Last year American Express teamed up with social network giant Facebook to create a joint venture of ‘Small Business Saturday’ to help promote small businesses.
Yesterday American Express announced they have teamed up again to allow its customers to trade their American Express Membership Rewards points for Facebook ads. Facebook ads allows businesses target the right audience and leverage word-of-mouth advertising via recommendations or ‘like’ from friend. This is a key advertising tool for small businesses as it allows them to compete on the same level as larger organisations. AmEx have helped make it easier again for small businesses to get their business in front of potential customers. However, at the same time this strategic move by AmEx gives people an additional reason to use the brand.
This program is mainly targeted at small-business owners via American Express OPEN, but it’s also open to millions of other AmEx card holders. How it works is that for every $6,750 spent this can be redeemed for $50 worth of Facebook advertising. This is the first time that reward points from a card will pay for advertising of any kind.