October 30, 2013
“The future of data is focused deadly on the customer experience and the ability to be agile,” said Bryan Eisenberg from the stage at today's ClickTale’s “Converting Behavior to Business” Forum. And according to the online marketing guru (and Monetate strategic advisor), no one is shaping the future like Amazon.
“When Jeff Bezos first started Amazon, he said that the single most important thing is to focus obsessively on the customer,” ruminated Eisenberg. “His goal was to become the earth’s most customer-centric company.” And considering that today Amazon’s responsible for 30% of all global ecommerce sales, two-thirds of all its traffic is returning visitors, and its customer experience is ranked 13% higher than their competitors in the U.S., it’s easy to see that Bezos achieved his lofty goal in spades.
“It’s really hard to replicate Steve Jobs. He was a crazy and brilliant man. And so is Jeff Bezos. But what he’s doing with Amazon is actually replicable,” said Eisenberg.
To prove his point, he asked the audience to name some of their favorite brands. And as the crowd revealed the names of some coveted brands, ranging from Apple and Google to Starbucks and Nike, Eisenberg states that just like Amazon, those brands all have one common thread—they’re all masters of the customer experience.
So what’s in Amazon’s secret sauce?
A whole lot of data. Amazon is a data-driven company. Everything involves real-time optimization. There no physical borders. By levering technology and customer data, Amazon can tell exactly what you like, and offer you experiences that are suited specifically to you.
“What Amazon has done with data is so brilliant,” Eisenberg said. “Think of their product page. How much content on the page has Amazon created itself? None! It’s all customer reviews. But they've taken data and made widgets on their page that we see as a benefit to us, they offer us customers who bought this also bought, they show us related items.”
“Think about it,” said Eisenberg. “If Amazon has been doing over 200 tests at any given time since 2004, how many more learnings have they had than you?”
According to Eisenberg, there are three secrets to conversion success: customer centricity, continuous optimization and corporate agility. But ultimately, these aren’t short-term things. They have to become a part of the everyday culture. It involves getting rid of organizational silos and having more real-time agility between the marketing and analytics teams. And most importantly, in order to be successful, these three tenets must become a part of the culture—from the top down.
“Bezos is a visionary,” said Eisenberg. “CEOs need to have accountability of conversion. But this has to reside at the CEO suite. The next generation of CEOs will focus on the customer experience.”
Want to read more about how Amazon offers up the winning customer experience? Check out why Bruce Ernst, Monetate’s vice president of product management, loves the brand.
Image courtesy of WSJ/Keith Webb.