(CBS) - Today, American Express and Facebook launched a new program that allows the credit card company's Membership Rewards customers to redeem points for ads on the social network.
Although the initiative is geared at small-business owners who use the American Express OPEN card, other AmEx cardholders can take advantage, too.
All you have to do, cardholders, is simply use your AmEx when you buy stuff. For every $6,750 spent, you can redeem $50 worth of Facebook advertising.
Think about the possibilities, business owners, entrepreneurs and bloggers! With the 750 million members on Facebook worldwide, it's a huge platform to hawk whatever it is that you're trying to sell or get people to click on.
But, marketing pros warn, the new ads-for-points concept might not be for everyone.
"It a boon for Facebook," social-media coach Janet Fouts told USA Today. "But you can't just throw your money at this and hope it works. You have to have an advertising strategy."
Consider the fact that while Facebook ads can be beneficial to your brand's exposure, gaining customers who will actually buy products is not easy. "Twitter and Facebook are better for raising awareness - they fit in with marketing rather than direct sales," says Kate Hodge of the Guardian's Social Enterprise Network. "On certain occasions, make a sales offer but bear in mind that if you overuse them for sales, people will switch off."
American Express has also partnered with mobile check-in service Foursquare for members to redeem special offers without having to present a coupon or promo code.