The Current Podcast: JPMorgan Chase’s David Pinto-Carpenter on Redefining Media Buying for a 225-Year-Old Banking Giant

Release Date: March 5, 2025

In this insightful episode of The Current Podcast, hosts Damian Fowler and Ilyse Liffreing engage in a comprehensive discussion with David Pinto-Carpenter, the Managing Director of Media Strategy and Insights at JPMorgan Chase (JPMC). David delves into his journey from the agency side to a leading role within one of the world's oldest and most respected financial institutions. The conversation navigates through various facets of media strategy, customer experience, and the challenges of marketing within the heavily regulated finance sector.

Transitioning from Agency to Brand Side

Agency Insights Informing JPMC’s Strategy

David begins by reflecting on his decade-long experience in media agencies and how it has profoundly influenced his approach at JPMC. He emphasizes the importance of understanding both consumer behavior and business dynamics to effectively move the needle in media strategies.

“Agencies are always, there's always typically a gap between clients and agency in terms of information sharing... we were able to use that to build tools and capabilities that allow us to model forward outcomes.”
[01:10]

David recounts his tenure with the Truth Initiative, a nonprofit focused on youth anti-smoking advocacy, where transparent information sharing enabled significant efficiency improvements, including a 20% reduction in media spend. This experience underscored the value of data-driven decision-making, which he seamlessly transferred to his role at JPMC.

Mission-Driven Marketing at JPMC

Aligning Marketing with Corporate Purpose

When discussing JPMC’s mission, David highlights how the company serves a diverse array of business units globally, each with its unique marketing ambitions. The overarching purpose, as defined by Carla (likely a senior executive), is:

“To make dreams happen for everyone, everywhere, every day.”
[05:19]

This mission drives marketing decisions, ensuring that campaigns not only aim to increase account openings or investments but also reinforce trust and showcase the positive impact JPMC has on communities and individuals.

Navigating the Regulated Finance Sector

Disciplined Media Strategy and Financial Integration

Marketing within the financial sector presents unique challenges due to stringent regulations. David outlines JPMC’s media strategy, which parallels financial planning and analysis:

“We treat our media strategy a lot more like financial planning and analysis in that we are pretty... disciplined in the way that we spend it and use the best information we have to make sure it'll be a success.”
[05:59]

Key strategies include rigorous segmentation, collaboration with finance partners to understand product financials, and a focus on measurable outcomes. This disciplined approach ensures that media investments are both effective and accountable.

Differentiating in a Competitive Banking Landscape

Enhancing Customer Experiences as a Differentiator

In a sector where product offerings (like checking or savings accounts) are largely similar across banks, JPMC distinguishes itself through superior customer experiences and lifestyle-oriented offerings.

“If you open a checking account, you open a savings account, generally speaking, those are going to be pretty similar products from bank to bank. But I think where the real race is right now in financial services is experiences.”
[07:58]

JPMC invests in exclusive travel and dining platforms, lounge expansions, and advanced customer support technologies. These initiatives aim to create memorable, “white glove” experiences that set JPMC apart from its competitors.

Audience-Centric Media Buying

Leveraging Proprietary Data with Privacy Considerations

JPMC employs an audience-first approach, utilizing proprietary data while rigorously protecting customer information. David discusses the complexities of targeting in a data-sensitive environment:

“We are getting better in our capabilities to orchestrate journeys. So I think our ambition or our desire is to be as close to one and personal as we can be given the restrictions that we have in data access.”
[10:30]

The strategy focuses on personalized targeting and journey orchestration, ensuring that marketing efforts are both effective and compliant with privacy regulations.

Integrating CTV and Digital Channels

Balancing Brand Awareness with Performance Metrics

David elaborates on JPMC’s use of Connected TV (CTV) and Digital Out-of-Home (DOOH) channels to bridge brand awareness with measurable performance outcomes:

“Our strategy has been focused on measurable outcomes since day one... we treat media in a full funnel context.”
[11:54]

Challenges such as higher costs and brand safety concerns with CTV are addressed by advocating for better transparency from publishers and leveraging brand safety technologies. The goal is to ensure that CTV investments are both effective and aligned with JPMC’s brand integrity.

Evolving Upfronts and Media Procurement

Strategic Segmentation and Flexible Buying

The podcast discusses the evolving landscape of upfront media buys, emphasizing the need for flexibility and strategic segmentation:

“We built versions of that strategic segmentation... and then flipped that same segmentation around to understand how networks and digital video packages and connected TV packages all reach these different segments.”
[17:43]

This holistic approach allows JPMC to optimize video investments by aligning media buys with targeted audience segments, ensuring that each dollar spent maximizes reach and impact.

Blending Digital and Brick-and-Mortar Approaches

Enhancing Branch Experiences in a Digital World

Despite the shift towards digital banking, JPMC maintains a strong emphasis on branch experiences as critical touchpoints:

“We view our branches as superpower... if you go into a branch and don’t have a good experience, then you also won’t have a good opinion of us.”
[19:39]

Integrating digital capabilities with in-person interactions ensures a seamless customer journey. Investments in cybersecurity and customer-facing technologies enable JPMC to offer secure and personalized services both online and in branches.

Conclusion

David Pinto-Carpenter offers a deep dive into how a storied institution like JPMorgan Chase adapts its media buying strategies to stay relevant in a fast-evolving marketplace. By leveraging agency insights, embracing a mission-driven approach, prioritizing customer experiences, and maintaining rigorous data discipline, JPMC continues to set itself apart in the competitive financial sector. The conversation underscores the importance of flexibility, measurable outcomes, and holistic strategies in modern media planning.

Notable Quotes:

• “We treat our media strategy a lot more like financial planning and analysis in that we are pretty... disciplined in the way that we spend it and use the best information we have to make sure it'll be a success.”
  — David Pinto-Carpenter [05:59]

• “If you open a checking account, you open a savings account, generally speaking, those are going to be pretty similar products from bank to bank. But I think where the real race is right now in financial services is experiences.”
  — David Pinto-Carpenter [07:58]

• “We built versions of that strategic segmentation... and then flipped that same segmentation around to understand how networks and digital video packages and connected TV packages all reach these different segments.”
  — David Pinto-Carpenter [17:43]

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