JPMorgan Chase launched Chase Media Solutions, a new digital media business. It is the first bank-led media platform, enabling advertisers to send relevant promotions to around 80 million financial customers.
Chase acquired transaction-based digital advertising platform Figg in 2022, a key component of Chase’s two-sided commerce platform. Chase Media Solutions was announced on April 3.
Why we care Over the past few years, many retailers have added new revenue streams by creating Retail Media Networks (RMNs) for advertisers. NMRs are attractive to advertisers because they can deliver targeted ads based on retailers’ deep knowledge of their customers, especially loyal customers.
data Chase’s advantage is proprietary transactional data, which allows brands and agencies to target based on purchase history. RMNs also have this data, but only within their specific stores and owned channels. Chase customers have a purchase history at the retailers and other businesses they shop at.
Non-retail media platform. “Our deep understanding of consumer spending across categories has led us to reimagine what retail media networks can deliver,” Rich Muhlstock, president of Chase Media Solutions, said in a statement.
“Like retailers, we have our own data and a dedicated audience. But what sets us apart is the unmatched scale and knowledge of our clients, who have long served as a trusted guide to their financial decisions. Chase reaches brands, merchants and shopping verticals, providing a comprehensive view of shopping behavior; this reinforces the degree of personalization, helping brands deliver offers that pique consumers’ interests,” Muhlstock said.
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early adopters Pilot partners include Air Canada, Solo Stove, Blue Bottle and Whataburger, all of which ran 30-day campaigns through Chase Media Solutions.
“The Chase team succeeded in creating a thoughtful and targeted offering that exceeded our expectations,” Scott O’Leary, Air Canada’s vice president of loyalty and product, said in a statement. “Two different offer builds generated incremental revenue and awareness for Air Canada among Chase’s card member base. These tests clearly demonstrated the potential of the Chase Media Solutions channel and we look forward to working together more in the future.”
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