Social integration took on a whole new meaning last week as American Express announced a partnership with Facebook allowing cardholders to link their accounts to their cards in what they are calling “Link, Like, Love.” The program, similar to that of the Foursquare partnership announced earlier this year, allows cardholders to receive automatic rewards on their card targeted by their likes and interests. The promotion is just short of amazing.
However, as I think more about the general AmEx card holder versus the average Facebook user, I wonder if AmEx is approaching something much larger here.
The average Facebook user is now nearly 40 years old, but I would imagine that that for heavy or advanced Facebook users, that demographic skews much closer to the millennial generation – a generation buried in credit card options and credit card debt. Now, not speaking statistically whatsoever, I would say that the perception of AmEx, with its annual fees and generally high credit limits, skews towards a more financially established user overall.
More interesting than the partnerships AmEx has created is that AmEx is now:
a). Leading a younger generation with no shortage of options to consider a card option typically out of their demographic simply because it now fits in with everything they surround themselves with – a robust social graph, tailored deals and instant gratification.
b). Also targeting their key demographic by tapping into their exploration in social tools and recommendations. As these users begin to explore how to connect social to everything they do, this may be a perfect first step with a brand they trust financially. I can’t imagine the baby boomer generation is going to stop signing up for Facebook any time soon.
As brands become more intertwined into every facet of our daily lives, I would bet that partnerships such as this start to carve new paths for consumer decision making on both sides of the fence. I, for one, know I’m a little more interested in what AmEx has to say these days and look forward to brands continuing to push the boundaries in social for user of every age.