JPMorgan Chase launched a new digital media business that would allow advertisers to target the Wall Street bank’s 80 million customers based on their spending data. The platform, called Chase Media Solutions, combines the scale of a retail media network with Chase-owned transaction data, enabling precise targeting of customers for brands.
Leveraging Customer Data and Scale
The launch of Chase Media Solutions marks JPMorgan’s entry into the digital media advertising space. The platform utilizes the bank’s vast customer base and their spending data to offer advertisers a unique opportunity to precisely target potential customers based on their transaction history and behavior.
Initial Pilot Campaigns
Chase Media has designed 30-day campaigns for its initial pilot partners, including specialty coffee roaster Blue Bottle Coffee, fast food restaurant chain Whataburger, and budget airline Air Canada. These early partnerships will test the platform’s capabilities and pave the way for future expansion.
Acquisition-Driven Strategy
JPMorgan’s foray into digital media advertising follows its acquisition of card-linking marketing platform Figg in 2021. The acquisition provided the bank with the necessary technology and expertise to leverage its customer data for targeted advertising initiatives.
Diversifying Revenue Streams
While JPMorgan Chase is primarily known as a financial services giant, the launch of Chase Media Solutions represents a strategic move to diversify its revenue streams. By capitalizing on its extensive customer base and transaction data, the bank aims to capture a share of the lucrative digital advertising market.
