When Amazon was conceived as an online bookstore, its aim was to be the best in that field. Then came diversification, and today, the sale of books form only a part of Amazon’s online offerings. It has quickly replaced its vision of “a place to buy books online” with “a place to buy everything… period!” Amazon is now a Global Superstore without the burden of Physical Retail space.
So how did Amazon become the world’s number one retailer? How did this company almost single-handedly change our shopping culture overnight?
Simple, they just moved the store to you and stocked it with every item on your shopping list. This is easier said than done, and we are hesitant to believe it could ever be achieved without heaping a financial burden on the customer. That is exactly the opposite of what Amazon stands for.
Indeed, it excels at competitive pricing and even provides an avenue for the customer to give an opinion of its service.
Their recommendation function is almost like ‘writing a shopping list for you’ and giving you detailed information about every item on the list. Add that to free delivery of many items, then it’s safe to say ‘they virtually do your shopping for you’.
Yet, Amazon is not the only On-line shopping service; it’s just the most trusted and recommended. This guarantees Customer retention, loyalty and expansion. Jeff Bezos decision to invest in lower product prices and free shipping instead of advertising unlike many of his compatriots, has paid huge dividends and accelerated the growth of the brand.
According to him, “being a Customer-centric company makes you more pioneering”, instead of trying to beat what your competitors are doing, you constantly come up with ways of satisfying the customer better.
This way, a delighted customer with a constantly wonderful experience of your service is likely to have a long-term relationship with your brand. This is what advertising cannot guarantee.
This increasingly wonderful customer experience provided and unrelenting customer focus is partly the reason Amazon was one of the few dotcom companies to survive the crash. Most of all, it is trust and the fact that we simply can’t do without them because our lifestyles have been adjusted to their services.
As a pioneer for online technology; Customer Relationship Management and Information Technology both work as a driving force for Amazon’s business Strategy. Little wonder it developed a customer base of over 30 million people in about 10years and as it keeps expanding its portfolio, that number is sure to keep rising.
So what next for this great company? That’s easy; they just have to simply beat their current best! That’s the plus for customer-centricity, you just have to get an ‘A’ where you got a ‘B’ in the last test and keep improving, with the customer consistently benefiting from your improvements in satisfying him and meeting his needs.
This keeps the customer loyal to you and continuously singing your praises.