How AMEX is using data and creative to tap into customer contexts

AMEX data chief says brands need to move away from random acts of marketing and get to the zero moment of truth

Drawing idea board of business process

Businessman hand drawing idea board of business process.

benefit, blue, brainstorm, business, businessman, cloud, concept, data, dollar, feedback, field, function, future, glass, ideas, information, leader, market, media, money, network, person, plan, problems, professional, profit, report, security, service, social, statistics, dreamstime

dreamstime_25032631
Drawing idea board of business process Businessman hand drawing idea board of business process. benefit, blue, brainstorm, business, businessman, cloud, concept, data, dollar, feedback, field, function, future, glass, ideas, information, leader, market, media, money, network, person, plan, problems, professional, profit, report, security, service, social, statistics, dreamstime dreamstime_25032631

Brands should be using data and creativity to become part of a customer’s real-time context, playing the role of facilitator and utility as well as driving efficiency.

That’s the view of American Express vice-president of consumer acquisition and customer loyalty, Dean Chadwick, who spoke at the recent Data Strategy Symposium on how the financial services company is bringing together art and science in order to interact better with customers in real-time, and putting data at the heart of commerce.

According to Chadwick, AMEX’s ambition is to better harness the power of data to connect its services with customers in the ‘zero moment of truth’, a term coined by Google in 2011. Chadwick has been with AMEX for 21 years and previously led its data analytics, global marketing and innovation functions.

“There’s no point having a great set of data that drives a recommendation if there isn’t an awesome experience that’s connected with an audience on top of that,” he told attendees. “We are continually trying to bring these things together.

“We need to move away from random acts of marketing, and have data drive those contextual experiences… delivering real-time value to people on an ongoing basis.”

To do this, the group has been investing in data-driven resources and bringing together data scientists, engineers and marketers.

“What we’re aiming for are new concepts that are customer-centred, but with an overlay of good product design and good data science, that delivers an awesome experience,” Chadwick said. “We try to get products out to the market place quickly. We don’t always get it right, but we always learn from it.”

Chadwick explained his approach as having a foundational data layer, overlaid with data science, but which features experience at the top of the pyramid to drive new commerce capabilities across the network.

To make this happen, Chadwick said he’d had to embrace a new “vernacular that as marketers we need to get comfortable with”.

He explained the new approach as one where brands must look at “nodes” of data, and the “edges” connecting those nodes together. These can be defined in three ways: Stated nodes, such as where a customer lives; triggered nodes, or the event or action that has occurred; and inferred nodes, which are based on data marketers have on customers, such as an interest in fashion based on purchase history.

Examples of AMEX data in commerce

Chadwick then took attendees through the data set AMEX is building up around card members to drive build products and programs for customers. As an issuer, acquirer and network, AMEX has a wealth of information closing the loop from merchant through to card member, he said.

One of these is the Local Champion program, which offers loyalty rewards for customers using their AMEX card in places they regularly spend in, such as local coffee shops or grocery stores. The program is driven by the habitual spend behaviours of customers, Chadwick said, and uses real-time transaction swipes to build the rewards. Participating customers can also see how many transactions they are away from being the local champion in their community.

“It’s the real-time nature of the program, and about being close to an event trigger, that means we can start driving experiences using data,” he said. “It’s a gamification of spending.”

Another example is using spending data as a content layer, Chadwick said, to provide customers with information and recommendations on what’s trending in real-time in a certain location.

“Data becomes an always-on content source, then we can connect people to those different types of experiences,” he said.

In addition, AMEX has partnered with TripAdvisor to link its customer’s AMEX account to their TripAdvisor account. “As a merchant or hotel, you’d then login as a trusted source and ask customers to make a recommendation based on where that customer has spent in the last few months,” Chadwick said.

“The other thing we can do is to create card member hotspots, generate dynamic lists of hotels and restaurants based on curated spend data, as well as use this a way to distribute offers and perks.”

AMEX has also partnered with taxi cabs in New York to provide reward points to customers on taxi fares, extending the currency of its loyalty program in the marketplace, he said.

“The experience must be entertaining, useful and relevant,” Chadwick added. “To be successful in mobile, you need to be driven by utility, content and be somewhat fun – have a pub talkability factor.”

More from Data Strategy Symposium 2014

Follow CMO on Twitter: @CMOAustralia, take part in the CMO Australia conversation on LinkedIn: CMO Australia, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu

Signup to CMO’s email newsletter to receive your weekly dose of targeted content for the modern marketing chief.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Is customer segmentation dead?

Ginni Rometty, the CEO of IBM, announced the death of customer segmentation five years ago saying, "The shift is to go from the segment to the individual. She might have been a bit premature for most marketers, but if customer segmentation isn't dead yet, it's definitely on life support.

Richard Taylor

Senior digital strategist, Spinach

How people buy brands

Andrew Ehrenberg was a giant in the field of marketing science. He believed scientific methods could reveal law-like patterns of how people buy. In this post, I summarise one of Ehrenberg’s most important discoveries and its implications on how people buy brands.

Kyle Ross

Strategist, TRP

Is artificial intelligence riddled with bias?

The purpose of Artificial Intelligence (AI) has always been to replace the menial and repetitive tasks we do each day in every sector, so that we can concentrate on doing what we do best. Saving time and money has certainly been a decent outcome as AI infiltrates the business landscape, however, now we are starting to see problems that cause major issues in practice.

Katja Forbes

Founder and chief, sfyte

This is so cool & Innovative . A Milestone will be created by this.

Digital Marketing Courses

AANA, IAB and MFA chiefs detail first cross-industry digital advertising practices

Read more

“2019 will be the year brands leverage their social capital with consumers to help drive sales, answer questions, and act on the brand’s ...

Engenius

Predictions: 9 digital marketing trends for 2019

Read more

At the deeper levels of artificial intelligence, computing machines make all kinds of correlations among whatever data is available to th...

Fraction Tech

Is artificial intelligence riddled with bias? - Customer Design - CMO Australia

Read more

https://myiplookup.com/ - find your ip address and location information in our main page. Also there are many ip tools you can use : IP L...

savefrom

iSelect outlines new approach to arrest ineffective marketing as its reports full-year results

Read more

https://myiplookup.com/ - this website will allow you to View Alexa Ranking and graph Check http headers of a website, tool to compare te...

savefrom

The Star's first CMO creates all-new marketing team

Read more

Latest Podcast

More podcasts

Sign in