Social Media and American Express: Case Studies
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American Express recognizes the importance of social media and mobility for engaging customers. It is utilizing its unique closed-loop business model on new media platforms to enhance the customer experience. Case studies show how American Express provides value through social campaigns, partnerships, games and location-based deals to build engagement and drive business results. The presentation emphasizes going where customers are on emerging channels rather than waiting for them to come to you.
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Social Media and American Express: Case Studies
- 1. Social Media and American Express Case Studies Bevin Aston September 2011
- 2. Overview Overview of American Express Importance of having a social & mobile strategy How American Express is utilising our closed loop model in new media 1 Be Social 2 Be Mobile 3 Go where your customers are 4 Get outside your comfort zone & try something new Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 3. American Express snapshot American Operates in more Express is 160 than 130 markets years old around the world 94 million cards in force $713 billion in (44.2 million outside billed business** the United States)* * As of 2Q 2011, according to American Express Company 10-Q filing, 3 August 2011 ** American Express Company Annual Report, 2010 Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 4. American Express attracts high spending customers 2010 Worldwide Average Cardmember Spending Note: Calculated using a five point average of worldwide total basic cards in force for AXP and credit card and charge accounts for Visa and MasterCard (excludes debit). Note: As Visa did not report number of accounts for the 3 months ended 12/31/10, account levels were assumed to be flat to the preceding quarter for purposes of this calculation. Source: Company reports, based upon calendar year 2010 data. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 5. The importance of knowing our customers Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 6. World Class Service & Personal Recognition through membership • American Express has been creating cardmember communities for a number of years: – Travel – Business – Philanthropy • More recently we have been using social media platforms help us achieve this. – Via Twitter, iTunes, Facebook, LinkedIn & Foursquare • It has helped us bring the communities to life that was never possible before. These have helped us deliver value to cardmembers and merchants Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 7. Why utilising social media is so important The trend goes way beyond the new generations. The numbers are incredible. 750 million users 140m global tweets (120m logins per day) sent per day* 480 million users 75 million users 3,841,609,965 pictures shared 1.2 billion 85k apps videos per day 2 billion downloads Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc. *March 2010
- 8. The opportunities in Australia within Facebook are incredible • Globally: – ¾ BN members – 26 visits per month – Half visit it daily – After Google it is the most trafficked site – It has grown by 65% yoy within Asia – The fastest growing population are over 35 year olds • Australia – Half the Australian population are active users – 52% are females – Average time spent = 9 hours per week – 40% become a fan of a brand/ product page Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc. Source: Facebook
- 9. Importance of Mobile Social Media is now firmly led by mobile with 27% or people accessing social media networking sites on mobile. 1 Build brand awareness 2 Increase stickiness 3 Influence the path to purchase Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc. Source: TNS, Mobile Life Research, July 2011
- 10. Importance of developing a mobile strategy GPS has the power to change the path to purchase • In Australia there are 24M mobiles = 1.1 per citizen • 52% of mobile owners now have a smartphone • Communicating the relevant messages to the audience is key – as much about entertainment as social connection. • 27% of people use mobiles in store to compare prices, check reviews, review social network feedback about products & find store locations. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc. Source: TNS, Mobile Life Research, July 2011
- 11. American Express benefits from our Closed Loop Model American Express is the Card Issuer, Card Network AND Merchant Acquirer making us unique in the industry. We have a direct relationship with both the Cardholder and the Merchant Cardmember data Cardmember attributes Cardmember Data Spending behaviour Physical location Merchant data Transaction data Merchant attributes Merchant Data Transaction attributes Transaction Data Historical volume Channel Affiliation Authorisation information Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 12. Using our unique business model to take social media to the next level 1 2 3 4 Amex has been able American Express Using the closed Groundbreaking in to bring our unique has married the loop to take it to the social media, deals business model and social graph with our next level. & financial industry core assets to the core assets facebook platform Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 13. US: Small Business Saturday Leveraging the power of our closed loop to help small business owners attract customers and boost sales Supporting local, Launched on Facebook and independently owned small Twitter, leveraging the power businesses that create jobs, of social media to generate boost the economy and buzz among consumers and preserve neighborhoods merchants. across the United States. More than 1.2 million people 250,000 cardmembers who joined the movement on registered and shopped at a Facebook, where small small business on that day business owners received received a $25 statement free advertising and credit. marketing materials Small business merchants saw a 28 percent increase in sales on American Express Cards on that day versus 2009. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 14. Go to where your customers are rather than trying to pull them to where you are Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 15. US: Link, Like, Love American Express has developed a partnership that lets cardmembers access special merchant offers through the popular location-based mobile platforms. Step 4: "Love" the offers that AmEx Step 1: Step 3: delivers to your 1 2 Step 2: 3 4 Visit the Link, Like, "Like" any deals and Facebook dashboard "Link" your American Love app on the offers that you feel are when you start swiping Express card American Express relevant to you your card at Facebook page participating merchants and receiving automatic credits and discounts. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 16. US: Go Social Couponless offers accessible by American Express Cardmembers via their mobile devices. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 17. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 18. HK: Incorporating new partnerships into existing loyalty programmes Hong Kong: Amex & Groupon Partnership Utilising both brands to Membership Rewards cross promote Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 19. Bringing philanthropy online "I WILL VOLUNTEER" to Achieve One Worldwide: Friends of Japan Million Acts of Service Facebook app designed to connect volunteers across America to service projects in their communities. > than 60% Americans today -- and 84% of those between ages 21-35 -- are ready to commemorate 9/11 through acts of charitable service or volunteerism. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 20. Social media helps push contact if simple, entertaining & relevant Qantas: Rugby World Cup Kick the Ball competition Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc. http://apps.facebook.com/qantaskickaball/
- 21. UK/US – Virgin Atlantic ‘Looking for Linda’ • Virgin Atlantic Competition “Looking for Linda” to drive awareness of their facebook page. • Guess which country Linda is in for a chance to win. • Opportunity to win flights (with one winning Upper Class flights) Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 22. Australia – Westfield ‘All I want for Christmas’ campaign • Change status for a chance to win $10,000 Westfield Gift Card. • 32% of entrants invited 10 friends – over 822,000 invitations • 34% of entrants visited the Gift Cards website • An online sales spike of 14% above campaign period projected growth was achieved. • A campaign study done through Facebook revealed that exposure to the campaign delivered direct 2% uplift in intent to buy a giftcard and a 5% uplift in intent to visit Westfield centre and buy a gift card • Google organic search traffic increased 240% year-on-year in an environment where no other gift card marketing activity was underway. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc. Source: M&C Saatchi, 2010
- 23. UK Amex: Make games relevant to the product/service Social gaming has never been bigger, with over half of Facebook users globally spending a collective 150 billion minutes each month playing games. UK: Cash IQ UK: Gold Rush Cash IQ provides a suite of Turning facebook fans into cash-centric brainteasers. It fantasy traders offering solid enables people to compare gold as prizes. It is an scores and battle friends using engaging, interactive experience iPhones & facebook connect. which naturally taps into peoples competitive side. Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.
- 24. In summary 1 Be Social 2 Be Mobile 3 Go where your customers are 4 Get outside your comfort zone & try something new ‘Continual innovation, not instant perfection’ - Google Source: © 2011 American Express Travel Related Services Company, Inc. All rights reserved. This is confidential, proprietary and trade secret information of American Express Travel Related Services Company, Inc.