Innovation In Market Research Drives Winning Messaging Campaigns

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Large-scale study to test messaging upside for #1 bank in America.

Leadings brands in many industries are transforming the way they develop and test messaging for marketing campaigns. Best-in-class marketers are reducing their dependence on creative genius and optimizing their messaging campaigns with science and algorithms to test 100s of messages in research and explore billions of campaign ideas. Is retail banking falling behind on messaging innovation?

Setting up the bank messaging challenge

To explore the opportunity with bank marketers, Newristics recently conducted a large-scale market research study using messaging from the #1 bank – JP Morgan Chase.

The study was set up as an ultimate messaging challenge:

Can a new approach to developing and testing messages outperform the messaging effectiveness of the #1 bank in the country…without any input from their marketing team?

Results: Banks have potential to improve messaging by 30%-50%.

Using decision heuristics science and AI in message testing resulted in 100% success rate – every message bundle generated by CMO was superior to the in-market messaging campaign used by Chase.

New message bundles identified through CMO had 30%-50% higher preference share than Chase in-market messaging across all campaign types.

How was bank messaging improved by 30%-50%?

Better and more messaging ideas – Behavioral science was used to rapidly create new messages for Chase bank (350+ new messages generated in 5 days).
Turbo message testing - 400+ messages for Chase Bank were tested in a large survey with 1,000 banking customers.
The optimal channel and campaign execution strategy – AI was used to identify the winning message bundles out of 2.5 trillion possibilities
Actionable messaging insights – Behavioral science helped identify the precise language drivers of message appeal for different segments (e.g. Gen X vs. Z)