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Shari McConahay

What do you think of American Express' New Social Outlook?

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Personally, I think it's a smart move from American Express. It seems more than an advertising campaign to me, it's smart business. They are delving into the world of social media and online advertising rather than pretending they know what it is. I've seen the commercials for Amex Points being a "social currency" and thought it was a clever to incorporate tweets from people talking about using their American Express points for exotic and fun things. Now they launched exclusive specials with FourSquare: https://sync.americanexpress.com/foursquare/ and just yesterday I saw that they are now allowing small businesses and entrepreneurs to use their American Express points towards payment of Facebook ads.

"The Membership Rewards program is a unique and core asset for American Express that is becoming even more relevant for our Cardmembers in the social media space," Ed Gillian, vice chairman at American Express, said in a statement.

According to a survey by American Express OPEN, 35 percent of entrepreneurs use Facebook to promote their business and attract new customers, which makes Facebook the most popular form of social media for business owners.

"With hundreds of thousands of small businesses advertising on Facebook, this latest effort by American Express effectively takes advantage of our platform by providing these business owners with a new and convenient way to pay for Facebook advertising," David Fischer, vice president of advertising and global operations at Facebook, said in a statement.

Read more about using American Express points to pay for Facebook ads.

As an entrepreneur and coming from a small, family business background myself, I really appreciate this and as most entrepreneurs know, sometimes you just have to use those points for something like advertising for the business instead of a new pair of shoes or a trip to Bora Bora.

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