Why it matters
The pandemic and lockdowns caught brands and businesses unprepared, but as the experience of Mastercard shows, a specific risk management function within marketing helped it respond more quickly and effectively to the situation as it developed around the world.
Takeaways
- The number of risks that a brand faces are growing – cybersecurity, data privacy, third-party risks to name but a few – and containing those risks will be a success factor for marketing in future.
- Putting a risk management function in place is only half the battle – regular ‘fire drills’ are necessary to ensure everyone within...