Chase Launches Digital Media Platform

JPMorgan’s Chase Bank has launched a digital media platform to power transaction-based marketing campaigns that connect brands directly with the financial institution’s 80 million customers. 

Chase Media Solutions combines the scale and audience of a retail media network with the advantages of its own first-party financial data, institutional credibility and targeting capabilities, the company said in a statement. 

Chase’s large consumer base and 6 million small business clients leverage the bank’s range of travel, dining and shopping offerings, which generates insights across consumer categories that brands can use to connect with consumers’ personal passions and interests. For Chase customers, the new platform can provide personalized offers and the ability to earn cash back with brands they know or are discovering for the first time.

According to the platform's website, Chase's digitally engaged audience includes 63 million customers.

The launch of Chase Media Solutions follows the integration of Figg, a card-linked marketing platform. JPMorgan Chase & Co. acquired Figg in 2022 as a “natural step” in Chase’s effort to build out its owned, two-sided commerce platform, and as part of the firm's vision to bring “win-win value” to both business clients and banking customers, the company says.

“Our deep understanding of consumer spending across categories has driven us to reimagine what retail media networks can offer,” Rich Muhlstock, president of Chase Media Solutions, said in the statement. “Like retailers, we have first-party data and a dedicated audience. But what sets us apart is the unrivaled scale and insights from our customers – having long-served as a trusted guide for their financial decisions. Chase reaches across brands, merchants and shopping verticals, providing a comprehensive view of purchase behavior; this strengthens the degree of personalization, helping brands deliver offers that stoke consumer interests.”

Chase Media Solutions platform offers:

• First-party data: Chase’s owned transaction data enables brands and agencies to “precisely” target customers at scale based on purchase history, such as targeting new, lapsed or loyal customers.
• ROI and attribution: Brands capture incremental spend on everyday purchases both in-store and online with attribution for every media dollar spent.
• Brand safety: The platform is built on Chase’s verified audience and brand-safe owned channels.

Pilot Partners, Case Study 

Among initial partners, Chase Media Solutions designed 30-day campaigns for Air Canada, Solo Stove, Blue Bottle and Whataburger.

With fall being a prime time for outdoor brands like Solo Stove, the brand's primary goal was to kindle incremental sales online during the fourth quarter of 2023, according to a case study on the Chase Media Solutions website. The team decided that an "elevated product," like Solo's fire pits, pairs well with a "sophisticated" audience, so the campaign was targeted exclusively to cardholders within one of the bank’s most premium portfolios: Chase Sapphire. 

The team crafted a campaign offer construct with a minimum spending requirement, betting that customers would make higher-ticket purchases. In addition, Chase Media Solutions leveraged proprietary transaction data to implement tracking that would allow Solo to measure performance between both new and existing customers. They then deployed the campaign across Chase's owned digital channels.

"The ability to target high-value consumers, like Sapphire cardholders, and segment based on spending patterns is incredibly valuable," Jenna Posner, chief digital officer at Solo Brands, said in the case study. "It’s become an essential part of our marketing strategy.”

Regarding Air Canada’s initial campaign, Scott O’Leary, vice president of loyalty and product for the airline said, “The Chase team succeeded in creating a thoughtful, targeted offer that exceeded our expectations. Two distinct offer constructs drove incremental revenue and awareness for Air Canada amongst Chase’s cardmember base. These tests clearly demonstrated the potential of the Chase Media Solutions channel, and we look forward to working together more in the future.”