It’s safe to say that Amazon is one of the strongest companies in the world and for a good reason! It’s all about expanding, making things bigger and faster and it all comes down to using the right tools to achieve that. With today’s technology, the options are limitless, so making sure you use this to your advantage can greatly boost your business! But before you jump into it, it’s best to take a look at successful companies like Amazon and see what works for them and learn to apply those tools to your business!
Analytics and data
Probably the easiest way to reach success is to use the given data and analyze it. Big companies like Amazon heavily rely on the data they receive back in order to further optimize their workflow. Whilst there are many tools for data analysis, choosing the most suitable one is key for every business. Understanding the logistics behind Jungle Scout vs Helium 10 or just understanding how the market data can work will set any business in the right direction. The technology is always changing, and the tools are advancing, but one thing is clear – data analytics will always be important! When it comes down to it, it’s not all about gathering the data directly, but finding ways to obtain the same knowledge in other, often more efficient ways!
Nowadays, people rarely watch regular TV – the majority prefer popular streaming services like Netflix or HBO. Similar to this, Amazon came up with their own streaming service called Amazon prime, which people can use and watch a plethora of popular TV shows and movies. But that’s not all, since the gaming industry is booming, Amazon has expanded their services to that industry as well with Prime Gaming. With in-game loot and subscriptions, it’s safe to say that this kind of approach is more than lucrative since the gaming industry is only expanding! Also, it’s making things much easier for people who enjoy games as it brings them closer to them!
Drones and faster shipping
Amazon wouldn’t be where it is now without satisfied customers which came from fulfilling their needs. In order to create a powerful and successful business, being able to understand the customer and their needs is a must! No one likes to wait, so cutting down the shipping time is something that can always be improved, and Amazon has big plans to focus on drone shopping in order to ship things faster. This can completely change the game, allowing people to receive items in 30 minutes from ordering them – when counting how much time is spent on transporting items on land, doing it by air is the future!
AI and machine learning
Once considered science fiction, artificial intelligence is making its way into our day-to-day life. Amazon is already one step ahead with its innovative digital assistant Alexa, which took the world by storm! It even allows customers to order things on the spot, which is great since customers can make a purchase anywhere inside their household, not just their desktops! This is brilliant as it definitely boosts sales and just makes people’s lives easier on a daily basis. Amazon is constantly working on improving its technology, adding things such as AI and robots is definitely already in the works! Regardless if it’s adding robots in warehouses and cutting down heavy manual labor or providing their customers with equally useful gadgets – it’s something to look forward to!
Being up to date
Sure, using the right tools will definitely help with bringing the products closer to the customer – but Amazon is filled with various items that are similar or even the same, so only relying on technology won’t do no matter how advanced it gets. Since the marketplace is overflowing with new competition each day, focusing on the brand image and using it to the company’s advantage is a great bonus to boost the success rates. Having a strong brand image mixed with using the right tools will surely help out any business, the technology will evolve but this aspect will stay the same – Amazon became what it is today thanks to its brand and its willingness to try new ideas!
At the end of the day, new tools and mechanisms are being created all the time, to accompany the needs of consumers – so it’s constantly changing and prospering. Being open to new ways of marketing and always being up with the times is key in reaching success – as big corporations like Amazon are striving to do! In a way, Amazon is definitely paving the way for other companies with their tools and way of doing business, so in a way, it is futuristic!
Founder Dinis Guarda
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news and distribution to create an unparalleled, full digital medium and social business network spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems.