American Express has long been the card of choice for jet-setting big spenders, but now the brand is looking to expand to a market more likely to chase kids on the playground than make the world their personal playground. That market is modern-day moms—those grocery-shopping, carpooling, multitasking mothers who are more focused on bringing up kids than bringing in the big bucks. To capture this market of moms, American Express is introducing a new no-fee rewards credit card called Amex EveryDay and promoting it with an ad campaign starring the famous and funny mother, Tina Fey. The New York Times featured details on the card and campaign that the company hopes will play well with mothers.
The new Amex EveryDay card and ad campaign are intended to help the company target the modern mom market. The company knows that busy mothers are a key to growth and is striving to broaden both its branding and its business.
“We targeted a segment here who in the past has thought we didn’t have a product to meet her lifestyle,” said Josh Silverman, Amex’s president of consumer products and services. “She’s a busy mom and she doesn’t have a lot of time to be traveling. She feels like some of those rewards are not accessible to her.”
American Express is known for its premium charge cards that offer worthwhile rewards for purchases, but come with high annual fees. Yet the new Amex EveryDay card offers a spin on the standard rewards formula. These cardholders will earn one reward point for every dollar charged, with double points for supermarket purchases in the United States up to $6,000. In addition, they will earn 20 percent bonus reward points after making 20 or more purchases of any size in a single billing cycle.
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The accompanying ad campaign stars actress and multitasking mother, Tina Fey, in three commercials. The spots show Ms. Fey using the card everywhere to meet the daily demands of being a busy mom, from the drugstore to the dry cleaner, yet makes sure to mention the rewards of reaching that twentieth purchase.
But American Express isn’t the only card company charging after the mom market. Both Bank of America and Chase have come out with cards that reward moms for their shopping habits. These cards cater to the market of moms who spend most of their money while spending time with their kids.
Another reward of the new Amex EveryDay card is that comes equipped with an E.M.V. chip, which makes it extremely difficult for anyone to counterfeit the card—and is a rare feature in the U.S. This chip comes in response to a series of security breaches at many major retailers that resulted in fraudulent online transactions.
With this new card and campaign, American Express is acknowledging that moms are a market they can’t afford to ignore, so they’re hoping that rewarding moms will reward the brand with their business.
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