The American Express Firm
The American Express Firm, correspondingly known as Amex, is an American global financial services company headquartered at 200 Vesey Street in New York City. The firm was founded in 1850 and is one of the 30 constituents of the Dow Jones Industrial Average. The firm is best acknowledged for its traveler’s cheque, credit card, and charge card businesses. Ever since 1850, American Express has functioned to make a change in our clients’ lives in conducts that matter most to them. As one of the leading global providers of financial products for customers, American Express similarly uses social media to reach SME and impart them about their products. With dozens of social media profiles producing tailor-made content for local markets, Amex is one of the best financial brands on social media.
American Express recognizes that leveraging Facebook with its viral “many to many” social links will generate more stories about AMEX than they would ever accomplish on their own as those followers share AMEX’s features comprising text articles, videos, and images. In viewing at the crucial metric on American Express’s Facebook page “Talking about this,” the number of crowds sourced stories at a precise moment in time is 13,406 (this is the number of actions such as likes, comments, and shares by AMEX’s fans). Don't use plagiarised sources.Get your custom essay just from $11/page
In case you multiply this by the number of friends, each of these stories may spread (the average user has 234 friends according to an extrapolation of the numbers in the S1 filing) then the “potential” reach of conversations on Facebook about AMEX is 3,137,004. American Express did not have to pay a cent to reach those three million-plus individuals apart from building the Facebook network and beginning the compelling stories by reproducing their content on Facebook.
Here are some key activities American Express utilizes to engage with their fans on Facebook. Their images and photos are not just about American Express but their members and partners. They build their fan base by offering specials and exclusive offers to those that “like” their AMEX Facebook page. They understand that a more significant network offers them more reach, leverage, and crowdsourced stories and publicizing that money cannot buy. American Express understands that “entertaining,” not just enlightening, is vital on the social web and has one of their key tabs all about entertainment. AMEX similarly knows that its Facebook followers need motivations to contribute, and one of the critical reasons fans “like a page is so they can receive savings and special offers” and so feature this tab in their visible tabs on their Facebook.
AMEX uses its Twitter handle to distribute its content and similarly uses it to participate with followers and answer inquiries. They comprehend the power of online video to engage the user and understand that humorous or entertaining video is more prospective to be shared than merely through plain text. It is evident from the interaction I have highlighted below that they are using a community manager to interact in real-time to questions inquiries by Twitter followers.
American Express recognizes the worth of having social networks where their target audiences are hanging out. LinkedIn, with its 150 million high earning and sizable net worth professionals are a social media network channel that is worth establishing and participating in for AMEX. It also assimilates its other social networks by embedding and linking and other social networks such as YouTube.
YouTube
American Express’s trademarked YouTube channel discloses more about the intertwining of social into their advertising strategy. First, they have formed videos that are made for social networks and old media like TV. The victory and resilient social evidence are revealed by the viewers (nearly 18 million). Social media networks are not merely about being stern but having some fun because at the end of the day, they are “social” and “human” systems, they occur to be online rather than offline! The YouTube channel is of lifestyle and entertainment, not just about corporate communication. They equally make it easy to click via your social network of choice by having them recognizable and linked on the YouTube home page.
Foursquare
American Express is applying the site based technologies of the social game Foursquare to provide incentives for merchants and customers to use the American Express card to obtain savings when they visit partaking merchants and use their AMEX credit card. It uses the Foursquare mobile app to command this marketing drive. This approach is also about creating crowdsourced dialogues and stories on this social network of 15 million handlers. By aggressively participating in Foursquare, AMEX has assembled a sizeable network of over 66, 000 followers that influences their brand. Extent does matter and would be an urgency in the social media marketing strategy