Despite declining consumer confidence in financial institutions and credit card companies, American Express remains a powerful brand. In January, the New York-based company reported a 12 percent rise in income and record levels in cardmember spending. In terms of public perception, the marketer has also seen growth: It jumped 12 places in BrandZ’s most valuable brand index, moved up to the 23rd spot in Interbrand’s global rankings, and received the first Brand of the Year Award at MIPTV’s Branded Entertainment Summit, a conference for content producers, broadcasters, advertising agencies, and digital companies in Cannes, France.
Much of this can be attributed to the premium placed on the rewards program, a wealth of benefits that includes access to large events. More recently, this experiential marketing strategy has moved into the digital sphere, adding iPhone apps, news and video content posted online, and unique opportunities on digital platforms like Foursquare and YouTube to existing perks like private lounges, pre-game receptions, concierges, and special screenings.
Indeed, a bigger investment in social media helped the financial-services marketer grow its Small Business Saturday program, a post-Black Friday initiative that encourages consumers to shop at local stores and, since launching in 2010, has already won three Clio awards. Last year, a partnership with Foursquare offered account credits to those who checked in and spent more than $25 and American Express provided tools for participating businesses through Facebook, Twitter, and YouTube. The big push helped drive even more awareness, drawing 2.6 million “likes” on the dedicated Facebook page (up from 1.2 million the previous year) and generating more than 30,000 tweets—including one from President Obama’s account—using the hashtag #SmallBusinessSaturday.
With “Unstaged,” the company and partners Vevo and YouTube have created an even more interactive platform that combines live concerts with digital components. More than just a Twitter feed or videos uploaded online after the show, the music series relies on engaging the on-site attendees as well as a Web-based audience in realtime by bringing in notable film directors, inviting fans to submit content, and allowing the at-home viewers to switch between various camera angles. For the Anton Corbijn-directed Coldplay performance in Madrid on October 26—which was streamed live on the Internet, four screens in New York’s Times Square, and mobile devices—butterfly designs submitted by the public were turned into a video installation and projected on LCD screens onstage. A dedicated channel enabled viewers to chat with each other during the show.
Other forays into new technology include teaming with Foursquare at South by Southwest. At the 2011 run of the music, film, and interactive conference and festival in Austin, Texas, the geolocation service gave cardmembers $5 statement credits when they spent more than $5 at one of 60 local stores. For each participant, American Express donated $1 to local nonprofit Grounded in Music. To draw more attention to its sponsorship of the U.S. Open, the brand brought in tennis star Chris Evert to promote its Next Contenders program—which offers a look at up-and-coming players in the competition—on Twitter and donated $1 to its community funding effort with the U.S.T.A. for each tweet that used the #GoNextContenders hashtag.
