Posted by Mark J. Miller on July 5, 2011 12:00 PM
American Express points can get you a case of Bordeaux, a Sony camcorder, concert tickets, a food processor, and a slew of other things.
As a continuation of the brand's Social Currency campaign that launched in March, and its social marketing for AmEx OPEN, Amex cardholders now have a whole new area to choose when looking to redeem points: advertisements on Facebook.
As MediaPost notes about the initiative, which was announced last week, even though AmEx OPEN is targeted at small businesses, any AmEx Membership Rewards member can use this option.
The points can be turned in for the advertisements on OPEN’s Facebook page — where AmEx is running a "big break" contest that will give five small businesses a makeover and $20,000 — as well as on the regular Membership Rewards website.
“Each $6,750 spent with an AmEx card buys $50 worth of advertising on Facebook,” MediaPost reports. “The social network naturally hopes the new rewards option encourages more small and medium-sized businesses to advertise on the site.”
With American Express also recently partnering with Foursquare to offer discounts to cardholders when they check in at select shops and restaurants, it's certainly getting a lot more social and OPEN.