Chase for Business expands customer insights tool to support small business growth

Author: ASBN Newsroom

Chase for Business has expanded its Customer Insights tool, a data-driven platform designed to help small business owners make smarter, more strategic decisions.

Previously available only to Chase Payment Solutions clients, this tool is now accessible at no extra cost to nearly five million small businesses with Chase business checking accounts. The platform offers valuable data insights that can enhance marketing efforts, optimize operational efficiency, and improve customer engagement, all while respecting customer privacy.

Ben Walter, CEO of Chase for Business, said, “Customer Insights is an innovative solution to help businesses operate more efficiently and reach customers in ways they could not before.” He added, “Our goal is to deliver value and expertise to our small business clients that go beyond our industry-leading, core banking services.”

The Customer Insights tool harnesses anonymized card transaction data and third-party benchmarking to give small business owners a comprehensive customer behavior analysis. The platform covers several key areas that allow business owners to track sales, understand customer demographics, and gain insights into purchasing behavior.

Key features of the tool include:

• Sales Tracking: Business owners can monitor daily card sales and track historical trends over the past six months or year-over-year, with insights into new versus repeat customer metrics.
• Customer Demographics: The platform offers demographic data, such as age, gender, and income, for businesses’ top-performing markets, helping owners better understand their target customer base.
• Purchasing Behavior: The tool provides insights into customer spending patterns, preferred purchase times, and channel preferences (online vs. in-store), enabling businesses to optimize their strategies.
• Top Markets Analysis: The platform identifies top customers’ geographic concentration and purchasing preferences, allowing business owners to refine marketing strategies and choose optimal growth locations.

By leveraging these insights, small business owners can tailor marketing campaigns to attract new customers, enhance customer retention strategies, and make more informed decisions. For example, the tool may suggest creating targeted campaigns for businesses with high repeat visitor rates or recommend marketing strategies in regions where competitors perform well.

This expansion of the Customer Insights tool reinforces Chase’s commitment to providing small businesses with actionable data that helps drive success. To learn more about how the platform can support strategic decision-making, business owners can visit Chase’s website for additional details.