American Express
Creating new pathways to demand for a 175-year-old industry leader
American Express' brand has historically been perceived as inaccessible for many small businesses. However, with the pool of small and medium enterprises growing rapidly and facing increasingly tough challenges, AMEX felt a responsibility to step in and better serve them. We helped them tap into what these entrepreneurs need and value most, and created multiple innovation concepts that offer a small taste of what it means to be an American Express member.
American Express’ premium halo contributes to the misperception that they are a brand that only serves established, larger businesses. The challenge was to help AMEX convert skeptics by offering real value for free, while eventually converting them to a long-term relationship.
Modern tech brands lean heavily on “freemium” models: proving value for consumers without requiring them to pay for their full suite of benefits, products, and services. The challenge they all face is figuring out how to deliver enough value to keep people engaged without giving too much away.
Our process was equal parts collaboration and iteration. Working closely with the Global Commercial Services team, we conducted research to uncover the needs of small business owners and explore their attitudes toward the “freemium” model. From there we innovated, validated, and refined new “freemium” prototypes that are defining an entirely new model of membership.
We delivered multiple bold ideas for how American Express can offer a glimpse of the radical value it can provide to businesses of all shapes and sizes through a freemium business model. Our concepts have been foundational for AMEX as they continue to navigate the brand’s premium perception and better serve SMEs. One of their biggest moves to date was the acquisition of Kabbage, a lending and cash flow management company that gives small businesses the tools needed to expand.
Our research uncovered the needs of small business owners as we explored their attitudes toward the “freemium” model.
One of the freemium concepts we developed was focused on giving SMBs a 30,000 foot snapshot of their business.
This freemium concept was based on a rotating suite of services aimed at giving small businesses an invite-only taste of what AMX offers.
