American Express Tells Cardmembers Where to Go - Card Issuers News

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American Express Tells Cardmembers Where to Go

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American Express Tells Cardmembers Where to Go
May
16

Have you ever wondered whether you`re missing out on a great deal because you can`t keep up with all the daily deals offered by Twitter, Facebook, foursquare and American Express? Now there`s an app for that.

This week American Express launched the “My Offers” feature as part of their existing iPhone app, which Amex card holders already use to easily and securely manage their accounts. Now they will be able to go to the app and see all relevant offers for their area, from Twitter, Facebook, foursquare and American Express. The offers will be ranked according to each customer`s current location and spending history, so that they are as relevant to each individual card holder as possible.

On the My Offers dashboard, Amex members can sort offers based on expiration date or location, as well as see which offers they`ve redeemed and how much they`ve saved. Savings appear automatically as a statement credit three to five days after making a purchase.

Crowded Market

Josh Silverman, president of the U.S. Consumer Services Group at American Express says that, “In an increasingly crowded marketplace, where consumers are bombarded with daily deals, we saw an opportunity to help our Cardmembers save time as well as money by curating meaningful offers for them.”

Indeed, the daily deals market is crowded, with not only foursquare, Twitter, and Facebook offering discounts, but sites like LivingSocial, Groupon, Woot! and Bloomspot giving out coupons and discounts to members every day, sometimes multiple times a day. It`s enough to make anyone long for the days of just clipping coupons out of the Sunday newspaper and filing them in a pocket binder.

The program is only in its pilot stage, being offered in Los Angeles and New York City, as well as a few national merchants like Basin-Robbins and Dunkin` Donuts, but it`s expected to roll out in more cities by the end of the year.

Good for Members, Good for Merchants

The My Offers program won`t just be beneficial to consumers, but to businesses as well. By signing up to participate in American Express`s “Go Social” discount offer program, merchants can target their discounts to the demographic they most covet. By strategically offering deals, they can attract increased customer traffic and nurture customer loyalty and repeat business.

Amex`s Siverman says, “We can help our merchant partners build their business by helping them reach the right Cardmembers with the right offers at the right time. We developed our mobile offer engine with three key points of differentiation in mind: relevance, convenience and value.”

Everyone Wins

This new feature is part of American Express`s “Smart Offer” technology, which they use to power their partnerships with Facebook, Twitter, and foursquare. The Smart Offer technology makes it possible for American Express to bring consumers and merchants together and give both maximum value and service, at the same time building their own business by encouraging card holders to use their American Express cards. It`s a win-win for businesses and consumers.

The person widely credited with American Express`s domination of the social media scene is Leslie Berland, Amex`s Senior Vice President of digital partnerships and development. She said in a recent speech at the Mashable Connect 2012 conference that it took three weeks to craft Amex`s first tweet after they joined Twitter. Their promotion of “Small Business Saturday” which encourages people to shop locally the day after “Black Friday,” and also their presence at the SXSW festival in Austin, Texas over the past few years, were the seeds that Berman credits with helping Amex become the social media mavens they are today.

All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
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