The CMO Podcast The Brand Builder's Playbook // The Science of Brand ROI: Measuring What Matters with Raja Rajamannar (Mastercard)
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Nov 7, 2025 
Raja Rajamannar, the Chief Marketing and Communications Officer of Mastercard, shares insights on quantifying brand ROI. He explores the critical link between creative storytelling and measurable growth, detailing a three-dimensional framework focused on brand strength, business growth, and competitive advantage. Raja discusses the importance of transparency with CFOs and the board, particularly during downturns, and how purpose-driven campaigns can boost profits while making a social impact. His advice to CMOs emphasizes the need to speak the financial language and involve the entire organization in marketing.
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Start With The Right Question
- Clarify the exact question before measuring brand; different questions demand different data and methods.
- Well-articulated questions enable time-series, elasticity, channel, or audience ROI analyses that drive actionable decisions.
Measure Brand With Multiple Techniques
- Treat brand as an asset and measure it with multiple techniques like valuation, time-series, cross-sectional analysis, and media-mix modeling.
- Use these methods to connect brand moves to sales, pricing power, and long-term value for clear CFO-facing ROI.
Use CLV To Connect Brand To Value
- Highlight customer lifetime value to the CFO because brand increases margins, lowers acquisition costs, and boosts retention.
- Use CLV as a cross-functional metric that links brand work to firm value and board-level concerns.