Amazon Growth Strategy & Success In 9 Steps.

Amazon Growth Strategy


The Strategies Behind Amazon Success.

Introduction.

In 2015, Amazon broke a record, passing the 100 Billion thresholds in annual profitability. The company's CEO, Jeff Bezos, says that Amazon is the fastest-growing company among the companies established so far, and they hold the record. Amazon has grown so rapidly that in October 2018, the company was the second $ 1 trillion company after Apple.

The company's enormous size is actually enough to explain why many entrepreneurs around the world are watching with great curiosity about what Amazon does, and almost everyone is following Bezos' steps to see what they are doing wrong at their own company and the new steps they can take.

The good news is that Jeff Bezos intends to share his success openly rather than hide it behind closed doors, and Bezos, who shares the steps and principles behind this rapid growth of Amazon, is trying to set an example for entrepreneurs who are trying to follow his path. Bezos attributes the success of his billion-dollar company.

1. Learn to see the potential defeats as the price of innovation.

Business


Many companies avoid defeat to death, afraid of failing or falling as if to fail at something. On the other hand, they also know that in order to stay up to date, they need to innovate to keep up with trends. In all this chaos, they act in a way that minimizes their losses, and they do their innovations by trying to avoid the problem, not focusing on development. On the contrary, Bezos argues that you cannot innovate by being afraid of defeat. Here is a cut from the company's annual report published in 2015, which clearly reveals what Bezos thinks about it:

“I think one of the most important things that set us apart from other companies is our approach to defeat and failure. I think Amazon is one of the best places to fail, we have quite a bit of experience with it. To be able to invent something new, you have to experiment. If you know what works, what you're doing isn't an experiment anyway, it just means you're delaying success. On the other hand, experimenting leads to error and failure.

 Many companies want to be innovative, innovate one after the other, but few are ready to face the problems required to do so. Admitting the mistake and learning from it should be part of your company culture, not a strategy to be implemented in the worst case. "

As you can see from Bezos' words, you should make experimentation a part of your company culture. This means that you must pursue your curiosity and look for new branches and ways in which you can serve your customers and add value.

Of course, that doesn't mean you make big mistakes all the time. On the contrary, make predictions calculated on your trials. This way, you will know what it means to fail and the consequences of your mistake will not come as a surprise to you. Be sure that over time you will also learn how to avoid big mistakes and achieve optimal results, but everything is step by step.

Jeff Bezos is one of the biggest supporters of this innovation culture. Echo, Amazon's impressive voice command device is one of the best examples of this. Echo can be used to listen to music, you can see the status of your favorite team, and find out the weather forecast. This innovative technology was a huge investment for the e-commerce giant, and they paid off in the same way. More than 22 million Echos were sold in 2017 alone. Amazon's obsession with progress may not always bear fruit, but if there's one thing that developments like the Echo have proven to us, it's that innovation does not always work, but when it does, it works.

2. See each day as your first day at work, work with that excitement and enthusiasm.
Amazon Business



Amazon is one of the largest companies in the world, with almost 350,000 employees. For a company of this size, it may seem quite normal for things to move slowly, you might expect the bureaucracy to face the problems faced by many other large companies. But, from almost day one, Bezos had said that Amazon would operate as if it were a hungry and fresh venture, confident that all of its employees would work as if it were their first day at the company and put their best in front of them. In a letter sent to shareholders in 2016, Bezos explained why how the company operates is so important:

Although Amazon follows a different way than other companies in delivering value to its customers, being managed with this understanding makes a significant difference between them and other companies as they enable them to get things done as soon as possible. So what does it mean to get it done as soon as possible? Making decisions quickly means taking action as soon as seventy percent is reached rather than waiting to have the full set of information to make a decision, implementing trends without seeing how much impact they have, means being one step ahead of other companies by evaluating forecasts.

So yes, even if your business is growing, you can continue to work in this way without losing the entrepreneurial spirit. The key is to get your colleagues to find their motivation and speed up their decision-making. When you add creativity to this combination, you will see that your work finishes much faster than before and you are on your way towards your goal at a great speed.

3. Know better what your customers want from them: give them what they want without asking you.
your customers



Behind Amazon's sense of urgency and desire to experiment is the desire to provide its customers with higher quality and more valuable service. After all, whoever you are, do the job you want, ultimately reaching your target customers, right? According to Bezos, Amazon's focus is on their customers, every minute of every day, they think about how they can improve the services they offer to them, and they work for that.

This obsession also helps them establish intimacy with customers. Thanks to this sincerity, they can take steps that make them indispensable for customers and take themselves one step further every day. There's a pretty clear reason why this is key to what they do, according to Bezos:

“Although they are not always aware of this, in fact, customers always want better. If you really want to please them, it is your job to solve this riddle, you have to understand and present it to them before they understand what they need. We take every step we take at Amazon with this approach: Nobody asked us to come to us and do something called Amazon Prime, but when this feature came into play, everyone was saying this was what they had been waiting for for a long time.

