WEBVTT

1
00:00:00.120 --> 00:00:02.670
- Chase Bank is launching
a new retail media platform

2
00:00:02.670 --> 00:00:04.470
that allows brands to market directly

3
00:00:04.470 --> 00:00:07.260
to its 80 million customers
using data on their

4
00:00:07.260 --> 00:00:08.550
spending habits.

5
00:00:08.550 --> 00:00:11.010
Through the newly minted
Chase media solutions,

6
00:00:11.010 --> 00:00:12.990
businesses will be able to target users

7
00:00:12.990 --> 00:00:14.315
with personalized offers

8
00:00:14.315 --> 00:00:17.460
and provide incentives like
cash back, using customers,

9
00:00:17.460 --> 00:00:18.990
transaction data brands,

10
00:00:18.990 --> 00:00:22.110
and advertising agencies can
precisely target customers at

11
00:00:22.110 --> 00:00:25.110
scale based on purchase
history, by advertising

12
00:00:25.110 --> 00:00:28.500
to new lapsed or loyal
customers differently.

13
00:00:28.500 --> 00:00:29.975
Rich Mulstock, president

14
00:00:29.975 --> 00:00:32.940
of Chase Media Solutions
said like retailers,

15
00:00:32.940 --> 00:00:35.760
we have first party data
and a dedicated audience.

16
00:00:35.760 --> 00:00:38.250
But what sets us apart
is the unrivaled scale

17
00:00:38.250 --> 00:00:41.400
and insights from our
customers having long served

18
00:00:41.400 --> 00:00:44.670
as a trusted guide for
their financial decisions.

19
00:00:44.670 --> 00:00:47.400
The bank is hoping to combine
insights from its customers

20
00:00:47.400 --> 00:00:49.440
and 6 million small business customers

21
00:00:49.440 --> 00:00:52.080
to build out its own
two-sided commerce platform

22
00:00:52.080 --> 00:00:54.360
and bring in benefits
to both business clients

23
00:00:54.360 --> 00:00:56.100
and banking customers.

24
00:00:56.100 --> 00:00:58.590
Chase Media Solutions
follows from the integration

25
00:00:58.590 --> 00:01:01.920
of card linked marketing platform
fig, which JP Morgan Chase

26
00:01:01.920 --> 00:01:03.600
and co acquired in 2022.

27
00:01:04.860 --> 00:01:07.740
Retail media networks like
Chase Media Solutions are a form

28
00:01:07.740 --> 00:01:10.920
of advertising platform that
gives retailers the ability

29
00:01:10.920 --> 00:01:13.410
to sell off ad space on
their digital channels to

30
00:01:13.410 --> 00:01:14.790
outside brands.

31
00:01:14.790 --> 00:01:15.900
Chase is joining the ranks

32
00:01:15.900 --> 00:01:17.790
of other major players in retail media,

33
00:01:17.790 --> 00:01:21.180
including Amazon advertising
and Walmart Connect.

34
00:01:21.180 --> 00:01:23.975
The bank said it piloted the
platform in 30 day campaigns

35
00:01:23.975 --> 00:01:27.780
for Air Canada, blue Bottle,
Whataburger, and Solo Stove,

36
00:01:27.780 --> 00:01:30.305
and saw significant
traction in driving sales

37
00:01:30.305 --> 00:01:31.920
and new customer growth.

38
00:01:31.920 --> 00:01:34.560
Thanks for watching.
Check out qz.com for more.