Amazon was launched in 1995 by a man named Jeff Bezos, they started off as an e-commerce website that only sold books. Today, Amazon sells a wide variety of products and are dominating the e-commerce market. The company strives to set themselves apart from their competitors by constantly updating and improving their platform in order to keep their consumers happy. Amazon focuses very heavily on the satisfaction of their customers and are always thinking of new ways to make the customers lives easier because that is very important to them and their success.
Jeff Bezos is an out of the box thinker and he and his team are always inventing new strategies and coming up with ideas that no other company has thought thus far. For example, they recently launched “Amazon Go” which is a unique and innovative store that requires no check out, customers can just walk in and the Amazon Go app charges them for what they walk out with. Bezos is always thinking about the customer first and it motivates him to constantly invent and improve his company. Technology has played a huge role in Amazons success as a company and it is deeply embedded into everything they do currently.
Technology has given Amazon a huge competitive advantage over other online retailers as well as physical stores. Online shopping is extremely popular currently and Bezos knows that convenience is a very important factor for consumers when they are deciding on where to shop, so he has used technology and machine learning to make the consumer experience as easy and stress free as possible. Amazon started off selling books and now sells almost everything you can imagine online which makes it hard for competitors to compete with them. After doing a little outside research, I found that Jeff Bezos spent a lot of time and energy on developing a unique culture of metrics. There are a few key things that Bezos focuses on while running his wildly successful company. The first one being to focus heavily on the customer, this is a key metric because it allows Amazon to track their performance and make any changes they may need to make for the future. The second one is that Bezos lets his team of employees voice their thoughts and ideas and figures that a good idea will eventually come out of it. The third one is to use metrics to figure out what turns the customer off and fix it to improve the overall customer experience.
The last one is to take risks, Bezos constantly analyzes all of the data and the metrics give him the confidence to try new ideas and innovate which is what has given them the competitive edge over other companies. Amazon uses digital marketing to actively communicate with their customers in an efficient manner in order to attract new customers and to keep their current customers content. They came up with their own digital marketing strategy and called it the RACE marketing planning framework. RACE stands for Reach, Act, Convert, and Engage. Amazon reaches their target market by using SEO and keywords. They act by running tests and use the results to learn more about their customers and use that information to enhance the experience for them. They convert the customer by personalizing the experience for them while listening to their feedback to enhance their experience.
Amazon uses the first three steps to finally engage the customer. All of these steps are used to show the customer that Amazon really cares about them and the experience they provide for them.