
Amazon, the company that offers everything from A to Z and has had a seemingly unstoppable rise from a garage with desks made from doors to the technology and E-commerce giant they are today.
Their visionary founder Jeff Bezos made decisions early on in the company’s journey which led to them becoming a behemoth of technology earning $469.8 billion in revenue last year from all their various business interests in a multitude of sectors of the market.
You may think of Amazon as a retailer however the majority of their profits (74%) comes from their cloud computing division Amazon Web Services (AWS) which provides the technological power behind Netflix, AirBnb, Formula One and Yelp.
Throughout their history, especially in more recent times, Amazon’s ruthless promotion strategy has significantly contributed to their success.
In recent years, Amazon’s adverts have tried to promote that this global conglomerate who doesn’t have the greatest track record for ethical issues seem ‘wholesome’.
This has included adverts about electric vehicles and how they are decarbonising their supply chain with another campaign about the women who work in their delivery stations from disadvantaged backgrounds. In a world where people are more socially aware about issues it’s definitely a step Amazon needed to take after problems they have had in the past.
Amazon are masters of making you spend more money than you ever intended through their website, they do this in a variety of ways but one of the key methods is through Amazon Prime.
For those of you who have been living under a rock, Prime is Amazon’s subscription service that incorporates speedy delivery, ebooks, music and TV all for a fixed fee.
The first element of this (and the most important) is the fast delivery that for many is next-day. This means that customers are more likely to spend more often with Amazon as they can get your orders to you quicker than their competitors while the fact you have paid makes you want to maximise the deliveries.
Another key part of the Prime strategy is the 30-day free trial that they offer to new and existing customers on rare occasions. This not only gives customers the opportunity to try the service before committing so they gain more subscribers but the apathetic customers will let it auto-renew and just hand Amazon their cash.
For me, Amazon are a genius and ruthless company that have never stopped which has led to their seemingly unstoppable growth. Regulatory powers have failed to stop the technology and retail giant. ‘Think big’ is one of their leadership principles, I wonder how they can think any bigger in the future.
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