Amazon Prime powered by Amazon was introduced to the world in 2005 to introduce subscribers to the versatility of entertainment. A staggering 200 million subscribers are actively accessing the platform. The subscription to the Amazon Prime platform is either issued every month or on an annual basis. Opting for an annual plan offers the members free two-day shipping on any Amazon purchases. Amazon to mark its 20th birthday specially launched a new program termed Amazon Prime Day, allowing exclusive access to the members to shop for any product from the platform at steep discounted rates. These strategies are genuinely paving the way for the platform to build market domination. To know in detail the strategies that are raising their market value, let’s dive in:
Amazon’s idea to provide one-day delivery or a day after has been their game-changing strategy which none of their competitors could match up to till today. The platform’s unmatched taste in content diversity and catering to global audiences’ has brought them to the heart of the market attention. For Prime subscribers, the platform provides early access to sales and flash deals compared to the non-members.
Second, on the list is Amazon Prime’s supremacy in comprehending vast customer data for personalization of marketing messages and recommendations. The membership of Amazon Prime fluctuates depending on determining factors like location, demographic, and purchase history of the users henceforth facilitating optimum utilization of the devised plan. Amazon Prime scrutinizes vast sources of customer data to provide personalized music experiences.
Amazon Prime works through different channels of communication like television, social media, and email marketing to make the platform feasible for everyone. The eye-catching feature is undoubtedly its free trial period of accessibility and flat discounts on membership enrolment. Audiences always avail of free trials before actually aiming to rely on the plans. Because of this creative approach, Amazon Prime has successfully pulled off a solid six in this regard.
The platform urges to merge innovation and creativity to satisfy user tastes in entertainment. Recently, the platform has decided to integrate voice assistants like Alexa into the Prime world to provide uninterrupted shopping experiences to the members. The feature promoting “trying the products before purchase” has attracted subscriber attention toward the platform thereby placing Amazon Prime as the most preferred one.
Amazon Prime offers its prime members the ability to redeem the coins earned through successful purchases. This facility seems to be attracting the customer’s attention towards more shopping as they receive discounts through the redemption process. To Prime subscribers, early access to the sales and flash deals earns their loyalty towards the platform as they feel valued and appreciated.
We have enlisted the strategies of Amazon Prime that are sure to elevate its presence among its competitors. The platform is always on the go to integrate innovation into the existing features thereby inciting curiosity of the subscribers and non-subscribers.