30th Jul, 2019
JPMorgan Chase Announces Five-Year Deal with Persado For AI-Powered Marketing Capabilities
NEW YORK – July 30, 2019 – JPMorgan Chase (NYSE: JPM) today announced a five-year, enterprise-wide deal with Persado, the leader in using AI to generate the highest performing marketing creative. After a successful pilot, Chase is expanding its partnership across the company to cover marketing creative that will reach millions of current and potential customers. Persado uses AI to generate more effective marketing copy. In its pilot, Chase saw as high as a 450% lift in click-through rates on ads rendered by Persado, compared with others in the 50-200% range.
“Machine learning is the path to more humanity in marketing,” said Kristin Lemkau, CMO of JPMorgan Chase. “Persado’s technology is incredibly promising. It rewrote copy and headlines that a marketer, using subjective judgment and their experience, likely wouldn’t have. And they worked. We think this is just the beginning. We hope to use Persado not just in marketing, but in our internal communications to make things more relevant to employees, as well as in our customer service prompts.”
In 2016, Chase began a pilot with Persado’s Message Machine, an advanced marketing language knowledge base of more than one million tagged and scored words and phrases. Through the tool, Chase redrafted marketing messages in its Card and Mortgage businesses and saw significant lift. Persado technology generates creative content using data science and AI to render copy proven to be the most compelling message to individual customers and segments of customers.
“Kristin and her team are true visionaries when it comes to adopting advancements in marketing technology, and they immediately embraced experimentation on our platform,” said Alex Vratskides, co-founder and CEO of Persado. “We founded Persado to disrupt choice of words by utilizing AI, machine learning and data. Our goal has been to create hundreds of enterprise-wide partnerships with innovative brands like Chase to help them harness the full power of words and drive meaningful communications with prospective and current customers.”
Persado has more than 250 partnerships with CMOs and marketers who are also seeing significant improvement in creative performance.
“We put Persado to the test in various channels, products and services and are highly impressed with the results,” said Abeer Bhatia, head of Marketing Growth and Innovation for Chase Card Services. “The Persado team has been a true partner every step of the way, working with us to drive measurable outcomes. Not only did they drive better marketing performance, but they created language that resonates more with our customers.”
“From our first interaction three years ago, we recognized that Chase had leaders who believe in the power of data to drive meaningful engagement with current and new customers, and who understand the potential for AI to transform their marketing,” said Yuval Efrati, Persado’s Chief Customer Officer. “We were quickly able to scale the partnership into multi-channel journeys across new launches of products and services to deliver the best experiences and value to Chase’s millions of customers. The next stage of our partnership will evolve data-driven messages from audiences and segments to individuals, creating enterprise-wide omni-channel personalization in 2020 as we redefine the future of marketing together.”
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Persado is reinventing marketing creative by applying mathematical certainty to words, the foundational DNA of Marketing. By unlocking the power of words, companies win every marketing moment, experiencing dramatic new levels of brand engagement and revenue performance. CMOs from the world’s most valuable brands rely on Persado to generate marketing creative in a dramatically new way to unlock the power of words and emotionally engage consumers, one by one, moment by moment at scale.
The Persado Message Machine uses sophisticated AI, data science, computational linguistics and machine learning to generate the perfect message for every campaign by leveraging the world’s most advanced marketing language knowledgebase of more than one million tagged and scored words and phrases. Marketers gain full visibility with quantifiable results and data-driven insights to identify the trends and marketing language that wins every moment in the customer journey while ensuring the marketing message always reinforces brand voice.