JPMorgan Chase’s David Pinto-Carpenter on redefining media buying for a 225-year-old banking giant

JPMorgan Chase's David Pinto-Carpenter shares how the banking giant is adapting to changing consumer expectations for financial services, what he thinks is holding back more investment in CTV and why he’s comfortable not being a first mover.

 

Episode Transcript

Please note, this transcript  may contain minor inconsistencies compared to the episode audio.

 

Damian (00:00):

I'm Damian Fowler.

Ilyse (00:02):

And I'm Ilyse Liffreing.

Damian (00:03):

And welcome to this edition of The Current Podcast.

Ilyse (00:10):

This week we're delighted to talk with David Pinto-Carpenter, the managing director of Media Strategy and Insights at JPMorgan Chase.

Damian (00:19):

Now over 225 years old and is situated across 100 global markets. JPMorgan Chase is one of the world's most respected financial institutions, and for the second consecutive year, fortune ranked JPMorgan Chase, the fifth most admired company in the world.

Ilyse (00:35):

After 10 years of agency life, David moved over to JPMC where he's focused on how the company invests in its digital marketing strategy to stay current with the fast moving media environment.

Damian (00:48):

We start by asking David about how his agency life informed his thinking at JPMorgan Chase

Ilyse (00:55):

After having spent nearly 10 years on the agency side of media. What inspired you to move over to the brand side and how has that experience kind of shaped your approach at JPMorgan Chase?

David (01:10):

Right, so well, that really ages me, so appreciate that. But I think I've always been interested in two sides of media. One is how media can influence consumer behavior and also how media can move business. And I think it's a bit hard to get a real accurate answer of how media moves business when you don't see the other side of the business. So agencies are, there's always typically a gap between clients and agency in terms of information sharing, what can be passed back and forth. So I was fortunate enough to, as my last agency assignment work on the Truth Initiative, which is a

(01:48):

Youth pro non-smoking nonprofit, and they were very open with their information. Essentially we're all working on a common cause. The cause is maybe the only thing in marketing where you actually save lives and therefore our information is your information, whatever can make us better, we'll do it. My clients gave us access to their web analytic platform. We had a full understanding of their tagging infrastructure and which actions were scored higher and lower and where we were trying to drive people and how people were traversing across the funnel as well as their data management platform. How do we create audiences? How do we collect data on an ad impression? How do we ultimately transform that into groups that we can use to target better? And for Truth, they're trying to reach 13 to 24 year olds with the message they don't want to hear. The hardest thing to get in action, and their action is to sign people up for advocacy.

(02:40):

I was able to see front and back everything that's happening and be able to use that to build tools and capabilities that allow us to model forward outcomes. We're basically able to say, okay, now we can not only project how much the outcome will cost, but also we can anticipate how people will respond to the ads as we put them out into market, and that included creative, that included everything else. We were able to reduce th