Making Money Online The Amazon Way
In December I decided to do some of my Christmas shopping on Amazon and was blown away how easily Amazon kept making me buy more and more things. In 2008 Amazon accounted for 8.2% of all internet sales. Because of this I have created a list of 11 techniques that Amazon uses on their website that you can apply to your online business.
Obviously everyone wants to be successful, but I want to be looked back on as being very innovative, very trusted and ethical and ultimately making a big difference in the world – Sergey Brin
Over Christmas Amazon sold 6.3 Million Items in a single day, 72.9 items a second and managed to ship 5.9 million items in a single day!
11 Techniques Amazon Use To Destroy Their Competition and Earn More Money Online
Recommends Products To You
Amazon have created their own algorithm so that it can record ever product you look at and then can recommend you related products that you may want to also buy.
Video and Text Testimonials
Text testimonials are great for selling a product but in the back of peoples minds they always think that it could be just been made up to make you think the product was great. With video testimonials you know that the testimonial is from a real person and because of this the conversion rate for a product with video testimonials can really do a lot better. I have even heard of interent entrepreneurs sending their customers a webcam for FREE so they can create a video testimonial for them, he later told me that because of this his converions went up 43%! Money well spent?
Christmas Wish List
Every Christmas I would be asked by family and friends what I would like and I would do a email to them all with a few things I would like and they would have to go out and find them themselves. Last year I sent a Christmas Wish List which made it even easier for me because I could show them exactly what I wanted and they could choose what they wanted to buy me and once they have bought it, it would be taken of the list. Amazon don’t just do this at Christmas time, they do it for Weddings and baby registry.
Today’s Deals
Daily deals to make people take action! Once in a life time opportunities work great! I always find my mum coming home with something we don’t really need from the supermarket just because it’s half price or buy one get one free.
Gift Cards
Can’t decide what to get someone? Or you are just to lazy then gift card works great, it showed you at least cared a little.
Up-selling
Even when you have decided what you want to buy and are about to pay, they still try to sell you something and with just a click of the button it can be yours!
Your Recent History
This is probably the most powerful tool Amazon use, they store information on what you have been looking to buy and next time you visit the site they show it again to you on the homepage. This will jolt your memory and you will consider buying it again.
Frequently Bought Together
If you are looking at a product they will also offer you a few other products that are related.
Today’s Best Sellers
Amazon tell you what the best selling items are, if you are at least interested in that item then you are likely to buy it just because so many other people are.
Gift Guides
They will tell you what people want!
Cheap!
This is because they can sell so much more than everyone else that the manufacturer can sell the product cheaper to Amazon so they can sell it to us for cheaper. They also are able to cut the amount they spend because they have no stores on the high street which is one of the main expenses of any company.
To our success in 2009,
Michael Dunlop
PS. Which of these techniques do you think you can apply to your online business?
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Always good to learn from the best in the business! Some great tips here for people to take ahold of.
Wow so Amazon really got their ideas down pat; going strong for 2009 they are 😛 .
Personally, not sure which ones of those would work for my online venture, but I’m sure they’d work for someone (other than Amazon of course).
Great website – could be used as a model for others!
One tip – I’ve lived in the UK so I know what the “high street”
refers to – many “Yanks” don’t – we say Main Street or one expression that is becoming more common when referring to “high street shops” is “brick and mortar stores”.
with respect,
James Colt
jclt777 on Twitter
What I love about Amazon is that it is so easy with so few clicks needed. In terms of their algorithm, can still use some work. When I was in college, I bought a text book for class and i’m still getting emails that I may like related text books on subjects I would never look back at.
They may want to take reason for buying into consideration in their algorithm.
I’ll add:
-free shipping for totals of $25 or more on items shipped directly from amazon. This surely makes some customers buy 2 things they normally would have bought separately to save what would have been $8+, and free shipping is always attractive.
-good customer service compared to other sites; easy ways to return items.
-They send an email a month later asking to review the product. This gets them back, and gives others incentive to buy after reading your review.
-Good site design and navigation- I guess it just looks better and is easier than ebay in my opinion.
The recommendation process was key and a great innovation. It’s great for blogs too. If you know you’re audience well cross-market your content within a site or with several sites.
Its all about the customer experience and making their visit more friendly each time.
Blogs are great because of the more intimate communication compared to amazon, so that is one big advantage. I think direct one on one communication is a must for the next wave of online business because customer service overall sucks, we all have seen this in this decade.
Your Recent History would be nice to apply to a blog somehow. Show the reader the posts in which category they’ve tend to read and comment on most and supply them with posts they haven’t read yet in that field. This way you allow your older posts to be read and you’re giving the reader what they want.
Anyone know of a plugin like that by any chance? Or can create one? Contact me if you do or will. Cheers and best of luck to the lot of you!
Just to add to my previous comment. The way you’d suggest posts they haven’t read is seeing the ones they haven’t commented on. This would also encourage people to comment more often.
By the way, Michael, how come there’s no Subscribe to Comments plugin installed here? Or is it that I’m just going blind and can’t find the button?
Very true, Amazon does an excellent job, and does things to keep return customers, such as lightning fast shipping, things that keep you wanting to buy more. Good things to think about no matter what type of business you have.
8.2%?!? That’s an amazing figures.
Nice techniques you list. Those are part of the reasons amazon blew wall street’s earnings estimates out of the park last week.
I hope it continues.
yes i agree with you.
THANKS