Small businesses can now use their American Express membership rewards points to pay for advertising on Facebook.
The credit card company is claiming a first in connecting a rewards programme to advertising expenditure in this way. But it pointed to the fact, according to its bi-annual Amex Open Small Business Monitor survey, some 35% of entrepreneurs now use the social networking site to promote their business, up from 27% six months ago.
Ed Gilligan, Amex’s vice chairman, said: "We are thrilled to partner with Facebook to bring this first-of-its kind opportunity to small business card members who can now leverage the marketing power of the world’s largest social media platform in a smart and effective way."
Customers can now redeem their points to buy Facebook Ads through Amex Open’s Facebook page at Facebook.com/Open or at its rewards programme website at membershiprewards.com.
David Fischer, Facebook’s vice president of advertising and global operations, said: "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."