“Most importantly, we are relentlessly customer focused. Our goal is to be the most customer-centric company on the planet.” – Jeff Bezos
It’s a strong statement — one that should be in Great, but that’s another thing be able to The best on earth at anything. There’s only room for one. Yet, again and again, you take a walk. As a brand, you listen to your consumers and do your best to help people make the decisions that are best for themselves. I couldn’t justify the , but let me at least share some highlights of my admiration.
First, they seem to understand that a core psychological motivation is to reduce uncertainty. This is a topic close and dear to my academic life, and I can attest firsthand that uncertainty is a powerful and motivating force. Whether it’s leveraging the power of other consumer reviews, recommending similar products, or evaluating consumers’ own previous purchases, there are mechanisms that help reduce consumer uncertainty. . Understanding and responding quickly to consumer needs is a key component of good marketing. This approach allows both brands and consumers to win. In fact, the strong consumer-brand relationship is mutual rather than parasitic. I gave a lecture on uncertainty reduction, and Amazon is definitely doing it right.
Second, the service and loyalty program have a long history in marketing, but with Amazon Prime they created something unprecedented. The numbers speak for themselves. Over 200 million people believe that becoming an Amazon Prime member is worthwhile. Naturally, I am one of them. By some accounts, the Amazon membership service he has generated over $25 billion. Prime Day alone is associated with over $11 billion in sales. However, it is not just numbers, it is that we have provided what consumers want and created services.
If you know what you truly stand for, the product or service you offer doesn’t have to be. … [+]
Third, our commitment to being “the most customer-centric company on the planet” has enabled us to expand our product offerings. You have gone from books to offering a wide variety of retail goods. But that’s not all. Through online streaming, cloud data, and even his workforce online via Mechanical Turk, he found the potential to meet his values. In fact, this is a powerful marketing lesson. The product or service you offer need not be narrowly defined by what was originally sold if you know what you really stand for.
My respect for your brand goes beyond your commitment to the consumer. You’ve only been in the business since 1994, but you act like you’ve been in the branding business for a long time. Each year, as part of our activities here at Kellogg’s, we gather to view and evaluate the Super Bowl ad pool. We used this venue to not only communicate our products, but to bring our brands to life.
For example, in our 2020 spot, we asked what life was like before Alexa. In our 2021 spot, we humorously used Michael B. Jordan to personify Alexa. And in 2022, he continued to showcase Alexa’s capabilities with a creative piece featuring Scarlett Johansson and Colin Jost. Impressively, they used advertising to communicate the functional benefits of their products while building an emotional connection with their consumers. Building a brand’s personality is often a long and arduous road, but Amazon has done it in style.
Please let me tighten one last point. The digital age of advertising has revolved around the ability to collect massive amounts of data about consumers. Laws and regulations regarding the information that can be tracked and obtained about consumers are subject to change over time. I think consumers will have more say in how their data is used. We also expect brands that listen and understand consumer psychology regarding their needs and desires to earn their trust. This trust results in a mutually beneficial relationship between consumers and brands. I think our strong affinity with consumers has an edge in this regard. We look forward to seeing how we continue to navigate these developments.
I would love to hear more about what you are working on. you know my address! Of course, the holiday season will be busy, so please be patient.
Derek
