American Express card holders will now be able to pay for Facebook ads using their membership reward points, marking the first time any company has connected a rewards programme to advertising spending.
In the coming weeks, American Express will roll out a national marketing program to support this launch.
American Express' membership rewards programme is a featured benefit used by American Express small business and consumer card members. With Facebook having emerged as the most popular social media site for small business owners, and its advertising platform reaching over 500 million people globally, the addition of membership rewards points as a payment option will enable business owners a new option to build their businesses through the rapidly growing area of social media advertising.
''The membership rewards programme is a unique and core asset for American Express that is becoming even more relevant for our card members in the social media space,'' says Ed Gilligan, vice chairman, American Express.
Gilligan added that "this first-of-its kind" opportunity to its small business card holders would help them leverage the marketing power of the world's largest social media platform in a smart and effective way.
David Fischer, vice president of advertising and global operations, Facebook, says, ''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.''
American Express card holders can redeem Membership Rewards points for Facebook ads through American Express OPEN's Facebook Page or the membership rewards program website.
How it works
Cardmembers can redeem their membership rewards points for Facebook ads as follows:
- Log in and choose the amount to access their membership rewards account and choose Facebook ads denomination
- Get their unique Facebook redemption code, which American Express sends via e-mail
- Load their account by creating their ad and entering their membership rewards redemption code to pay