Chase recently announced the launch of a new media business called Chase Media Solutions, which will allow advertisers to target the bank’s 80 million U.S. customers based on their purchases. This platform aims to help brands connect with consumers’ personal passions and interests while also providing customers with personalized offers and opportunities to earn cash back with brands they love or are discovering for the first time. The company will only charge merchants for the service when a customer makes a purchase through a deal on the platform, offering a unique way for businesses to reach consumers.
Rich Muhlstock, president of Chase Media Solutions, stated that the platform’s deep understanding of consumer spending across categories inspired the company to reimagine what retail media networks can offer. He emphasized that Chase’s first-party data and dedicated audience, combined with the unrivaled scale and insights from its customers, set the platform apart from competitors. Chase Media Solutions, owned by JPMorgan Chase, is said to be the first bank-led platform of its kind, offering advantages such as the ability for businesses to target customers based on their purchase history, a better return on investment for advertising, and a verified audience.
Chase’s initial pilot partners, including Air Canada, Solo Stove, Blue Bottle, and Whataburger, have reportedly tried out the service with successful 30-day campaigns. The platform allows businesses to target customers based on their purchase history, providing them with a more effective way to reach their target audience and potentially increase sales. By leveraging the vast amount of data and insights available from Chase’s 80 million U.S. customers, advertisers can tailor their campaigns to meet the specific preferences and interests of consumers, leading to more personalized and engaging marketing efforts.
This approach represents a new way for advertisers to connect with consumers, offering a more targeted and personalized form of advertising that can drive better results for businesses. The ability to reach customers based on their purchase history and interests can lead to more relevant and engaging advertising campaigns that are more likely to resonate with consumers. By partnering with Chase Media Solutions, brands have the opportunity to tap into a large audience of potential customers and leverage the insights and data available to create more impactful and effective marketing strategies.
Overall, Chase Media Solutions represents an innovative and unique platform that combines the power of a bank’s data and insights with advertising opportunities for brands. By offering a way for advertisers to target customers based on their purchase history and interests, the platform provides a more personalized and effective form of advertising that can benefit both businesses and consumers. With a focus on providing value to both advertisers and customers, Chase Media Solutions aims to revolutionize the way brands connect with their target audience and drive engagement and sales through more tailored and relevant campaigns.