Modern Marketing

Chase is streaming concerts on its Facebook page

  • Chase Bank will be streaming portions of a live concert on Facebook as a means to draw customers into other bank services
  • Chase is jumping on a trend towards live video marketing, but is treading cautiously with financial advisory content
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Chase is streaming concerts on its Facebook page

This weekend, you may be able to watch an Eric Clapton concert on Facebook, thanks to Chase Bank.

The bank plans to stream the concert, which it is sponsoring in Los Angeles, on its page, which has 3.7 million likes and 3.9 million followers.

The bank said it’s a way to engage its customers beyond just millennials. By offering fun and engaging live content, the company hopes it can direct traffic back to its products and services.

“You could say it’s a millennials play, but honestly at this point in time, everyone’s on social [media], so it’s a mass consumer play,” said Jess Purdy, the bank’s head of social media.

Chase has been working with video as a marketing tool for some time, featuring interviews with prominent personalities with media partners; for example, the bank recently did an interview with Serena Williams in conjunction with Uninterrupted. It’s also posting social videos of events unrelated to banking, such as New York Fashion Week last week, which gained over 9,000 views.

Chase is still in an experimental phase with live video, a medium Purdy said has potential, but harder to manage given technical requirements and the need for live moderation of comments. If live video events generate enough interest, the bank is interested in growing its livestreamed event offerings, including on-site interviews.

Finance companies are increasingly looking to live video as a marketing tool ,a means to connect with customers in an authentic, personal way. Many brands, including T. Rowe Price and Charles Schwab have taken an active role in pushing live financial advisory content. While Chase is interested in this, it’s treading carefully for now. “It’s perhaps something we’re looking into but trying to figure out a compliant way to go about it.”

Photo credit: Wikimedia Commons / Majvdl

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