If the thing is to know your customers, you should never be content with what you have, you should always want more. Talk to them, observe, get to know better, and get to a point where you know better than they do what they want. This is a process, of course, but over time you will understand how to present your products, improve your services, and perfect product experiences, solving their problems with a skill that no competitor can.

4. Excellent customer service.

customer service.



Having world-class customer service, Amazon makes the daily life of its customers easier thanks to the practical tools it has developed. For example, Amazon, which provides services with different tools where you can track your cargo, return the products you have bought easily, change something you do not like immediately, brings out a quality service by combining simplicity with usability for its customers.

 Amazon's customer service department works so well that they've collected all the awards from various institutions. Aiming to become the world's most customer-oriented company, Amazon surpasses its competitors with its success in solving problems and its rapidly developing structure.

Another of the big steps they have taken in this regard is their effective use of social media as a customer service tool. They use various social media platforms in order to reach the masses who shop from them, communicate with them, and increase the quality of the service they offer. If you do your job right, social media can be a powerful platform, especially for e-commerce companies, you can build a loyal and effective follower base and respond to customer complaints much faster. This is exactly why many companies are trying to take themselves one step further by working with social media giants such as Instagram, Facebook, Twitter, and Snapchat.

5. Putting into practice.
Putting into practice.



Amazon is at its best when it comes to processing and executing customer orders. They only include products that customers really want and need on their platforms, they quickly process and ship orders with distribution centers they have established around the world, and deliver them to the buyers as soon as possible. Amazon's intimate relationship with the companies that supply them is precisely at this point, and that's exactly what enables them to sell products at a much cheaper price than other platforms.

 Amazon, currently one of the largest e-commerce companies in the world, aims to expand further in Europe in the coming days, and the company, which hires thousands of new employees, is focused on establishing new systems that deliver on the same day.

6. Diversity.
Amazon Business



Amazon, which started as an online book sales company from the very beginning, today sells everything you can think of, from soup to peanuts. Everything really. If you do a little research on the site, you can find more than 3000 vegetable soups and more than 37,000 products in your hazelnut and peanut research. Amazon does not only sell food, of course, but you can also shop for music, books, electronics, health, and beauty, vending grocery stores, and even clothes on the site. 

Business owners can contact Amazon's network experts and get technical support, and customers can even get service from the company for installation. Aiming to expand its reach by diversifying its offerings, Amazon insists on staying one of the most ambitious companies in the industry.

7. Excellent customer experience.
customer experience.



To improve your customer experience, you should create a user interface to ensure that buyers reach the product they are looking for quickly and effectively. In this way, you can increase your sales. That's exactly why a team specializing only in user experience is working at Amazon, collaborating with Amazon's engineers, product experts, and managers to take steps to make Amazon number one in the eyes of customers. The good news is that when every company hires the right digital marketing partner, it can improve the user experience and move it to the next level.

8. Combining design with content.
Amazon business



We know that one of the biggest parts of being successful in the e-commerce industry is creating content that will be in demand for long periods of time. The content you create should contain lots of keywords so that users see your company's name first when they search for something on the search engine. This is exactly why Amazon writes long product descriptions for each product it contains and includes the title of the FAQs. On the other hand, the point is that these long product descriptions should not adversely affect the user experience.

 When you open the promotion of any product on Amazon, you will see that detailed descriptions are never written in a way that will bore the user, they do not occupy a block on the page. Your design should be such that everything takes up as much space as it carries, while at the same time reflecting necessary and quality content. You need to make sure that your web page both looks interesting and presents the data you actually want to show.

9. Don't just aim to be a part of the industry, aim to be the best in the industry.
Amazon Business



Does anyone remember the days when Amazon wasn't making a profit? If you've been in the e-commerce industry for a while, you might remember the days when Bezos warned its investors. The famous CEO had said that Amazon needed a long transformation before it could profit. Speaking to Inc Magazine in 1997, the CEO said Amazon would not be generating profits for a long time. Behind this was the exact understanding we talked about: Amazon wanted not only to be a part of the industry but rather to become the leader of the industry. So they made new strategies and moves, waiting for the company to carry them, and Bezos knew that they would reap the fruits of their work, though late.

 The company, which had been operating without distributing dividends until almost 2003, was only able to distribute dividends to its investors that year. No matter what angle you are looking at, If there is an undeniable truth, it is this: Amazon has turned from a small book company into an industry giant. It created a brand new sector for itself to manage, and nowadays it is experiencing the golden days of its domination.




Post a Comment

0 Comments