Monday, April 28, 2014

SFIMA Pubcon Keynote: The Key to Amazon's Empire

Last Thursday was the SFIMA / Pubcon Annual Summit at the Fort Lauderdale Convention Center. With 18 sessions, 2 keynotes and over 30 of Digital Marketing's best internet gurus it comes to no surprise there was only a 1% no-show rate for the 200 marketers that registered for the event. 

The morning keynote was presented by Jeffrey Eisenberg, Co-founder of FutureNow Inc. and author of 'Call-to-Action' and 'Waiting for your cat to bark?', about the '4 Pillars of Amazon's Success'. His one hour keynote was extremely informative, given Amazon is very secretive about their business strategies. 

The 4 Pillars of Success are as followed:
  1. Customer Centricity
  2. Continuous Optimization 
  3. Culture of Innovation 
  4. Corporate Agility
First is Customer Centricity. "80% of Company's believe they are customer centric; 8% of their customers would agree".  Amazon has focused their company on giving the consumer exactly what they want - better customer centric service with lower priced items. 

Amazon offer Continuous Optimization. They focus on 4 key points for their optimization objectives:
  • Selection
  • Price
  • Availablility
  • Experience
This continuous effort from Amazon has shown that 2/3 of their web purchases are returning visitors; and not only are they returning, but they visit Amazon 3x more and spend (on average) 3x-5x more than new customers. 

Apple is not the only business to be successful in the Culture of Innovation. When analyzing the data of Amazon's reports they look at the data not as a "here it is" but rather a "here is what it could be". Amazon has also created the next generation CEO with the title of the "Customer Experience Officer". With making the head of the company's focus on the customer experience, Amazon is taking customer service to a whole new level. 

Corporate Agility is the ability for a business to adapt rapidly and cost efficiently in the corporate world. Amazon has uses different software to help with their agility opportunities. One software that is used is for Amazon's pay-per-click marketing campaign is DataPop. DataPop has allowed Amazon to create high-performing, customized, relevant ads that have in-turn doubled Amazon's PPC conversion rate and lower their cost per lead. Through DataPop's dynamic keyword ad strategies, Amazon is able to provide more relevant and targeted ads that result in a better customer experience and more sales. 

BloomReach is a software used to help Amazon's Organic ratings on all search engines. BloomReach's data driven technology has allowed Amazon to deliver relevant content that has optimized the customer's experience across multiple channels. Neiman Marcus released statistics after using BloomReach for SEO purposes and confirmed a 31% increase in organic reach! 

The SFIMA / Pubcon Summit was a great one day conference that targeted all areas of digital marketing. If you were not able to attend the conference, Pubcon Las Vegas is from October 6 - 9, 2014 at the Las Vegas Convention Center. If you are interested in attending please contact Joe Laratro for an exclusive coupon code. We hope to see you there! 

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