, at what time and to which consumers.

Asia Pacific group marketing head Sam Ahmed said it will allow MasterCard, retail and bank partners to see within an hour whether a marketing campaign is working.

“We get immediate responses on what is what is working and what is not,” he said. “We are publishing where the consumers are, on Facebook, on paid media. I can publish to two million people in a split second, and in an hour I can find out what is working.”