Amazon has started a long way from its self-effacing beginnings as an online bookseller store. Since Amazon launch in 1994, has grown to become an eCommerce monster. Now day’s Amazon becomes first place shoppers go round to buy anything from kitchen products to the latest hi-tech gadgets. Here are a few lessons that are the center of Amazon Success. You may use them to make your eCommerce business even bigger and successful.
Think, your customer needs & demand
The reason for Amazon’s growth from a book retailer to “everything” retailer is really a huge achievement to tap into the power of referrals.
CEO of Amazon Jeff Bezos, quoted, “in the past time if you make the customer happy, they would tell five friends. Now, over the internet, whether online customer reviews or social media, they could tell 5,000 friends.”
News travels like lightning speed across the internet, so to Bezos’ consider, by offering consumers a great experience, Amazon grows when consumers share their experiences with family and friends. This formula drives new consumers to Amazon’s platform to browse the product pages and again new consumers share their, experiences with others. The main key to sustainable long-term success with this phase is to obtain consumer needs and demands and a customer-focused approach. Bezos explains it this way, “There are various ways to run a business. You can be product-focused, you can be business model-focused, you can be competitor-focused, you can be technology-focused and there are plenty more. But as I think, compulsive consumer focus is way more protective of day first strength.”
What you can do
Nowadays we live in a high-tech world where a community shares their experiences online over the internet, and personal referrals work way more than brand marketing or any kind of marketing.
First Focus on the ways to make your customers happy and then use this audience preference to your advantage. If you do good service, your consumers are more possibly to share their experiences, which will help outgrow your customer numbers and raise your revenue by lowering customer acquisition cost CAC and possibly boosting lifetime value LTV.