JPMORGAN is creating a marketing business that will let brands tap into the firm’s trove of card data as they offer their wares to customers.
The new unit – Chase Media Services – will allow advertisers to target the bank’s customers based on their past purchase history, according to a statement. The lender has already designed 30-day campaigns for brands including Air Canada, Solo Stove, Blue Bottle and Whataburger, the statement said.
With the new offering, the bank will give brands insight into how much incremental spending each individual ad was able to deliver. The company created the new division after it acquired the marketing platform Figg in 2022.
Chase’s data provides a “comprehensive view of purchase behaviour,” Rich Muhlstock, president of Chase Media Solutions, said in the statement. “This strengthens the degree of personalisation, helping brands deliver offers that stoke consumer interests.” BLOOMBERG
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