Chase for Business, a leading financial services provider for small businesses, has announced the expansion of Customer Insights, 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 2clients, 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.