JPMorgan Chase has announced a five-year, enterprise-wide partnership with Persado, an AI-tool firm.
Following a pilot, Chase is expanding the partnership across the entire company to cover marketing creative.
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Utilising Persado and its AI tools, Chase witnessed as high as a 450% life in click-through rates on ads. In comparison, according to Persado, others only got to between 50-200%.
In 2016, Chase worked with Persado’s Message Machine, as advanced marketing language knowledge base of more than one million takes and scored words and phrases.
Utilising the tool, Chase redrafted marketing messages in its card and mortgages businesses. Both saw a significant lift.
“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 judgement 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.”
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By GlobalData“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 utilising 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.”
“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 recognised 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 omnichannel personalisation in 2020 as we redefine the future of marketing together.”
Currently, Persado has more than 250 partnership[s with CMOs and marketers.
