The Art of Purpose-Driven Marketing: How Business Can Change the World for Good
When Raja Rajamannar talks about marketing, he doesn't sound like your typical chief marketing officer. As Mastercard's CMO, he's
When Raja Rajamannar talks about marketing, he doesn’t sound like your typical chief marketing officer. As Mastercard’s CMO, he’s pioneered a purpose-driven marketing approach that transforms profit-focused disciplines into something that genuinely improves people’s lives whilst building stronger businesses.
Beyond Traditional Marketing: The Purpose-Driven Revolution
Rajamannar identifies three core reasons marketing exists in companies: building and protecting the brand, advancing the business, and creating differentiation in competitive markets. But his purpose-driven marketing philosophy adds a crucial fourth dimension: marketing as a force for good.
“We call it doing well by doing good,” he explains. “Marketing is not just a force for growth but it is also a force for good.” This purpose-driven marketing philosophy fundamentally changes how companies approach their strategies, moving beyond simply selling products to solving real problems.
The Quantum Marketing Revolution
In his book “Quantum Marketing,” Rajamannar challenges the foundations of traditional marketing theory. He points out that most marketing principles were established over six decades ago, before social media, mobile phones, the internet, or artificial intelligence existed.
“Are these principles so timeless that they remain constant with all the changes happening, or are they actually going to change?” he asks. His conclusion: many traditional marketing approaches aren’t just ineffective in today’s world, they’re actually counterproductive.
Quantum marketing, as he defines it, involves challenging every aspect of marketing from its foundations and reimagining it for the current context whilst identifying principles that will remain relevant regardless of environmental changes.
Purpose-Driven Marketing as a Profit Driver
Central to this purpose-driven marketing approach is the idea that genuine purpose drives profitability more effectively than profit-focused strategies. When companies genuinely aim to do good for society and the planet, they earn invaluable consumer trust that becomes a major differentiator.
“What you bring first and what you bring next is the key point,” he notes. Profits follow naturally when companies prioritise larger societal good over immediate financial gains.
Real-World Purpose-Driven Marketing: Three Transformative Examples
The True Name Card
Recognising the challenges faced by transgender individuals whose appearance might not match the name on their payment cards, Mastercard developed the True Name card. This allows people to use the name they prefer to be called, regardless of legal documentation status.
Initially, banks worried about controversy and market size. However, after one Canadian bank took the plunge, the initiative spread rapidly. The True Name card is now available in over 28 countries and has become one of Mastercard’s most profitable products.
Touch Cards for the Visually Impaired
Inspired by his grandmother’s blindness and a colleague’s observation about accessibility gaps, Rajamannar’s team developed a brilliantly simple solution: cards with small notches that allow visually impaired users to identify card types by touch.
The system is elegant in its simplicity: different shaped notches indicate different card types (half-hexagon for credit cards, V-shape for gift cards, C-shape for debit cards), whilst the notch position indicates proper card orientation. The presence of any notch identifies it as a Mastercard.
Now available in over 35 countries, the feedback has been profound. Parents of visually impaired children describe it as “game-changing” because it provides crucial independence.
AI-Powered Refugee Support
When Ukrainian refugees flooded into Poland following the war’s outbreak, Mastercard developed an AI-powered app that matches refugees with opportunities based on their qualifications, experience, and needs. The app identifies available jobs, provides compensation information, cost of living data, schooling options, and even facilitates property searches.
The impact was remarkable: one in five Ukrainian refugees who settled in Poland used this app. The Polish government has expressed interest in adopting it officially, and the UN Security Council has invited Mastercard to discuss public-private partnerships for addressing global migration crises.
The Human Side of Business
These purpose-driven marketing initiatives demonstrate something crucial: when companies operate with genuine purpose, they create meaningful impact whilst building stronger businesses. Employees find their work more fulfilling, consumers develop deeper brand loyalty, and competitive advantages emerge naturally.
Personal Application: Purpose-Driven Marketing for Individuals
Rajamannar’s principles apply equally to individuals. Just as companies must market themselves authentically, individuals need to build their personal brands on genuine foundations rather than fabrication.
Key principles for personal marketing include:
Authenticity: You can’t fake genuine value indefinitely. People eventually see through inauthentic presentations.
Performance: Simply having the best skills isn’t enough. You must effectively communicate your value proposition.
Decency quotient: Mastercard’s concept of maintaining ethical standards whilst competing. Short-term ruthless behaviour might provide temporary advantages, but decency creates sustainable long-term success.
The Broader Vision
This purpose-driven marketing philosophy suggests a fundamental shift in how we think about business success. Rather than viewing profit and purpose as competing priorities, his work demonstrates they’re complementary forces that strengthen each other.
When purpose-driven marketing becomes about solving real problems and improving lives, it creates the kind of authentic connection between brands and consumers that traditional advertising struggles to achieve. The result isn’t just better business outcomes but a better world.
This philosophy challenges every organisation to ask: beyond selling products and running campaigns, what genuine good are we creating? The answer might just transform both your business and the communities you serve.
This conversation between Raja Rajamannar and TED’s Whitney Pennington Rodgers was recorded at TED@BCG on September 12, 2024.ssons from Game of Thrones teach us one universal truth: in business, as in Westeros, winter is always coming.
