Another successful Amazon Prime Day, or days to be more accurate, is now in the books. Amazon understands customers and knows what Prime customers want. If you are a small or medium-sized business, why not implement some of the genius strategies of Amazon to improve your own business?
How Successful Was Amazon Prime Day This Year?
All the stats are not yet in, but based on a post-Prime Day press conference, Amazon once again did what Amazon does best on Prime Day:
• Amazon Prime Day 2019 was more successful than Black Friday and Cyber Monday combined!
• Over 175 million products and items were purchased throughout the world during the 48-hour Prime Day event.
• More than 1 million deals were offered on Prime Day exclusively to Amazon Prime members.
• Amazon Prime shoppers collectively saved over $1 billion.
• This Prime Day was the most successful ever for Kindle and Fire devices.
• Amazon Prime Day is now offered in 18 countries.
• There are over 100 million Amazon Prime members worldwide.
Why Is Amazon Prime Day Important for Small Businesses and Entrepreneurs?
• Small and medium-sized merchants and businesses also achieved record-breaking Amazon sales on Prime Day.
• Products from these independent businesses are sold via Amazon throughout the world and receive greatly increased sales, visibility, and traffic on Amazon Prime Day.
• Third-party sales this Amazon Prime Day exceeded $2 billion.
What does all of this mean in a nutshell? Amazon Prime Day benefits everyone, from Amazon itself, to all the third-party vendors on the Amazon platform, to Amazon Associates, and to Amazon Prime customers.
What Lessons Can Your Business Learn from Amazon Prime Day?
Serve the Needs of Your Customers and Clients.
Determine what your customers are searching for. Provide solutions to their problems. Improve their lives with innovative products and services. (Amazon offers products and solutions for almost every aspect of its customers’ lives, including groceries and super-fast delivery. Amazon Prime Day offers customers deep discounts and incredible deals.)
Go the Extra Step in Providing Excellent Customer Service.
With the convenience of chatbots, there’s no reason your customers can’t reach you 24/7, on any platform, 365 days a year. You can automate almost anything, but also providing personalized touches in customer service will encourage happy, connected, and engaged customers. (Amazon Prime customers are extremely loyal and engaged.)
Develop Products or Offer Services That Make Your Business Stand Out
Establish yourself as the authority leader in your niche. Gain social proof by nurturing a positive reputation. Strive for satisfied customers and encourage them to write positive reviews on social sites.
Offer products that exceed expectations and customer service that demonstrates your business develops relationships and connections with your customers.
Create an omnichannel experience for your customers so they can find you wherever they are searching or shopping.
Make It About More Than Just Sales
On Amazon Prime Day, millions of Prime members enjoyed the Twitch Prime Crown Cup. Amazon Music presented the Prime Day Concert headlined by Taylor Swift.
Amazon makes Amazon Prime Day much more than just a day of sales. Prime Day is becoming an entertainment experience, an event for Prime members that transcends shopping.
Develop Your Brand Identity and Reward Loyal Customers
Amazon Prime Day is exclusively for customers who are Amazon Prime members. Amazon encourages customer loyalty and makes it very easy for customers to want to buy from Amazon. Amazon Prime members not only look forward to the annual Amazon Prime Day; many of them budget for it, plan purchases around it, and anticipate it with excitement.
Find a way to create and leverage that customer loyalty for your business brand. Make your customers want to buy from you again.
Develop connections with them on social media, newsletters, webinars, lives, fun events, and anything else you can think of. Offer innovative promotions that are for members-only customers.
Amazon Consistently Overdelivers. So Should You.
The value offered by Prime membership vastly exceeds the price tag. Amazon overdelivers with great prices on products, selection, fast delivery, entertainment, extraordinary customer service, and many details, big and small. Offer your customers exceptional value and exceed your customers’ expectations.
This is the fifth annual Amazon Prime Day, and each year Prime Day is more successful than the last. Take some time to study why Amazon is so successful in building and maintaining a loyal tribe of customers, and implement the lessons from Amazon Prime Day to boost your own business.