Amazon ( https://amzn.to/3pFszGo ) reported net revenue of almost $470 billion in 2021 It is the world’s second company to be valued at $1tn
Here are 10 marketing
Tricks Amazon uses:
1. Creating Scarcity
The scarcer a product is, the more people want it. Amazon creates the illusion that itโs about to run out, It does it by showing a certain number of an item left in stock
2. Setting a Deadline
Most people put off buying if they know there’s no rush Amazon uses a countdown timer on their site to Show viewers how many days, hours, and minutes they have to decide
3. Price anchoring
Amazon creates an illusion that users are saving MORE In every product it includes: -List price -Recommended retail price -Saving Amount
4. Upselling Products
Everyone wants to get good deals, Amazon shows another product that complements existing purchase, This gets more sales in the process.
5. Creating social proof
Customers buy from people they trust Amazon uses 5-star ratings and honest customer reviews to persuade people, This helps them not struggle to convince people
6. Adding Trust
Amazon adds a "bestseller" tag to gain more trust, This helps them to: -Sell Faster -Gain Trust -Get more customers
7. Manufacturing best-selling products
Amazon manufactures products that sell a lot, This helps them make MORE money than eating commission, Plus most of the time Amazon will label its manufacture’s product as "Amazon choice"
8. Creating Ad Platform
Amazon is one largest ad platform It takes money from sellers to promote their product This helps sellers give more visibility and Amazon more revenue
9. 1-day delivery
Amazon tricks users to get the fastest delivery by making them pay for prime membership Once they get all the benefits, it’s hard to undo Plus this also makes the user buy more stuff
10. Using user data to customize the feed
Amazon has a ton of user data from what you bought to what you clicked With the help of user data, it provides you with a customized feed You are most likely to buy the product when you see it everywhere
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