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smart Resources Membership Industries SI Insights Amazon.com marketing strategy 2022: E-commerce retail giant business case study a By Dave Chattey 11 Feb, 2022 Advanced 0 0 Digital rnarl-=.etilig strategy m o o a a Explore our Digrtal Marketing Strategy and Planning Toulkrt i What goes into the Amazon marketing strategy secret sauce? Our business case study explores Amazon's revenue model and culture of customer metrics, history ofAmazon.com and marketing objectives In the third quarter of 2021, Amazon reported net sales of over $110 billion, a 15% increase from $96.15 billion in the same quarter in 2020. This growth is typical of the ecommerce retail giant which continues to lead the way in ecommerce growth. The Amazon marketing strategy we are familiar with today has evolved since it was founded in 1994. Net revenue of Amazon from 1st quarter 2007 to 3rd quarter 2021 (m billion US. dollars) 3 Zwmhle swam: Select the range In the (her! you want In mm m an I Net revenue of Amazon from 1st quarter 2007 to 3rd quarter 2021 (in billion U.S. dollars) " Zoomable Statistic: Select the range in the chart you want to zoom in on. 150 125 100 Revenue in billion U.S. dollars 75 50 25 0 03 26 03 2.23 03 2 Statista 2022 Additional Information Show source O I've highlighted the Amazon marketing strategy case study in my books for nearly 20 years now since I think all types of businesses can learn from their digital business strategy. Their response to the pandemic is impressive but not entirely surprising for a brand that is 'customer obsessed' From startups and small businesses to large international businesses, we can all learn from their focus on the customer, particularly at this time, testing market opportunities made available by digital technology, and their focus on testing and analysis to improve results. Their focus on customer experience put Amazon in the role of a thought leader in e-commerce experience.Their focus on customer experience put Amazon in the role of a thought leader in e-commerce experience. However, whether due to a diminshed customer service, or increasing customer expectations, or a mixture of the two, fulled by a global pandemic - notably, 2020 was the first time Amazon's ACSI customer satisfaction rating dropped below 80 since launch. Currently, Forbes rates Amazon stock as 'unattractive' on their Q-Factor score, closing at $3, 180.07 on 10February 2021. Amazon (AMZN) $3180.07 -43.72 (-1.36% ) As of February 10 4:00:00 PM EST f ID 50 IM 6M YTD TY 5Y Max Open: 3167.00 High:3,214.33 Low: 3155.00 -Close: 3180.07 3,700 3,600 in 3,500 3,400 3,300 3,180.07 3,10 3,000 2.900 2.800 Volume: 3.32M 7M o Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2022 Q-Factor Score UNATTRACTIVE Leveraging Big Data multi-factor models, the Q-Factor View score details Score is assigned to each stock ranging from "Top Buy" to "Top Short". The Q-Factor Score represents an expectation for how a stock will perform in a given month. Powered By Q-ai - Investing Reimagined I aim to keep this case study up-to-date for readers of the books and Smart Insights readers who may be interested. In it, we look at Amazon's background, revenue model, and sources for the latest business results. We can also learn from their digital marketing strategy, since they use digital marketing efficiently across all customer communications touchpoints in our RACE Framework: Reach: Amazon's initial business growth based on a detailed approach to SEO and Adwords targeting millions of keywords.Reach: Amazon's initial business growth based on a detailed approach to SEO and Adwords targeting millions of keywords. Act: Creating clear and simple experiences through testing and learning. Convert: Using personalization to make relevant recommendations and a clear checkout process that many now imitate. Engage: Amazon's customer-centric culture delights customers and keeps them coming back for more. Build an agile, strategic approach to digital marketing Competition is fierce online. To win you need to Plan, Manage and Optimize digital channels against defined targets, SMART KPIs and a focused investment in content marketing, digital media and experiences. We believe an integrated digital strategy is essential to define new Segmentation, PLAN Targeting and Positioning for your online value propositions. Branded Content BUYER STAGE: EXPLORATION KEY MEASURES . Unique visitors REACH Publish and promote you Ment, allow sharing to other outposts . Value per visit networks and influencers. Draw people to your content hub.. Search er . Fans/Followers BUYER STAGE: DECISION MAKING KEY MEASURES 3 . Leads/Lead conversion rate ACT Be worth finding via clear custom . Time on site hub that is relevant inspirational, useful and creates leads . Shares/comments/kes BUYER STAGE: PURCHASE KEY MEASURES 4 CONVERT Sales (on and offine-influence) Captilalive on marketing investment using CRO, marketing automation Revenue/Profit and remarketing to ens Average Order Value BUYER STAGE: ADVOCACY KEY MEASURES 5 ENGAGE . Repeat Purchase (Lifetime Valuel Thrilled customers are key to social media marketing, social proof, repeat . Satisfaction and Loyalty ales and referral. Start your marketing here! . Advocacy - RE-AUTOM Smart Let us know what you think @smartinsights and www.smartinsights.com Insights Looking to optimize your marketing strategy? We've got marketing solutions