If you've ever purchased a product from Amazon, you've likely had an exceptional experience. You've also likely heard that Amazon is worth over $1.5 trillion, making it the 3rd largest company in the world. So how did they manage to pull that off!? Stephanie Camello explains some key factors she thinks made Amazon so incredibly successful.
Customer-Driven
1) Led by their fearless leader Jeff Bezos since 1994, the executive team has made some very smart business decisions over the years that are continuing to pay off.
2) Literally anything you could think of to buy can be found on their site. They buy products and make their own with their unique private label brand name called "Amazon Basics".
3) Their customer service is superb and set the bar for everyone else.4) They provide extremely quick delivery turn around times.
5) Their logistics system is unparalleled. They know exactly when your package will get to you and they have warehouses and huge distribution centers all across the U.S.
6) They created the easiest delivery and return system with multiple drop-off locations they call "Amazon Locker."
7) They've established dozens and dozens of segments and divisions (Alexa, Nest, Audible, Firestick, AWS, Amazon Music, IMDb movie database, Prime Video, Zappos, Amazon Fresh, and PillPack, just to name a few). They basically have a product for every aspect of life. From books and movies to groceries, fresh food, pharmacy prescriptions, streaming services, clothes, shoes, dog treats, kids toys, and the list literally goes on and on!
8) They've become experts in making profitable acquisitions (Ring, Zappos, Whole Foods), they make their own off-shoot brands like PillPack and EastDane and they've improved on their basic offerings through exceptional customer service and return options.
9) They have a reward system for customers and a premium paid version of their services called Amazon Prime which comes with Prime Video, their streaming service.
Customer-Driven Employees
Internally (by looking at their careers site) they focus on a few key principles all driven around their mission statement "to be Earth's most customer-centric company".
1) They interview for and train employees to follow several key principles that make Amazon unique, like being customer obsessed, being curious, constantly learning, having high standards, diving deep in your work, and delivering results to name a few. (Taken from their careers site).
2) Branding. Ever notice you don't see an overdose of Amazon ads? They've managed to master their services so well that there's little need for advertising. Their products and services speak for themselves and word of mouth made them huge. Now, huge brands pay them money to advertise on their platforms! The best kind of advertising is not having to advertise at all - that's how you know you're doing it right.
Through their high employee standards, fantastic products and amazing customer service, Amazon pretty much has every market on Earth cornered. And not only are they present in many industries, they also come in and disrupt existing industries by improving on time-tested strategies or coming up with new streamlined products and services!
With all this evidence, Amazon certainly is a mighty force to be reckoned with. Stephanie Camello thinks Amazon is simply "amaz'n."
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