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5 Reasons Behind The Success Of Amazon!

Summary: From a book-selling website to becoming a household name for almost everything, Amazon has come a long way. Ever wondered what made it so successful?

Surely, it wasn’t just luck. Amazon was first established in 1995 as a simple book-selling website. Within a month of opening, it had already shipped its products to 40 countries. Over the following years, the brand kept on evolving and flourishing, becoming a brand that is known as one of the most respected, largest, and most powerful companies in the world.

Over the last decade, the company has transformed in various ways to increase its reach, customer base, and product range. Whether you need a pen, a book, a refrigerator, a tv, or a smartphone, we know we can get everything on Amazon, right?

So what makes Amazon so successful? Some key reasons make Jeff Bezos`s company a flourishing venture:

1. They are more adaptive to Innovative Technology

The major contributor to Amazon`s success is its ability to innovate continuously. It didn’t wait for someone else to create its business model. Rather, they kept on experimenting with new technologies and happily embraced modern practices. For instance with their impressive voice command device- the Echo, Amazon created a moment of disruption. The echo can be used to play songs, control Bluetooth devices, enquire about the weather, set alarms, and also make calls. You can check out the case study of Amazon`s CEO- Jeff Bezos, here.

2. A Diverse Range of Products & Categories

Starting as a website to sell books, Amazon, later on, diversified its products range and added more categories for the convenience of its target consumers. This diversification has helped them to be the-go-to for a large number of consumers. From groceries to Amazon wallets, most customers know you can buy just about anything by going to Amazon`s site or mobile app.

In any business, diversification is necessary for the scalability of the business. The more you diversify the services and products you provide to your customers, the more likely it is that your business will grow. If you are looking to scale your business, this video will help you.

3. Excellent Customer Service

One of the strongest pillars of Amazon`s success is its exceptional customer service. From tracking orders to returning items, the site is well equipped to meet the demands of its customers. Having a winning customer service team is essential for any business and Amazon has built a reputation for superior customer service in multiple ways. It handles all the queries impressively. It offers round-the-clock assistance. It has played its strategy well by partnering with many competitors, like Kohl’s to offer in-person returns of products.

They engage in conversations with their customers and this is one of the major reasons why customers keep coming back to Amazon.

4. They Utilize Collected Data & Learn

Most often companies collect data but fail to take the appropriate step. Unlike others, Amazon gathers its data from sales, affiliate marketing, social media campaigns, and many other touch-points to make vital decisions and build strategies. The company recognizes what its customers want, so they work on it and up their game plan to reach that target section.

Companies, that can learn from their customers and resolve the challenges they are facing, always stand out. To learn more, you can take our problem solving courses and gain in-depth knowledge.

5. A Winning Attitude

Back in 1997, Bezos told Inc. Magazine that Amazon will remain unprofitable for a long time before they would see a return. His progressive mindset kept the company pushing through various strategies until 2003. In 2003 the company posted its first profit. Amazon has grown up from a little online bookstore to an e-commerce giant. Amazon created the industry for total domination.

If you too want to scale your e-commerce business, these points will help you. All you have to figure out is how you can integrate these strategies into your business. The idea of managing a business is easier said than done and we completely agree with you.

This is why to help you move forward with your business goals, we at Bada Business offer an exclusive Business Coaching Program that comes with foundation courses, specialized courses, and value-added courses.

5 Ways Entrepreneurs Can Deliver Exceptional Customer Service

No matter how unique your products are or how lowest the price you are offering on the internet, it doesn’t guarantee customer loyalty and conversions.

Given the cut-throat competition in the market space, it`s only an exceptional customer experience that sets you apart. Hence, delivering a world-class customer experience that guarantees customer satisfaction is more important than ever.

According to a Gartner report from the 2019 Customer Experience Management Survey, organizations nowadays are committed to improving their customer experience (CX) more than ever. A good customer experience is the sum of all interactions that a customer has with your company. It is a summary of they reach your business website and their transactions. It also includes interactions before and after a sale.

If you are an entrepreneur, you can also find many online business courses for entrepreneurs where you can learn how to give your customers an unforgettable experience. It is a crucial aspect of any business as it determines whether or not consumers will buy from your brand and become loyal customers.

Here are the 5 key strategies that will help companies to build a world-class customer experience:

1. Create a Customer Experience Vision

Before you start making a unique strategy to give your customers a unique experience, it is important to set a vision. Being an entrepreneur requires you to create a clear strategy that is consistent and sets out straight your objectives.

2. Understand Customer Behavior

Customer behavior is constantly evolving. Thus, observing the current trend and pattern is important. You can`t provide a good customer experience without knowing your customers in and out. A customer journey consists of various touch-points that together add up to the experience they get upon interacting with a brand or a company.

A quick tip that you will not find in any online course for entrepreneurs is that you should interact with your customers directly and have every level of the organization speak with your customers and not just through the customer support team. This will give you a clear insight to provide your customer with an excellent experience.

3. Think of Customer`s Pain Points

Due to the personal and financial losses inflicted upon people all across the world due to the pandemic, the financial flexibility of the customers is limited. So what frustrates your customers? What makes them change their mind while making transactions? What stops them from being loyal to you? Consumers these days have a low tolerance for bad experiences. A good or bad experience in any single channel can result in winning or losing a lifelong customer. To offer a unique customer experience, you have to listen to your customers. You can do it by analyzing data related to their user journey, by directly interacting with them, or focusing on social media pages. So, businesses these days can`t afford to risk ignoring a customer`s touch-points.

4. Build Strong Relations with Customers

To build meaningful relationships with customers, companies need to interact with them across multiple channels (website, live chat, social media, and more). While the customers appreciate the candid interaction across multiple channels, they want it to be consistent.

5. Focus Less on Who Your Customers are and More on What they do

Focusing more on what people are doing rather than who they are will be more important metrics in years to come. Having this data record will have a dual benefit. It will help to improve the customer experience without compromising a person`s privacy.

No one wants to do business with a company that treats you poorly. Hence, providing an exceptional customer experience is vital in today`s time. By using the above-mentioned techniques, you can build strategies to give your consumer a world-class experience.

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