Amazon is an online shopping Juggernaut that started as a major source of competition for booksellers all across the country. Over the years, Amazon has branched out into everything from clothes to popcorn to skateboards. Amazon even sells auto parts. With the launch of Amazon for Business – formerly known as Amazon Supply -- Amazon entered the B2B marketplace. Some see it as a competitor, but like anything else, it provides an opportunity to observe, learn and apply those lessons as you grow your own business.
Know Your Customers
A large part of Amazon’s success is rooted in its ability to gather data from customers and understand what customers want. Find a way to show your customers that you know what they want and need, and you’ll earn their loyalty. Follow up with customers who display interest in using targeted remarketing campaigns.
Offer Good User Experience
Would Amazon be successful if the website was clunky, confusing and hard to navigate? No way, José. Amazon’s site has many customer-friendly features built right in. How can you offer the same (or better!) ease-of-use to your customers? Here’s how:
Faceted Search
Build a faceted search platform that helps users find the right product through a series of product attribute choices
Better Pricing for B2B Clients
B2B customers will pay lower prices than consumers pay when buying from Amazon for Business. When customers perceive that you’re giving them an advantage, they’re much more likely to buy from you
Product Comparisions
Improved options for product comparisons that help users compare products easily.
Program Interfaces
Application program interfaces that link purchases with your customers’ back-end ERP systems.
Quality Service
Continue to provide the same services that your customers have always appreciated, such as PO support, phone support, credit and limits by user.
Be Ambitious
Amazon started out as a bookseller, but from the very beginning, Amazon CEO Jeff Bezos intended to create a site that sold everything. By starting with books and building on that success, Amazon was able to branch out into other areas. Decide what your ultimate goal is, and work backward from there.
Learn All that You Can
Amazon bought a website called SmallParts.com and used it to learn about the B2B supply business. Then, it changed the name of the site to Amazon Supply. If you want to go in a new direction, find someone who is already there and glean as much information from them as you possibly can.
Final Takeaway
There’s always something we can learn from the giants in our midst. Pay close attention to what Amazon does, find a way to make it work for you and your customers and reap the benefits.
Amazon is an online shopping Juggernaut that started as a major source of competition for booksellers all across the country. Over the years, Amazon has branched out into everything from clothes to popcorn to skateboards. Amazon even sells auto parts. With the launch of Amazon for Business – formerly known as Amazon Supply -- Amazon entered the B2B marketplace. Some see it as a competitor, but like anything else, it provides an opportunity to observe, learn and apply those lessons as you grow your own business.