NEW YORK: Chase, the financial services provider, has successfully developed a test-and-learn marketing culture – in part by building a closer connection between its brand and analytics functions.
Susan Canavari, Chase's Chief Brand Officer, discussed this subject at the 4A's (American Association of Advertising Agencies) Data Summit 2016.
"We want to be disruptors; we want to try new things," she said. (For more, including further details of the brand's integrated approach, read Warc's exclusive report: Why Chase insists on marrying marketing with analytics.)
And pursuing such an agenda, she added, requires the ability to rapidly adapt if initial plans do not make the desired impact: "So, there are disappointments and there is learning. We try to turn it around and make all of our work better."
One key contributor to achieving that goal has been in-house attempts – implemented over the last 18 months or so – to ensure Chase's brand and analytics teams are working more closely together.
"Analysts, by their very nature, are very comfortable with the idea of test and learn – or some people would call it failure. For us, that's natural. We know sometimes we fail, we learn," said Sandra Nudelman, Chase's SVP/Head of Customer & Marketing Analytics.
"That's something that, as marketers are increasingly accountable across all channels, that's new to them. And we have to help them learn that, 'Hey, you know what? We failed, but that's awesome. Because we know never to do that again. We'll go and try something else.'"
An important strategic choice supporting this transition has been "organising for success" by narrowing the structural gap between these two functions.
"We both actually report to the Chief Marketing Officer for JPMorgan Chase, so we're both responsible for the marketing success of Chase," Canavari said.
"As such, we know what that the priorities are from James Dimon, our CEO, and those trickle down to our marketing priorities and … [we] share those marketing responsibilities. So when we look at what we need to do for the year, we have collective goals."
Coupled with this organisational shift is an attitudinal determination to achieve the same end: "It's really thinking of yourself as one marketing team, and not necessarily as a brand team and an analytics team," Canavari said.
Data sourced from Warc