Chase announced it has launched a digital media business called Chase Media Solutions. This service will allow brands to connect with the financial institution’s 80 million customers.
Chase Media Solutions is a conduit for brands by connecting them with consumers’ interests. Chase customers benefit from personalized offers and the ability to earn cash back with brands they love or are discovering for the first time.
As a bank-led media platform, Chase Media Solutions combines the scale and audience of a retail media network with the exclusive advantages of Chase’s first-party financial data, institutional credibility, and precise targeting capabilities. The bank’s large consumer base and 6 million small business customers benefit from Chase’s travel, dining, and shopping offerings.
Chase Media Solutions’ launch follows the integration of Figg, a leading card-linked marketing platform. JPMorgan Chase bought Figg in 2022 as a natural step in its effort to build out its two-sided commerce platform.
Chase Media Solutions platform advantages:
1.) First-party data – Through Chase’s owned transaction data, brands, and agencies can precisely target customers at scale based on purchase history (such as targeting new, lapsed, or loyal customers)
2.) Better ROI and attribution – Brands capture incremental spending on everyday purchases in-store and online with clear attribution for every media dollar spent
3.) Trust and brand safety – This platform is built on the foundational trust and institutional credibility of Chase, including a verified audience and brand-safe owned channels
Among the initial pilot partners, Chase Media Solutions created 30-day campaigns for Air Canada, Solo Stove, Blue Bottle, and Whataburger, driving significant traction for those brands in terms of incremental sales and new customer growth.
KEY QUOTES:
“Our deep understanding of consumer spending across categories has driven us to reimagine what retail media networks can offer. 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.”
– Rich Muhlstock, President of Chase Media Solutions
“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.”
– Scott O’Leary, Vice President of Loyalty and Product for Air Canada