for your e-commerce business. From startups to retail giants, our bespoke marketing training empowers e-commerce marketers to plan, manage and optimize their marketing strategies, with marketing tools proven to generate growth. Find out more. Is your E-commerce or Retail business competing online? With so much competition, you need to stand out. Use th RACE Growth Process to win more customersAmazon's growth and business model evolution Amazon performs exceptionally efficiently measured against revenue per visitor, which is one of the key measures for any commercial website, whether it's a media site, search engine, social network, or a transactional retailer or offers travel or financial services. Of course, profit per user would be quite different due to the significantly lower costs of other .coms like Facebook and Google. Forbes credits Amazon's success to 3 rules which it breaks, but we 'probably shouldn't'! 1. Strategy is about focus - although Amazon has an incredible number of strands to the business today. 2. Don't throw good money after bad - with criticism in particular of Amazon's investment in groceries. 3. Your core competencies determine what you can and can't do - developing the Kindle with no hardware manufacturing experience. In this way, Forbes outlines a 'risky' approach to marketing strategy which, for Amazon, paid off in dividends. So, there is plenty to learn from studying this company, even if we decide not to replicate all tactics and strategies. Amazon.com mission and vision When it first launched, Amazon's had a clear and ambitious mission. To offer: Earth's biggest selection and to be Earth's most customer-centric company. Today, with business users of its Amazon Web Service representing a new type of customer, Amazon says: this goal continues today, but Amazon's customers are worldwide now and have grown to include millions of Con-sumers, Sellers, Content Creators, Developers, and Enterprises. Each of these groups has different needs, and we always work to meet those needs, by innovating new solutions to make things easier, faster, better, and more cost-effective. 20 years later, Amazon are still customer-centric, in fact, in the latest Amazon Annual report, 2021, Jeff Bezos of Amazon explains customer obsession "We seek to be Earth's most customer-centric company and believe that our guiding principle of customer obsession is one of our greatest strengths.20 years later, Amazon are still customer-centric, in fact, in the latest Amazon Annual report, 2021, Jeff Bezos of Amazon explains customer obsession "We seek to be Earth's most customer-centric company and believe that our guiding principle of customer obsession is one of our greatest strengths. We seek to offer our customers a comprehensive selection of products, low prices, fast and free delivery, easy-to-use functionality, and timely customer service. By focusing obsessively on customers, we are internally driven to improve our services, add benefits and features, invent new products, lower prices, increase product selection, and speed up shipping times-before we have to." We've got marketing tools and templates to help you compete in a challenging environment, grow your market share, and win more customers. Join thousands of savvy Smart Insights Business Members using our marketing solutions integrated across the RACE Framework to drive the results they need. Is your E-commerce or Retail business competing online? With so much competition, you need to stand out. Use the RACE Growth Process to win more customers GET STARTED NOW Amazon business and revenue model I recommend anyone studying Amazon checks the latest annual reports,_proxies, and shareholder letters. The annual filings give a great summary of eBay business and revenue models. The 2020 report includes a great vision for Digital Agility (reprinted from 1997 in their latest annual report) showing testing of business models that many businesses don't yet have. Amazon explain:is your E-commerce or Retail business competing online? With so much competition, you need to stand out. Use th RACE Growth Process to win more customers GET STARTED NOW Amazon business and revenue model I recommend anyone studying Amazon checks the latest annual reports,_proxies, and shareholder letters. The annual filings give a great summary of eBay business and revenue models. The 2020 report includes a great vision for Digital Agility (reprinted from 1997 in their latest annual report) showing testing of business models that many businesses don't yet have. Amazon explain: "We will continue to measure our programs and the effectiveness of our investments analytically, to jettison those that do not provide acceptable returns, and to step up our investment in those that work best. We will continue to learn from both our successes and our failures". They go on to explain that business models are tested from a long-term perspective, showing the mindset of CEO Jeff Bezos: We will continue to make investment decisions in light of long-term market leadership considerations rather than short-term profitability considerations or short-term Wall Street reactions. The latest example of innovation in their business model is the launch of Amazon Go, a new kind of store with no checkout required. Boasting a "Just Walk Out Shopping experience", the Amazon Go app users enter the store, take the products they want, and go with no lines and no checkout