JPMorgan Chase & Co. has long maintained its status as one of the banking category’s biggest sponsors and in 2011 created an enterprise-wide sponsorship department charged with developing strategy and activation programs across the company’s vast portfolio.

The department oversees a portfolio that includes ties inherited from mergers and acquisitions over the past two decades. Deals include the J.P. Morgan Corporate Challenge Series (Manufacturers Hanover), WaMu Theater at Madison Square Garden (Washington Mutual), Sundance Film Festival (First USA) and Chase Field and the Chicago Bears (Bank One).

Below, Steve Pamon, JPMC head of sports & entertainment marketing, discusses how the banking giant uses sponsorship to create brand envy and other topics.

Below are edited excerpts from his comments.

On JPMC’s sponsorship objectives
What we want to accomplish from sponsorship is no different than any other brand. First, we want to provide an experience for consumers to live, breath, touch and interact with our products and services in a way that moves beyond digital advertising or TV commercials.

Second, we want to provide a true reason, a very explicit reason, why you do business with JPMorgan Chase versus a competitor. That may be preferential treatment, a ticket onsale or hospitality. We want to give people affirmation on why they choose Chase.

We also want to create envy among people that don’t have experience with our brand. If you’re a fan of a team, or love to attend a specific event, we want you to say “Why not Chase? The company gives me an advantage, and their brand is something that I want to be associated with.”

The forth reason for our sponsorship activity is often overlooked: it’s part of our civic duty to support events that are near and dear to the local community and that provide an economic boon to the local population.

On JPMC’s 360-degree approach to sponsorship
We have changed our approach to sponsorship as consumers have changed. Consumption of events goes beyond the time an event starts and finishes. At the US Open we have a presence digitally, in the community, in social media, on TV and at the venue itself. Our strategy is audience-centric, not property-centric.

On JPMC’s activation strategy
We approach activation as the core of what we do. We don’t manage each property individually—we manage activation as a collective portfolio. Early access for tickets, in-venue discounts and community programs are standard benefits across the board.

My overarching goal is to make sure there is a standard set of activation programs that consumers can depend on.

Each audience member deserves something special and unique. It’s all about the experience—people don’t remember an event, they remember how people made them feel. A photo from a photo booth or a hat giveaway makes an event last far beyond the few hours you’re there.

On the technology front, the thing we’re most excited about is the change in the way you pay for events. We leveraged our partnership with the Orlando Magic to make the Amway Center the first NBA area to accept Apple Pay. The point-of-sale system is going into the next evolution of commerce, which will reduce wait time, reduce fraud and enable us to offer personalized experiences.

On JPMC’s growing involvement in music
What we’re doing in music is a natural maturation of looking at consumers in the broadest mindset possible. Just because someone is a fan of the New York Knicks doesn’t mean they wouldn’t like to see Billy Joel the next day.

We don’t look at music as a completely different segment—it’s an evolution of our marketing strategy. If you’re a customer we want to be where you are, support what you like and give you a reason to bank with us.

It’s been eye-opening to expand into music. Not because music is different, but because a lot of it is really the same as other types of properties.

We try to diversify our participation in sports, and we take the same approach to music. We sponsor the Jingle Ball at Madison Square Garden, iHeartRadio Fiesta Latina at The Forum, tours like Jay-Z and Beyoncẻ, and cause-related marketing like the Concert for Valor and the Concert for Sandy Relief.

Diversification is not something that we should be patted on the back for. It’s how people consume music via downloads, streaming and live events.

On sponsorship trends in 2015
We’re going to see a flight to quality versus quantity. We’ll see brands have a smaller number of large deals and deep partnerships as opposed to a sprawling portfolio of very minor relationships.

The Top Five Spenders In The Banking Category
The Top Five Spenders In The Banking Category