JPMorgan Chase has introduced a new business known as Chase Media Solutions, which will enable marketers and advertisers to target customers based on their spending data. This innovative venture will utilize the data collected from the banking giant’s 80 million clients to connect brands with consumers’ personal interests and passions. The president of the new firm, Rich Muhlstock, highlights the unique advantage of Chase’s first-party data and dedicated audience in delivering personalized offers that resonate with consumer interests.
Through the acquisition of Figg, a card-linked marketing platform, in 2022, JPMorgan Chase & Co. has laid the foundation for its latest initiative. Chase Media Solutions aims to provide brands and agencies with the ability to precisely target customers at scale using transaction data owned by Chase. The company has already conducted a successful pilot program with major corporations like Air Canada, Solo Stove, Blue Bottle, and Whataburger, resulting in significant traction and growth in customers. Chase’s vision of delivering “win-win value” to its business clients and banking customers drives the creation of this new company.
By leveraging its extensive reach, unique insights, and comprehensive view of purchase behavior, Chase Media Solutions effectively facilitates the connection between brands and consumers. This strategic initiative enables brands to engage with customers based on their purchase history, whether they are new, lapsed, or loyal. With a focus on enhancing personalized marketing efforts, Chase Media Solutions represents a significant step towards achieving Chase’s goal of providing value to both its business partners and banking customers.