Amazon is, without a doubt, the biggest online retail experience that’s used and adored by millions of individuals and businesses around the world every single day. It’s the best of the best when it comes to companies and the way it’s grown over the last 15 years, and any business could look at Amazon and learn a lesson from them.
Learn a lesson from Amazon? Well, of course! Who wouldn’t want to be as big and as dominating as Amazon? With this in mind, today we’re going to look into the five core B2B lessons Amazon can teach you, help you to determine how to run your B2B business in the best possible way.
It’s All About Customer Experience
There’s no avoiding this. Amazon is where it is today because it’s proactively aiming to deliver the very best customer experience possible. It offers free next-day delivery on a vast majority of its products, the customer service support lines are always available and happy to help and the website itself is designed to be the easiest and most flawless experience.
As a business yourself, you need to incorporate this into your business. Always be aiming to give your customers the best experience you can in order to keep them around and happily attract new customers to your cause.
Detail Your Products
When you’re shopping on Amazon, you can easily see a ton of information has been written about each product, and this is a key point you’re not going to want to miss. Because there’s so much information on each product, and a customer can easily have all their questions answered, there’s no room for them to get turned off buying a product.
If a customer doesn’t know a certain aspect of a product, they can easily think ‘okay, this isn’t for me’, a thought process that Amazon eliminates by giving you literally everything, even a public customer Q&A section.
Be an Easy Brand to Find
Another key point to consider. If I say ‘Amazon’, you can bet that 99% of people will know what I’m talking about. This is the level of branding you should be aiming for your business to have. Having such clear and concise branding means you can rank highly in the search engines and can be easily found, as well as easily memorable.
Buy Their Market Share
Amazon has famously been buying up companies for years, which has massively increased its market share. Sure, this won’t work for all B2B businesses, but it’s clearly worth thinking about if you have the opportunity. The more businesses in your niche and industry you can buy up, the less competition you’ll have and the more money you’ll make.
Upselling and Cross-Selling is Everything
The final point you need to think about is how well Amazon can upsell and cross-sell their products. Look at any product page on Amazon and you’ll see a full range of recommended and sponsored products that are similar to what a customer is buying. You’ll also see sections like ‘customers also bought’ products or what goes well with the product they’re buying.
CEO of Amazon Jeff Bezos has admitted that upselling and cross-selling in this way has added a massive 35% to Amazon’s bottom line. This is easily one of the most innovative B2B lead generation solutions and ways to market products, so dont’ ignore it!
Clearly there are some powerful lessons to be learned from Amazon and the way they do business. Sure, not every lesson is going to be applicable to every B2B business, but the more you can educate yourself and the more strategies you can consider, the more chances you’ll have at running a successful and growing business.