Positive Responses Follow American Express’s Entrance into Customers’ Everyday Lives Online and Offline
On March 2nd, 2014, American Express introduced the Amex Everyday Credit Card. In an advertisement starring Tina Fey doing everyday things, American Express highlighted new offers including rewards on everyday purchases. While the “everyday” theme is evident in the commercial’s content and online advertising efforts including an #everydaymoments hashtag, it is not clear whether or not this campaign resonated with social media users and potential credit card holders. Looking at the Twitter conversation that took place over the past two years highlights how users responded to the Everyday Moments campaign as well as the marketing efforts that followed.
From January 1st, 2014 to January 1st, 2016, over 628,000 Tweets were written about American Express in the United States. Over this time period total post volume increased by 272% and Auto Sentiment Analysis suggests the majority of the conversation has been positive (41%) and neutral (53%) and minimally negative (6%).
Over the past two years, more than 160k Tweets were written using the @AmericanExpress Twitter Handle and 33k Tweets used the #everydaymoments hashtag. Additional insights are gained from looking at top Retweets. It is clear that American Express’s exclusive concert offers are also a popular topic of conversation. When Taylor Swift wrote about her partnership with American Express, she received over 2.5k Retweets.
— Taylor Swift (@taylorswift13) November 11, 2014
When looking at the American Express Topic Wheel, it appears as though AmexOffers makes up a significant proportion of the conversation. Delving into the Tweets in this section, it is clear that @AmexOffers, a Twitter Handle that automatically responds to American Express Hashtags, contributes to the conversation. However, Everyday Moments also appears along with American Express card and Tweet.
Looking at what people are saying over time highlights how marketing strategies influence conversation. Topics that have been stable over the past two years include American express, card, getting, and thanks. While it is always preferred to see positive trends, stable online activity is also encouraging. There is a spike in EverydayMoments conversation in spring 2014 and a small bump in conversation in fall 2014. It is clear that AmexOffers dominates the conversation. Beginning in spring 2015, American Express dramatically boosted conversation by responding to Tweets about the company with over 140k Tweets of their own.
Audience Affinities are a crucial tool for determining who is participating in the conversation. It is clear that the American Express audience is interested in finance. They are 62 times more interested in financial services, 13 times more interested in the stock market, 11 times more interested in personal finance, and 10 times more interested in real estate than the general Twitter audience.
The American Express audience is also interested in online activity. For instance, they are 40 times more interested in blogging and 84 times more interested in Information security, a topic that is highly important for credit card companies.
They are also 5 times more interested in parenting and 2 times more interested in being a mom than the general Twitter audience. Family-related interests suggest that individuals who are discussing topics like budgeting and household spending are also talking about American Express and deals such as Everyday rewards. Engaging current and future credit card holders online is crucial for boosting customers.
Segment Insights allow for an even deeper investigation into audience interests and conversation. Those who are interested in parenting are also interested in health, pregnancy, and fashion. Interestingly, 29% of their Tweets are Retweets and 40.5% of their Tweets have hashtags. Learning about how different audiences use Twitter, what hashtags are most popular, and who is influencing the conversation, provides key information for gaining access and making a positive impact on new audiences.
Like all advertising decisions, American Express took a calculated risk when they introduced the Everyday credit card and stoked Twitter conversation with #everydaymoments and @AmexOffers. Although there are plenty of examples of online advertising failures, evidence gathered and analyzed using ForSight suggests that the American Express initiatives have been a success. Building off of volume and sentiment analysis, it appears as though conversation surrounding American Express has remained positive over time. Although there do not appear to be gains in intent-to-buy conversation, stability offers a strong foundation for future initiatives.
In fact, insights gathered with Affinities and Segment Insights provide the data needed to build new campaigns that reach out to potential customers with strategic advertising as well as offers that cater to their specific needs. While low interest rates and bonus points will always appeal to credit card customers, an informed advertising strategy can reach new customers more efficiently and separate you from the competition.
For more information on social insights for the banking industry, download our case study on disruptions of traditional banking methods here.