Chase launches ‘Media Solutions’ leveraging banking customer data for targeted in-app advertising

Chase has launched Chase Media Solutions, a new digital media platform enabling brands to engage directly with the financial institution’s vast customer base of 80 million. Using the Media Solutions, retailers will craft tailored promotions aimed at boosting customer acquisition and sales. These targeted offers will be showcased to customers when they access the Chase banking app. 

Chase stated that leveraging its proprietary transaction data, brands and agencies can effectively target customers on a large scale, tailoring their approach based on purchase history, including targeting new, lapsed, or loyal customers with precision. Brands will be able to track additional spending on daily purchases, both in physical stores and online, ensuring clear attribution for each dollar invested in media.

“Our deep understanding of consumer spending across categories has driven us to reimagine what retail media networks can offer,” said Rich Muhlstock, President of Chase Media Solutions. “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’ introduction comes after integrating Figg, a top-tier card-linked marketing platform. JPMorgan Chase & Co. acquired Figg in 2022 as part of its strategic initiative to expand its proprietary, dual-sided commerce platform. 

Among the initial pilot partners, Chase Media Solutions curated 30-day campaigns for Air Canada, Solo Stove, Blue Bottle, and Whataburger. Scott O’Leary, Vice President of Loyalty and Product at Air Canada, expressed satisfaction with the initial campaign’s success, stating, “The Chase team crafted a targeted offer that surpassed our expectations. Through two distinct offer structures, we observed increased revenue and heightened awareness for Air Canada among Chase’s cardmember base. These trials underscore the potential of the Chase Media Solutions platform, and we eagerly anticipate further collaboration in the future.”

The reason Chase aims to establish itself as a retail media network is the immense opportunity it presents to issuers. Global forecasts project retail media ad spending to reach $140.04 billion in 2024, showing a robust year-over-year growth of 21.8%. While retailers typically possess limited insights into their customers’ spending behaviors, credit card issuers like Chase possess extensive first-party data, including spending patterns and implied interests. This wealth of data provides banks with a distinct advantage over other retail media networks.

Written by Maya Robertson


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