American Express has unveiled the latest in a series of business-generating promotions on the social network. Now accountholders can receive special offers through an application that taps into users’ Facebook likes, and those of their friends.
The card company, which boasts a tally of 90 million card holders has thus far garnered over 2 million likes on its Facebook landing page. The company’s latest promotion, “Link, Like, Love,” which already has 943 likes, as of this writing, was crafted to make deals more social and transactions more seamless.
The program works as follows: Promotions are loaded onto users’ Amex cards so all they have to do in order to redeem the deal is swipe their credit card; the transaction goes through at full price and users then get a credit on their statement. The program does not require coupons to print or upfront monies to dole out.
Thus far, around 100 national brands have signed on to take part in the promotion, including:
- Whole Foods
- Outback Steakhouse
- Sports Authority
- Celebrity Cruises
Unlike the popular current daily dealer providers like Groupon, Amex claims it doesn’t take a cut of each deal, but you might call that semantics. Here, the card company makes money instead through normal payment transaction fees, which are actually based on a percentage of the transaction amount.
Some examples of the offers:
- Spend $30 and get a $10 statement credit.
- Spend $50 and get 10% back.
- Visit 3 times, spend $50 each time and get a $10 statement credit.
Amex is looking to not only make its mark as far as customer recruitment but marketing its brand to so-called Generation Y may help the card company get rid of its stodgy corporate image.
AmEx is extending this same promotion to small businesses. The company’s latest social tool for merchants, “Go Social,” is designed to help merchants tap into Facebook and similar platforms to launch their own cardmember deals.
Another marketing coup for the card company occurred in June of this year, when it kicked off a program that allows users to redeem rewards points for Facebook ads. For every $6,750 spent using an Amex, an accountholder can receive $50 worth of Facebook advertising.
American Express Vice Chairman Ed Gilligan explained in a press release:
As we continue to transform our business in the digital space, we’re focused on three key areas: value, relevance, and user experience, for both cardmembers and merchants. We’re thrilled to bring together the power of the Facebook platform and our core business assets in a way that is personalized, meaningful, and will result in significant value for both merchants and cardmembers.
Readers, which group discount services do you participate in, if any?