Amazon Strategy is changing the Marketplace for your favorite Brands
As I wrote recently on World News, Amazon has been a game changer in the digital marketplace. In this space, it has redefined the customer experience. Traditional brands are fighting to stay relevant as they compete with new, digitally experienced companies. Amazon has been changing marketplace for years.
Prime, Amazon’s membership program, is helping to accelerate its forward momentum. Over 40 million people in the US have a Prime membership. Customers want to know ‘Do you have what I want and how quickly can you get it to me?’
Amazon has been working hard giving a positive answer to these questions. They want users to keep renewing their membership and buy more products. The more products they purchase, the more data Amazon can use to establish what they want to buy next.
Alexa, Amazon’s virtual assistant, has created an on-demand, personalized experience for users. They can simply give Alexa a voice command, such as for toothpaste to be reordered, and it happens.
Your brand, no matter how big or small, can’t afford to ignore the extraordinary growth of Amazon. You can learn from them and understand more about how customers are using the platform.
Also learning to work at creating a more customer-centric experience for your own customers. You need to know more than just what they are buying. You also need to be aware of the other ways in which they are using the platforms Alexa or Prime Video.
Changing Marketplace is Game Changing
You should also be familiar with Amazon’s different selling models to find out what may work for your products. Amazon has accumulated large amounts of data that can be used to gauge more about customer behavior.
Amazon Marketing Services (AMS) and Amazon Retail Analytics (ARA) offer enlightening reports. Some brands are using third-party apps and other skills to find new methods of connecting with customers.
Companies like Uber and Domino’s are enhancing their existing services this way. Technology can be game changing but it shouldn’t be used just for the sake of using it. It should be used where it can make an improvement to the customer experience.
All brands need to think about making whatever changes are necessary. Changing their marketing strategies in order to thrive in a world that is digitally driven.
Read more on this topic here.