Ed Gorman credits his international business experiences and responsibilities for his growth as a business leader and individual. He is especially appreciative for his experiences in Asia, which, he admits, have left him more open-minded. His push for collaboration resonates throughout Carat’s culture and is one of the building blocks to his delivery of meaningful and measurable client results.
Ed believes that when innovation is at the core of Carat’s marketing strategy and his team follows a framework for success, the only challenge he faces is prioritization of the application. To overcome this challenge, Ed ensures that progress is diligently monitored to manage timelines and deliverables. He also believes that, while difficult, welcoming last minute change is key to landing the best outcome. For MasterCard, this is a key measurement of the campaigns and people that Ed manages.
Examples of Ed’s work with MasterCard include its successful Stand Up To Cancer campaign, which encouraged cardholders to dine-out and pay with their MasterCard during an eight-week promotional period. For every purchase over $10, MasterCard donated one cent to cancer research, up to $4 million. In 2014, Carat helped facilitate 4 billion dining-related transactions that helped MasterCard reach its donation goal quicker than ever. Elements of Carat’s campaign included a first-of-its-kind out-of-home restaurant that was built on top of a billboard in the heart of Times Square, providing cardholders with a truly Priceless Experience. Because of this, MasterCard drove a 265% growth rate within the dining category.
Ed also helped MasterCard Hong Kong bring back the emotional pull of Mother’s Day while making it as Priceless as Mom herself. Online, consumers shared Priceless stories about their mother for a chance to win a Priceless experience for her on Mother’s Day.
Innovation is central to our marketing strategy because marketing is contingent on human behavior and people are evolving their preferences and interactions by the second — and we must do the same. This requires an intense focus and commitment to innovation and making it imperative to the business.
In fact, Ed is proud of the Innovation Framework, a solution he created and applies to all areas and responsibilities to his work at Carat. The Innovation Framework is an approach that, at the outset, clearly defines what constitutes an innovation and how success is measured. This is critical because, otherwise, businesses constantly chase the next new thing as opposed to following strategies and tactics that actually drive business outcomes. By setting a framework approach, Ed yields innovation in the areas of increased sales and improved process, all of which are critical to long-term growth and satisfied employees and clients.