JPMorgan may be taking over your Snapchat feed this weekend — here's why
You may notice JPMorgan Chase taking over your Snapchat feed this weekend — that is, if you're anywhere near a college campus.
The bank is rolling out a massive campaign to honor college graduates around the country. It's part of a plan to help recruit them as employees.
"You have to reach people where they are, and they're on Snapchat," JPMorgan's chief marketing officer, Kristin Lemkau, said.
"And students in particular are living on Snapchat. It's becoming one of the most powerful platforms for brands."
It's the largest themed ad buy on Snapchat, according to the firm.
Starting Sunday, you'll see JPMorgan ads on Snapchat's "Graduation Live Story" as well as on 80 different campus stories and several Discover channels. They'll run until mid-June.
The idea, according to the firm, is to reach students on a day when they are thinking about their next steps.
The 10-second ads will showcase students' various skills that could be applicable to a job at the bank.
Separately, a geofilter ran on Friday on campuses around the country, reading "Congrats Class of 2016!"
Investment banks are turning to increasingly creative ways to remain attractive career choices for millennial employees.
(Heather Ainsworth/AP Images for Syracuse University)
Citigroup, for example, is giving junior staff the opportunity to take a year off and do charitable work while still earning 60% of their pay. A second initiative will let junior bankers spend four weeks in Kenya running a micro-finance project.
The banks are also rewarding top performers by fast-tracking them to promotions and encouraging mobility between departments and cities. In the past six months, Goldman Sachs, JPMorgan, Credit Suisse, Citi, and Bank of America Merrill Lynch have rolled out programs in that vein.
And when it comes to college students, Goldman Sachs in September ran a Snapchat ad campaign as part of a campus-recruiting effort.
JPMorgan also has spent millions of dollars on advertising to attract and retain millennials as customers.
"Advertising is changing very quickly from ads that are interrupting your experience to ones that are permission-based," Lemkau said.
"The user is much more in-control and opting in — think of what Google and Facebook have done — you can select or scroll past if you don't like it. A geofilter is following that permission format."
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