Wednesday 7 November 2012

Amazon's nine steps to success - Bezos' formula

A great article in spells out Jeff Bezos’ secrets in driving a $48bn company growing at 26% CAGR.

Amazon's formula
Ranging from taking a long term view of 7 rather than 3 years, reducing customer service by getting it right first time, use of lower margins to build loyalty, managing detail, starting with consumer need and working backwards, innovating rather than copying, working hard to charge less, and rocking-the-boat to make a difference, the Amazon checklist provides a practical basis for optimising your relationship with the world’s largest online operator.

More importantly, by applying the same principles in-house, realistic NAMs will not only achieve a better match with Amazon, but could also evolve a simple, but effective customer-focused  strategy going forward…

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