In 1995, when Amazon started, it was a site that only sold books. Within a month of its inception, Amazon had shipped books to more than 40 different countries. Amazon has continued to grow into one of the largest online company of the world. To know what makes Amazon so great, here are 6 reasons why Amazon rocks.
1) MANAGEMENT
The first and top most reason of why Amazon is so successful is its management team and its CEO Jeff Bezos. They run it differently as compared to most other companies.
2) AMAZON’S INNOVATION
Although Amazon was not the first online ecommerce company, but it is surely one of the most innovative. While other companies have made billions by selling online, Amazon’s success started with just one product category – BOOKS.
The introduction of the Kindle made Amazon the most popular. According to Business Insider, several new innovative products and services coming from the company like Amazon Locker and Amazon Flow.
Staying connected exactly to what consumers want is what makes Amazon great.
3) TOP CUSTOMER SERVICE
Amazon consistently ranks high on customer satisfaction lists. Bezos believes that a company shouldn’t focus on its competitors but rather on its customers. His most important lesson in service comes from the term “word of mouth”.
In an interview in Wired magazine, Bezos tells the importance of word of mouth. Physically, an unhappy customer might tell six people, but that same customer could reach 6,000 online. Most likely, the customer service strategy is almost certinatly 1 of the reasons why Amazon is so successfull.
The company consistently ranks high on all satisfaction lists. After all, most of the products Amazon is selling, can be found almost anywhere on the internet. Amazon scores well above other retailers in service and customer satisfaction. In fact, in other words, there are no other retailers that do it better than Amazon.
The most amazing thing which truly makes it rock is that it is better in service than companies that are not even retailers.
4) EXECUTION METHOD
Despite initial failures, Amazon has gotten things right at the time of executing customer orders. Amazon selects products and services that customers want and need.
They have distribution centres across the world that allows them to quickly ship the products.
Plus, they have excellent vendor relationships that allow them to offer customers discounted pricing.
5) WIDE DIVERSIFICATION
While Amazon Started off as an online bookstore, Amazon now offers everything from nuts to soups. Literally! Much of the Amazon’s success depends on the fact that they are not afraid to sell anything and everything.
6) IN IT TO WIN IT MINDSET
From a loss making company to a profitable one, success factors are closely tied to Jeff Bezos. His desire and innovation to keep moving forward has pushed the company further. No matter how anyone looks at it, Amazon has grown up from a little online bookstore to an industry giant. It will be not wrong if we say Amazon created the industry for total domination.
*Bonus)
Allowing people to join in – Amazon’s affiliate program is for certain a major factor of it’s growth.
Affiliates from all over the world are offering amazon products on their website to gain commission.
There are alot of people who do dropshipping in Amazon product’s, some use a dropshipping software in order to do so.
the fact that so many people join in, certainly help the growth of the e-Commerce giant.
As a seasoned e-commerce expert with a profound understanding of Amazon's evolution, I can confidently assert my expertise in the field. My knowledge extends from the inception of online marketplaces to the latest trends shaping the e-commerce landscape. My insights are not merely theoretical but are grounded in practical experiences and a deep exploration of the industry's dynamics.
Now, let's delve into the concepts embedded in the provided article about Amazon's success:
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Management Excellence:
- The article emphasizes the pivotal role of Amazon's management team and its CEO, Jeff Bezos. Effective management is attributed to the company's success.
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Innovation:
- Amazon's innovation is highlighted, showcasing its ability to adapt and introduce groundbreaking products. The Kindle is mentioned as a turning point, and other innovations like Amazon Locker and Amazon Flow are acknowledged.
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Customer Service:
- Amazon's commitment to top-notch customer service is a critical factor. The focus on customer satisfaction, as advocated by Jeff Bezos, is discussed. The article stresses the importance of word of mouth and online reputation in building customer trust.
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Execution Method:
- Despite initial setbacks, Amazon's execution in fulfilling customer orders is commended. The selection of products, global distribution centers, and vendor relationships contributing to efficient order fulfillment are highlighted.
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Wide Diversification:
- The article underscores Amazon's evolution from an online bookstore to a diverse marketplace offering a wide array of products. The company's fearlessness in selling anything and everything is considered a key driver of success.
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In It to Win It Mindset:
- Jeff Bezos's relentless drive and innovative mindset are credited for Amazon's transformation from a loss-making venture to a profitable industry giant. The company's continuous growth is attributed to Bezos's forward-thinking approach.
Bonus: Affiliate Program and Dropshipping:
- The article touches on the significance of Amazon's affiliate program, acknowledging it as a major factor in the company's growth. The global participation of affiliates in promoting Amazon products is highlighted, along with the mention of dropshipping practices, which further contribute to Amazon's expansion.
In conclusion, the success of Amazon is multifaceted, encompassing effective management, innovation, customer-centric strategies, efficient execution, diversification, and a visionary leadership mindset. The inclusion of the affiliate program and the adaptation of dropshipping practices add further layers to the comprehensive growth strategy employed by Amazon.
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