The global consulting agency FaberNovel recently produced 72 page in depth report on how Amazon accounts for one third of all US ecommerce transactions. You can read the full report below.
We’ve distilled their report into 5 key points
1) Focus Ruthlessly on Your Customers
To quote Amazons CEO Jeff Bezos – ”Be afraid of our customers as these are folks who have the money. Our Competitors are never going to send us money”.
2) Use Data Effectively
You don’t need massive data warehouses such as Amazons, just the right frame of mind to ensure that you’re collecting the right data and then analysing it correctly. Excel and it’s Pivot tables are a great place to start
3) Make It As Easy As Possible To Order From You
Just like Amazons 1 Click order system, remove every obstacle that may prevent a customer from ordering from you. If you don’t know your obstacles, ask your prospects and customers what they are and how you can make their life easier. A visitor pop up survey is a good place to start
4) Get Your Customers To Sign Your Praises
Amazon invests a lot of time in getting people to review their products and usability research indicates that people are placing greater faith in them. Even if you’re not selling products online, testimonials from satisfied customers certainly help
5) Take Advantage of Low Cost Open Source Technology
Amazon was a very early adopter of Linux and open source as they saw the money saved on expensive Microsoft licences was spent elsewhere. Content management systems such as WordPress or Cloud based systems such as Amazon’s S3 offer capabilities for pennies which ten years ago would have cost hundreds if not thousands of pounds
If you’d like to know more about Digital Nation can help you understand you customers better (point 2) or knowing what obstacles your customers might encounter (point 3), call us on 0207 993 5482 or email