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JPMorgan's new chief media officer reveals how the company developed a scorecard to adjust its advertising during the coronavirus

FILE PHOTO: JPMorgan Chase CEO Jamie Dimon speaks at the North America's Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon
    • JPMorgan Chase named Tracy-Ann Lim as its new chief media officer, overseeing the company's media strategy and so-called brand safety effort.
    • Advertisers are adapting their marketing amid the pandemic, and Lim said that JPMorgan Chase developed a scorecard to assess the placement, timing, audience, message, offer, and customer journey of its ads.
    • She also said the bank is advertising more on streaming content and desktop as audiences spend more time there.
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JPMorgan Chase has named Tracy-Ann Lim as its new chief media officer, from executive director and head of media.
Lim's appointment follows JPMorgan Chase appointing Leslie Gillin as its new CMO in January 2020, after its longtime CMO Kristin Lemkau was named CEO of the firm's US wealth management division. Lim reports to Gillin and succeeds Andrew Knott, who left in late 2019 for Publicis Groupe.
image001 (2)Advertisers are adapting their marketing as consumers stay home during the coronavirus pandemic and non-essential businesses stay closed, with some slashing their budgets by as much as 50%.
JPMorgan Chase, which spends upwards of $5 billion on marketing and has taken more of its media in-house in recent years, is no different, Lim told Business Insider.

JPMorgan Chase built an internal scorecard to assess its ad campaigns amid the coronavirus

Lim said that JPMorgan Chase developed a scorecard to assess its ads across all its divisions on criteria like placement, timing, audience and message. The scores determined whether the ads ran in settings the bank considered appropriate for its brand.
This work resulted in the company pausing some lifestyle-oriented campaigns to avoid seeming insensitive to how the coronavirus was impacting people.
"Our belief in having expertise at the center of the firm was validated during this crisis because we needed one view of every single message that we were putting out into the world and were able to quickly study and audit everything," Lim said. "What was in the message? Where is it going? What's it sitting alongside and how might the world react now?"
In assessing where ads were running, the bank didn't blacklist any news sites, Lim said.
"Pulling out from news as a finance brand in the middle of a crisis with financial implications for people isn't the right thing to do in our view," she said. "We haven't walked away from content that is COVID-related because it is hijacking a disproportionate amount of the content today."

The company also produced new ads that speak to the times

Lim said the company also produced ads that directly spoke to the coronavirus crisis, like one featuring wealth management advisors working from home and another called "Show Me Your Walk," a virtual commencement celebration for college students featuring Kevin Hart, Serena Williams and Stephen Curry.
JPMorgan Chase has shifted ad spending to places its audience is spending time during the crisis, including on streaming content and desktop as opposed to mobile, for example, she said.
She said the bank was able to respond quickly because it revamped its media team in the past year.
Lim, who spent most of her career at agencies such as MediaVest (now Starcom), Initiative, Carat, and Media Assembly, also said the bank has encouraged its ad agencies to move faster.
"We're now in a working dynamic where they're just as comfortable throwing [an idea] on a whiteboard and taking a picture and texting it to me or getting on the phone and scrumming on a topic if it's something that we need to move on quickly, rather than waiting a week to make a beautiful PowerPoint presentation," she said.
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Source
https://www.businessinsider.com/jpmorgan-chase-named-tracy-ann-lim-as-chief-media-officer-2020-4?IR=T


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