Business Banking
Chase For Business Expands Business Intelligence and Analytics Tool to Nearly Five Million Small Businesses
The Customer Insights tool helps Chase for Business clients run more efficiently and reach their customers in an impactful way at no additional cost
New York, NY – October 30, 2024 – Chase for Business, a leading financial services provider for small businesses, today announced the expansion of Customer Insights1, an interactive business intelligence platform that uses the power of data and analytics to deliver actionable insights to help small businesses grow. Following a successful launch to Chase Payment SolutionsSM 2 clients, the platform is now available to Chase business checking accounts at no additional cost, providing game-changing industry insights to nearly five million small business owners.
Customer Insights provides a comprehensive analysis of customer behaviors through anonymized data from card transactions at the business owner’s establishment and peer benchmarking from third-party sources. These data-driven insights help owners make smarter decisions, refine marketing strategies, and streamline operations. All insights are based on aggregated, anonymized data to protect consumers’ identities and personal information. When small businesses accept card payments through Chase, they can unlock even deeper insights and analytics specific to their business operations.
“Customer Insights is an innovative solution to help businesses operate more efficiently and reach customers in ways they could not before,” said Ben Walter, CEO of Chase for Business. “Our goal is to deliver value and expertise to our small business clients that goes beyond our industry-leading, core banking services.”
Customer Insights generates robust analytics across key areas, including:
- Keep an Eye on Sales – Track daily card sales and historical trends over the last six months and year over year, including for new and repeat customers.
- Get to Know Potential Customers – Understand demographic trends, such as age, gender, and income in top performing markets.
- Learn How Customers Shop – Explore an all-in-one view of customer purchasing habits, including spend, purchase time, and channel (online vs. in-store).
- Gain Insights on Top Markets – Learn more about the geographic concentration of top customers and their purchase preferences to help inform marketing strategy and site selections.
Customer Insights helps small business owners make educated business decisions based on customer behaviors. For example, Customer Insights might recommend that a small business with a high degree of repeat customer visits consider launching a campaign to attract new customers. The platform could also recommend a targeted marketing campaign based on concentrated locations where industry peers are active and where the business may have an opportunity to increase sales. Learn more about how Customer Insights help small businesses make better strategic decisions here.
Client Testimonials on Customer Insights3
“Customer Insights has been an absolute godsend,” says Cullen Fuller, co-owner of Meredith Jaye and M and Em’s boutiques in Chicago. “It has helped us define who our customer is, makes me more money, drives positive margins – and it is [at no additional cost].”
“Before Customer Insights, I would just target my social media campaigns for 35 miles around my store,” says Terica Gatewood, co-owner of Play It Again Sports in Topeka, Kansas. “Having [the locations] of frequent customers, I can focus my marketing and make my budget go further. It also helps me validate the effectiveness of my campaign and benchmark against my marketing agency reports.”
Clients can easily access Customer Insights anytime, anywhere through their Chase for Business profile on the Chase Mobile®4 app and desktop. It’s one of many ways Chase for Business is creating solutions designed for the unique needs of small business owners. Chase recently launched Invoicing for Chase Business clients, providing them with a convenient way to bill customers, get paid faster with QuickAccept®5, and keep a pulse on their receivables. Invoicing is now available to nearly three million small business owners via the mobile app and desktop. In addition, Chase offers a simplified payroll management system to its Chase Payment Solutions clients in partnership with Gusto.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States of America with assets of $4.2 trillion and operations worldwide. Chase serves 84 million consumers and 6.9 million small businesses, with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: More than 4,800 branches in 48 states and the District of Columbia, more than 15,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
Media Contact:
Chaffon.Davis@chase.com
JPMorgan Chase Bank, N.A. Member FDIC
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