Amazon’s Strategy Changed the Marketplace
Strategy And Your Brand
Amazon has been a game changer in the digital marketplace where it has redefined the customer experience. Traditional brands are fighting to stay relevant as they compete with new, digitally experienced companies.Your brand needs to understand Amazon’s strategy.
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 buying more products. The more products they purchase, the more data Amazon can use to establish what they want to buy next.
Understand Its Use
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 to understand more about how customers are using the platform. Work at creating a more customer-centric experience for your own customers.
You need to know more than just what they are buying. In turn, you also need to be aware of the other ways in which they are using the platform, such as using Alexa or Prime Video. You should also be familiar with Amazon’s different selling models to find out what may work for your products.
Connecting with Customers
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. It shouldn’t be used just for the sake of using 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 to their marketing strategies in order to thrive in a world that is digitally driven.