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Gen-Z Opps: JPMorgan's first multi-channel campaign in over a year targets a new audience (Score 66)

Update: With its latest ad campaign, Swift. JPMorgan hopes the ads will reach over 30m US consumers via TV, video, social, audio and digital display.

JPMorgan's leaders reportedly hope to double the number of deposit clients who use the company's wealth management unit to invest; however, they did not provide a timeline.

The company usually targets Gen-X and millennial men, particularly dads, but remember this new initiative was made to reach Gen-Z. Thus, JPMorgan may expand into additional digital channels (i.e. OTT and/or podcast) soon. Its new campaign consists of TV, video, social, audio and digital display content; JPMorgan also utilizes OOH, print, radio and local broadcast, according to kantar data.

Read more details regarding the company's recent spend in the article below.

Agency & martech readers - Dipti Kachru seems to have stepped up to handle the marketing responsibilities in the absence of former CMO Leslie Gillin (more below); JPMorgan may still be seeking a new CMO, though. We are working hard to confirm whether or not the company is working with Swift on an AOR basis; if so, your chances are even higher of securing other kinds of work. JPMorgan Dentsu, so you'll have the best luck securing PR, digital analytics and/or social media management partnerships.

The article below was originally published on March 24:

JPMorgan Chase announced CMO Leslie Gillin is stepping down. Gillin joined the company in 2017 as co-brand cards president, and was promoted to CMO in January 2020. She served as Citi's CMO prior to joining JPMorgan. I am not sure of her official departure date or her future plans. The company has not announced a replacement yet either. Keep an eye on this company as Gillin's replacement will affect the marketing strategy and could review the agency roster. 

According to Pathmatics, JPMorgan earned 11.2b impressions through desktop display ads (72%), Facebook ads (12%), desktop video ads (9%), mobile video ads (3%), Twitter ads (2%), Instagram ads (2%) and mobile display ads (1%). It placed the majority (68% through a variety of indirect channels onto sites such as yahoo.com, finance.yahoo.com, sports.yahoo.com, news.yahoo.com and brainly.com. It placed the remainder (32%) site direct onto sites such as facebook.com, youtube.com, flyertalk.com, twitter.com and instagram.com. It spent around $36.3m on digital display ads YTD, a significant increase from $11.4m spent during the same time period of 2020. Full-year spend increased 2% from $72.8m in 2019 to $74.6m in 2020. 

Per iSpot, JPMorgan Banking spent around $20.2m on national TV ads YTD, down 62% from $32.7m spent during the same time period of 2020. Spend totaled $115.3m in 2020, a significant jump from $60.5m spent in 2019. It placed ads during programming such as "NFL Football," "Two and a Half Men," "Wheel of Fortune," "Entertainment Tonight" and "College Basketball." 

iSpot also reports JPMorgan's credit card business spent $19.8m on national TV ads so far this year, a 29% increase from $15.4m spent during the same time period of 2020. Full-year spend equaled $55.7m in 2020, a 32% increase from $37.6m in 2019. In 2020, it placed ads during programming such as "NFL Football," "ABC World News Tonight With David Muir," "College Football," CBS This Morning" and "NCIS." 

Sellers-- JPMorgan mainly targets Gen-X and millennial men (dads) through digital display and national TV ads. The company has increased digital display spend so far this year, as well as credit card national TV spend. It decreased national TV spend for its banking business, although it increased YOY in 2020. JPMorgan also invests in OOH, print, radio and local broadcast TV ads, per Kantar. Sellers should reach out offering relevant ad space. Keep in mind, these strategies may change once the company hires a new CMO. 

Agency & martech readers-- JPMorgan recently Droga5 on creative with an in-house digital media team. Start preparing your pitches and be ready to reach out once this company finds a new CMO.