this is a very interesting channel move from amex and shows some very interesting trends:
1. the ability of advertising platforms aimed at small businesses to leverage third parties to drive demand
2. the increasing power of loyalty programs to create business ecosystems
here is the release
American Express has announced that Cardmembers will now be able to pay for Facebook Ads using Membership Rewards points, marking the first time any company has connected a rewards program to advertising spend in this way. American Express’ industry-leading Membership Rewards program is a featured benefit used by millions of American Express small business and consumer Cardmembers. Facebook is the most popular social media site for small business owners, and Facebook’s advertising platform reaches more than 500 million people globally. With the addition of Membership Rewards points as a payment option, business owners now have a powerful new way to build their businesses through the rapidly growing area of social media advertising.
“The Membership Rewards program is a unique and core asset for American Express that is becoming even more relevant for our Cardmembers in the social media space,” said Ed Gilligan, Vice Chairman at American Express. “We are thrilled to partner with Facebook to bring this first-of-its kind opportunity to small business Cardmembers who can now leverage the marketing power of the world’s largest social media platform in a smart and effective way.”
“With hundreds of thousands of small businesses advertising on Facebook, this latest effort by American Express effectively takes advantage of our platform by providing these business owners with a new and convenient way to pay for Facebook advertising,” said David Fischer, vice president of advertising and global operations, Facebook.
Cardmembers can redeem Membership Rewards points for Facebook Ads through American Express OPEN’s Facebook Page facebook.com/OPEN or the Membership Rewards program website at membershiprewards.com. In the coming weeks, American Express will roll out a national marketing program to support this launch.
How It Works
Cardmembers can redeem Membership Rewards points for Facebook Ads in three easy steps either on Facebook.com/Open or membershiprewards.com.
Log in and Choose Your Amount — Access your Membership Rewards account and choose Facebook Ads denomination
Get Your Code — American Express sends unique Facebook redemption code via e-mail
Load Your Account — Create your ad and enter your Membership Rewards redemption code to pay
Cardmembers can begin redeeming Membership Rewards points for Facebook Ads immediately. For more information, visit: facebook.com/open.