For those not familiar with American Express offers, it is a program run by AmEx where credit card members can sign up for discount offers (i.e. $5 off $50 spend) for specific retailers. Once opted in, the offers are valid for a limited time period and provide a statement credit (with a confirmation email once used). While this program can be useful (and I have used it many times), the operations and implementation seem to be stuck in the stone age which limits its value.
The good – AmEx credit card customers can achieve significant
savings on products in addition to coupons or sales. AmEx pays nothing for
these discounts while building customer loyalty and satisfaction. Participating
companies can offer hyper-targeted promotions to AmEx’s customers rather than
broad sales.
The bad – AmEx does offer some ability to look at offers on its
app, but most offer reminders and marketing is done through a clunky email
format. Due to this, it’s often not easy to remember which offers you have and
when they expire.
The ugly – It’s 2020 and AmEx has not utilized many of the digital marketing tools and building blocks to enhance this offering. At a quick glance these could include:
- Analysis of offer take behavior to suggest customized offers (current list in not personalized)
- Utilize app push notifications (if offer is expiring, relevant offer released)
- Explore geo-fencing (at company cost) to pair with reminders to use your credit (if near or at a store that has an offer)
With some small moves, AmEx could unlock significantly more
value from this program and stop letting in languish as an overlooked benefit.
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