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  • 03.06.12

The Social Credit Card: AmEx Syncs With Twitter To Turn #Hashtags Into Savings

The Social Credit Card: AmEx Syncs With Twitter To Turn #Hashtags Into Savings

Today, American Express unveiled a new program with Twitter to let cardmembers sync accounts with the social network, and earn savings from big brands such as Whole Foods, Best Buy, and Zappos–just by retweeting certain hashtags.

As with Foursquare, the process of syncing your AmEx account to your Twitter account is a quick, one-time process. Once linked, U.S. cardholders have the opportunity to earn rewards by tweeting special offers from hashtags. “Tweet #AmExWholeFoods, get $20 back 1x on next $75 in-store purchase,” Whole Foods might tweet. Once the consumer tweets the #AmExWholeFoods hashtag, the offer is automatically loaded into that member’s account, ready to be redeemed effortlessly the next time he or she shops at Whole Foods.

“Twitter is already being used as a platform to connect buyers and sellers, but no one has really nailed it in terms of proving that Twitter conversations can drive directly to commerce, or that tweets can really be linked to transactions,” says Dave Wolf, VP of global business and market development at AmEx. “That’s what we’re really excited about doing.”

In other words, AmEx has finally developed a way to demonstrate a tweet’s ROI–and not just in terms of commerce. The deals will also have a benefit on Twitter, leading to “more trending topics, more followers, and more conversations,” says Leslie Berland, SVP of digital partnerships and development at AmEx. “Are our followers growing? Are people talking about our business? Are people engaging with our content?”

It’s a social strategy AmEx has used to take the friction out of the point of sale, and turn something as simple as a hashtag into a potential future transaction. It’s also a social strategy we should expect AmEx to continue to pursue beyond Facebook, Foursquare, and Twitter.

AC