American Express Facebook page offers effortless discounts to cardholders
By Melissa Rudy
American Express, the company known for offering some of the best rewards credit cards, just broke new ground with a social networking campaign that delivers discounts and special offers directly to the customers who want them. This customized credit card marketing strategy is linked to AmEx's Facebook presence, and the discounts are offered only to members who sign up for them on the American Express business page.
AmEx uses Facebook to personalize special offers
American Express is the largest credit card company in the world by purchase volume, and it aims to stay that way, so this personalized marketing strategy should come as no surprise. It relies on new technology--and cutting-edge ways of using that technology--to refine cardholders' expectations and customize special offers individually, based on Facebook profiles and online preferences.
"We're running algorithms to serve up offers that are relevant to your likes, your preferences, and your friends," said Edward Gilligan, vice chairman of American Express, in an interview with Bloomberg. That means Facebook users who were already concerned about privacy may not want to take part in this promotion. On the other hand, those who aren't shy about sharing their personal details with Facebook and AmEx can take advantage of money-saving coupons tailored to their online activity.
Rewards credited automatically on monthly statement
This new AmEx marketing strategy aims to capitalize on the online markets for discounts, such as those offered by sites like LivingSocial and Groupon--but unlike these coupon sites, AmEx offers don't require the cardholder to print anything or show the offer to stores.
Customers simply make purchases and see the discounts deducted from their monthly statement. Retailers are able to track purchases made using these offers through sophisticated reporting tools that are equally effortless. It's a simple, elegant system that provides loyal American Express customers with even more reason to stick with the company known for the best credit cards.