Page 9 - index
P. 9
9
The more the bank interacts with customers, American Express is one of the financial via Facebook, Foursquare and Twitter,
the more information about customers’ services companies that have effectively enhanced by geo-localization functionality.
lives and habits that can be collected to applied a strategy of social engagement. More recently, American Express developed
refine communities/profiles. This process American Express started with customer the Go Social platform, which has
can be further extended by introducing service via Twitter and then expanded helped its small-business clients create
real co-creation processes to develop its proposition by taking a cue from and autonomously manage commercial
new products or services and that can Amazon, who asked its customers to link campaigns (increasing merchants’
be subsequently offered to different their Amazon accounts to their Facebook acquisition rate from the program’s
profiles. Either way, customers are led profiles in 2010. This allowed Amazon first phase by more than 50 percent).
to feel that they are part of the bank, to analyze a complete profile, including Learning from other retail businesses
which helps to foster greater loyalty to preferences, needs and friends, helping can also be valuable: for example,
the institution and makes them less likely it formulate customized offerings and beverage maker Gatorade has created
to shop around for a different provider. discounts. American Express created a Mission Control Center, a “war room”
“Small Business Saturday”, playing off
Investing in social media has essentially for monitoring its brand in real-time
become a requirement to engage today’s more common sales days like Black Friday across social media, tracking various data
customers, considering the extraordinary and Cyber Monday. The initiative, based and running detailed sentiment analysis
growth in social media adoption (400 on linking customers’ American Express around key topics and products so it can
percent increase in the average time cards to their Facebook accounts to get respond or adjust its strategy accordingly.
users spend on Facebook from 2009- rewards, has demonstrated itself to be
2011, according to Comscore 2011) and highly successful (30 percent increase in
Generation Y average usage. In addition, a sales from 2009 to 2010). In 2011, another
surprising 75 percent of social media users initiative, “Link, Like, Love”, further increased
are above the age of 30, which suggests American Express’ relevance as a social
that banks should test new approaches on media player by providing customized
clients who fall into this age group first. offerings to customers based on their
spending, location and social media profile
Amex illustration
“We need to go where our
Cardmembers and merchants are...”
DAVID WOLF
Vice President of Global Marketing Capabilities
SOCIAL MEDIA VISIONS, 2010
Small Business Saturday
Nov. 27
First business step on social media
2010
Link, Like, Love
Cardholders benefit from personalized merchant deals linking their card with
Facebook, Twitter and Foursquare
2011
Accenture Distribution and Marketing Services
The more the bank interacts with customers, American Express is one of the financial via Facebook, Foursquare and Twitter,
the more information about customers’ services companies that have effectively enhanced by geo-localization functionality.
lives and habits that can be collected to applied a strategy of social engagement. More recently, American Express developed
refine communities/profiles. This process American Express started with customer the Go Social platform, which has
can be further extended by introducing service via Twitter and then expanded helped its small-business clients create
real co-creation processes to develop its proposition by taking a cue from and autonomously manage commercial
new products or services and that can Amazon, who asked its customers to link campaigns (increasing merchants’
be subsequently offered to different their Amazon accounts to their Facebook acquisition rate from the program’s
profiles. Either way, customers are led profiles in 2010. This allowed Amazon first phase by more than 50 percent).
to feel that they are part of the bank, to analyze a complete profile, including Learning from other retail businesses
which helps to foster greater loyalty to preferences, needs and friends, helping can also be valuable: for example,
the institution and makes them less likely it formulate customized offerings and beverage maker Gatorade has created
to shop around for a different provider. discounts. American Express created a Mission Control Center, a “war room”
“Small Business Saturday”, playing off
Investing in social media has essentially for monitoring its brand in real-time
become a requirement to engage today’s more common sales days like Black Friday across social media, tracking various data
customers, considering the extraordinary and Cyber Monday. The initiative, based and running detailed sentiment analysis
growth in social media adoption (400 on linking customers’ American Express around key topics and products so it can
percent increase in the average time cards to their Facebook accounts to get respond or adjust its strategy accordingly.
users spend on Facebook from 2009- rewards, has demonstrated itself to be
2011, according to Comscore 2011) and highly successful (30 percent increase in
Generation Y average usage. In addition, a sales from 2009 to 2010). In 2011, another
surprising 75 percent of social media users initiative, “Link, Like, Love”, further increased
are above the age of 30, which suggests American Express’ relevance as a social
that banks should test new approaches on media player by providing customized
clients who fall into this age group first. offerings to customers based on their
spending, location and social media profile
Amex illustration
“We need to go where our
Cardmembers and merchants are...”
DAVID WOLF
Vice President of Global Marketing Capabilities
SOCIAL MEDIA VISIONS, 2010
Small Business Saturday
Nov. 27
First business step on social media
2010
Link, Like, Love
Cardholders benefit from personalized merchant deals linking their card with
Facebook, Twitter and Foursquare
2011
Accenture Distribution and Marketing Services
