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Amazon Prime Still Keeps Growing

19 Feb

As we know, Amazon dominates the world of online retailing. And it is a very creative firm.  Think about the Kindle, the Kindle Fire, Alexa, and Amazon Prime. [Click here to read more.] Also, it leads online retailers in customer service, including returns, Because Amazon Prime is the basis for a lot of the firm’s success, today’s post deals with Amazon Prime still keeps growing.

Clearly, Amazon itself has been a true marketing innovator. Think of its 2018 Super Bowl Ad for Alexa. Many observers chose it as the best commercial during the game.

And we know that Amazon Prime has been a brilliant program. See Amazon Creates Its Own “Prime” Holiday and Amazon Prime: A Loyalty Program That Really Pays Off .

Thus, it is no wonder that Amazon is the largest online retailer. As well as the number two retailer in overall sales (trailing only Walmart).

 

Amazon Prime Still Keeps Growing

As reported by eMarketer:

“New data from Kantar Consulting estimate that an impressive 45% of households in the US are willing to fork over membership fees to Amazon in exchange for the promise of free two-day shipping on eligible items, along with ancillary benefits like access to Amazon’s library of streamable content. That’s a figure Kantar said is equal to about 56.9 million homes.”

And “According to a report from Consumer Intelligence Research Partners (CIRP) released in October 2017, Amazon Prime members spent an average of almost $1,300 per year on the platform, compared with $700 for nonsubscribers.”

Now, take a look at these two charts developed by eMarketer.

 

The Growth of Amazon Prime

Amazon Primes for More

 

Frequency of Purchases via Amazon Prime

Amazon Primes for More
 

Consistency Makes Good Customer Experiences Better

15 Feb

Consistency makes good customer experiences better for all parties. Thus, we must ask. Are firms doing well with customer service (the customer experience). Or is it just hype? Some firms are doing well, other not so much. And consistency of the customer experience is essential for their loyalty. As a result, customers must be satisfied EVERY TIME they interact with a firm.

According to Forrester:

“Today, there are growing consumer expectations, rising customer churn rates, and more options with lower barriers to switch. Therefore,  a firm’s customer experience (CX) moves to center stage. And CX leaders grow revenue faster than CX laggards. In addition, they drive higher brand preference. Also, they can charge more for their products.”

Before moving to today’s topic, look at these posts:

 

Consistency Makes Good Customer Experiences Better

For this section, we turn to observations by Connie Harrington for Customer Think. First are some insights. Then, we show a few graphics:

“Creating a single standout customer experience (CX) may get a customer’s attention — but does it win their loyalty? Not always. Companies that have made progress along the CX path recognize that delivering consistent experiences across multiple interactions helps fortify customer loyalty. Fostering consistency in experiences is becoming essential as customers use multiple channels to engage with brands.”

 

“According to 2017 research from Forrester, 95% of customers use three or more channels to connect with a company in a single service interaction, with 62% using more than one device. And Accenture research has found that 65% of customers expressed frustration over inconsistent experiences or information presented across channels.”

Consistency Makes Good Customer Experiences Better

Image Source: SlideShare

 

“Today, consumers are more likely to conduct research—and consider multiple brands or products–before making purchases. A recent study found that two-third of customers research products online before shopping for them in a brick-and-mortar store. Over half follow this research online, buy offline process frequently or every time they shop. Many consumers do the reverse as well. In the same study, more than half of surveyed consumers said they will go to a store location to see products in person before buying them online.”

Consistency Makes Good Customer Experiences Better

Image Source: Retail Dive

 

Trust and consistency go hand-in-hand. In fact, McKinsey’s research in the financial found that brands that cultivated the strongest feelings of trust were more likely to deliver consistent customer journeys. Cultivating trust can have far-reaching impacts on a business. According to the Edelman Trust Barometer, when customers trust companies, they are more likely to believe positive information about the company—and the opposite is true for companies they distrust.”

Consistency Makes Good Customer Experiences Better

Image Source: Clear Action CX

 

Where Do See YOUR Future Career Path

12 Feb

So, how often do you think about this? Where do see YOUR future career path over the next several years? For many of us, we think about it often. While for others, we think about it sometimes. Yet, almost no one answers that they never think about it.

With this in mind, today’s post presents a quiz on this topic. And you can access it below.

 

Background: Where Do See YOUR Future Career Path

Whenever you do a personal SWOT analysis, your future career path must be considered. Because you need to ready for the future. Whether you stay at your current firm. Or decide to move on. Be prepared with a plan a, a plan b, and even a plan c in preparing for future future.

To begin, review these posts:

 

A Quiz: Where Do See YOUR Future Career Path

To assist in planning your career future, HubSpot devised a short, simple quiz. And based it on these factors:

“To help you plan confidently for your next five years, HubSpot has launched a brand new career assessment called The Next Five. Tell us your interests, strengths, and working style, and we’ll help you identify a next step that’s right for your long-term professional goals. Here are the five steps to this career quiz and some initial questions to ask yourself when deciding where to go in your career:

  1. Work Environment
  2. Work Challenges
  3. Happiness Level
  4. Skills
  5. Goals”

Click the image to go right to the quiz. Then, answer the questions. And see what is recommended for YOU.

Where Do See YOUR Future Career Path -- A Quiz

 

Social Media Video Marketing

7 Feb

Social media video marketing continues growing at a very fast rate. As a result, many social media users watch videos on a regular basis.

Take a look at these posts on social videos:

 

Social Media Video Marketing

For today’s post, let us examine three good sources of information on social media video marketing.

 

eMarketer

According to eMarketer:

“Marketers simply cannot afford to ignore video advertising. Thus, eMarketer predicts that video ad spending in the U.S. alone will reach $15.42 billion this year. And it will grow to $22.18 billion by 2021. New research from artificial intelligence-powered video creation service Wibbitz provides some insight into which social media platforms video advertisers should be paying attention to—and it’s pretty much what you would expect.”

YouTube/Vimeo and Facebook are the runaway leaders for viewer participation. To read more, click on the chart.

Social Media Video Marketing
 

Small Business Trends

According to Small Business Trends:

“So what is the right type of video? According to the infographic, hard-sell videos don’t work. Explainer, testimonial, demonstration, and personalized videos have greater success. Seven in 10 people stated they saw content that is interesting from a particular brand in a more positive light.”

“Once you know what type of videos to create, it should be the right length. If the video is too long, the chances of losing your audience increases. Under three minutes seems to be the sweet spot. When it comes to choosing the social media channels, such as Facebook, YouTube, Instagram, Snapchat, or Twitter, each platform has its pros and cons. This will depend on the type of business you have and the demographic you want to reach, according to the data shared by Filmora Wondershare.”

To read more, click the infographic.

Social Media Video Marketing

Social Media Icons Photo via Shutterstock

 

BI Intelligence

According to BI Intelligence, despite its popularity, YouTube is not perceived as trustworthy. And this is why:

“The social platform that finished dead last did so because of its abusive comments section and annoying ads. Still, this hasn’t dissuaded people from visiting, as evidenced by the time spent monthly and massive user base. This platform also resonates more with older generations.”

To read more, click on the chart.

Social Media Video Marketing
 

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