Amex add value via their #1 asset - Sonder
When you own a media channel and understand your customer’s value exchange you can create a solution that connects your brand emotionally and rationally.
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Amex add value via their #1 asset

08 May Amex add value via their #1 asset

Posted at 18:02h in Blog, Connect, Grow, Inside-out by

This week we are celebrating the work of our newest client, American Express, who have long been successful proponents of owned media leverage. They understand their most powerful communication channel is the thing that makes a statement about its owner, is seen every day by customers and highly visible to peers: the card itself. It is their Coke bottle, in the hands of millions worldwide. But unlike the Coke bottle there isn’t much communication real-estate on a credit card, so they had to be innovative.

Amex Offers is an ingenious way to give discounts to valued customers in an instant. Either through the app or online, customers can select the offer they want and assign it to their credit card instantly, so that next time they make a purchase in that store, the offer is automatically redeemed at the point of purchase. No red tape, no disclosure of personal information, no delay, no paper vouchers to cut out & embarrassingly present to the cashier, just instant redemption.

The beauty of this initiative is the triple win:

Customers WIN: The merchant partners are premium (David Jones, Kikki-K, Qantas) and offers are generous (eg $30 credit when you spend $150).

Merchants WIN: Amex’s cardholder base is vast and most likely skews to higher-spending customers, this initiative drives them to their store.

Amex WIN: They are consistently giving their customers significant value at little investment and with little paid advertising. Giving their customers regular reasons to stay and endorse Amex to others.

It is not always the case that businesses need to spend big on advertising a long list of features & benefits to acquire new customers or invest in airing big global TV ads to emotionally connect the brand with people. When you own a media channel and understand your customer’s value exchange you can create a solution which is so good it connects your brand emotionally (helping me shop smarter) and rationally (real discounts). Resulting in customers who love you and are compelled to endorse you to others.

Amex are a business doing it, rather than just saying it.

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