On Our Minds: Targeting Customers Based on Spending Data

Chase launched its new digital media business, Chase Media Solutions, helping advertisers target customers based on their spending habits. This new business powers transaction-based marketing campaigns that directly connect your brand with the financial institution’s 80 million customers through everyday purchases.?

Unlike traditional advertising methods, Chase Media Solutions doesn't share customer data with retailers. Instead, it collaborates with brands to create targeted offers. Brands can specify their objectives, such as acquiring new customers or increasing basket size, and Chase targets customers accordingly through its app's Chase Offers section. The bank charges retailers only when a customer makes a purchase, allowing them to directly trace sales back to their partnership with Chase. Brands can see better returns with clear attribution for every media dollar spent.

The bank-led media platform combines the scale and audience of a retail media network with the exclusive advantages of Chase’s first-party financial data, institutional credibility, including a verified audience and brand-safe owned channels, and targeting capabilities. With Chase’s owned transaction data, brands can target customers at scale based on purchase history. This includes targeting new, lapsed, or loyal customers.?

The new platform joins other major players in retail media, including Amazon Advertising and Walmart Connect, that offer advertising and cross-promotional opportunities to outside brands. In this case, instead of identifying patterns in items placed in digital shopping carts, Chase can mine their customers’ account transactions for spending habits across several industries. As a retail media platform, there may be an opportunity for Broadway shows to partner with Chase Media Solutions to target their vast customer base with personalized offers, promotions, exclusive events, or ticket discounts. This could help increase ticket sales, attract new audiences, and enhance marketing efforts for shows.

During 30-day pilot launches for partners that included Air Canada, Solo Stove, Blue Bottle, and Whataburger, brands saw promising results, driving incremental sales and new customer growth. And this is just the start for the platform. This initiative follows the integration of Figg, a card-linked marketing platform, acquired two years ago. The company’s recent acquisitions include food website The Infatuation, restaurant guide Zagat, and Frosch Travel Group, which suggests a strategic expansion into the media and travel industries. This aligns with the bank’s vision to provide value to both business clients and banking customers.

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