JP Morgan has entered the ad sales market with its latest venture, Chase Media Solutions, which will look to help brands better target the financial services firm’s customers.
The move will see the New York-based firm foray into the advertising business for the very first time, helping clients target specific campaigns based on the spending history of the bank’s customers.
JP Morgan’s unprecedented step will see it join the likes of Walmart, Uber and Marriott International who have all made similar moves to convert user data into advertising revenue over the past few years.
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This could prove especially significant as the marketing and advertising world transitions into the post third-party cookie era, where first-party customer data will become vital for targeting.
Through JP Morgan’s new venture, brands will be able to target specific cohorts of customers with deals and discounts via the Chase Offers programme. Advertisers will not have direct access to customer data.
Chase cardholders will only see offers when they log in to the Chase offers app and will be able to choose which ones they activate. They will not be targeted with products that they have no purchasing history for.
