$1 Billion in sales in one day! That’s what it is estimated that Amazon did during their Amazon Prime Day recently. But how is this possible for a company which just over 20 years ago was not on anyone’s radar except for avid readers intrigued by the ability to buy books online? The answer…VALUE!
Amazon understands that true Value is not just about the “what” and “how” you buy, but the “impact” of the what and how.
Jeff Bezos, founder of Amazon, didn’t create the internet and he wasn’t the first to peddle wares on the world wide web. However, he has become the leader in fully grasping and executing the need for a 360 degree value-based relationship between customer and retailer through the web. To the consumer, he has bridged the gaps between need, want, time, safety, security, and savings. This is because at the core, Amazon understands the impact its’ strategy, process and people has on consumers and the marketplace.
The customer demand was already there. As such, Bezos didn’t have to re-invent the wheel, rather he purposefully set out to understand exactly what type of wheel was wanted. He gave deliberate focus to the customer experience and the impact he could have along the entire customer value chain.
Take the Amazon Locker program for example. Christmas packages and parcels were at risk of being stolen and customers were missing their mail package delivery. Realizing the impact of this and understanding the relationship between impact, value and customer retention; Amazon pivoted and created Amazon Locker allowing customers to select a self-service delivery location to pick up packages thus removing the risk, increasing security, building confidence and delivering value.
Amazon’s presence in all facets of our lives is driven by their ability to tap into our needs as consumers for convenience, affordability, choice, access, exclusivity, and value.
But Amazon’s greatest accomplishment is the bridging of basic human needs with the understanding of the impact in our lives all of these needs have.
If they continue to remain vigilant of this recognition and expand into new markets at their current pace, Amazon Prime Days can expect to see even greater rewards in the foreseeable future.
By Al Emerick and Casey Wingerter
Al is the founder of Value Mapping™ and has been a passionate brand enthusiast and consultant for over two decades. Everything Al writes is designed to help others reach their potential and become wildly happy. Contact him directly via firstname.lastname@example.org or check out www.valuemapping.com.