This morning American Express announced a new extension to it’s membership rewards for businesses in the form of advertising credits for the popular social networking website facebook. This isn’t the first time American Express has offered small businesses ad credits on the popular site, just last year they offered $100 advertising vouchers for business owners who enrolled into their online program and became a fan of their Amex business fan page. Compared to the most popular business reward of 1% cash back, the facebook ad credits fall short since the total face value is less than 1% but that hasn’t stopped any excitement in the new announcement.
William Benton, a small business owner himself, welcomes the new membership reward: “Well it’s not much but it still gives businesses like me the opportunity to test out facebook’s marketing platform and see what kind of results it’s capable of”. Others weren’t so optimistic, comments and tweets around the web seemed to be disappointed with the $50 reward and citing that the industry standard for cash back is 1% so why isn’t American Express willing to offer $67.50 (1% of the required $6,750 spend) to it’s rewards members?
Either way it appears as if the new rewards program is here to stay and American Express plans to launch a national campaign to promote it’s new offer.