Edition 54 - How Amazon Uses Psychology To Drive Sales?

Amazon seems to be the Terminator of eCommerce — they’re ever-evolving, learning, and growing. As a result, so many people shop at Amazon, they’re able to test on a massive scale. It gives them the benefit of learning on a massive scale as well. So it’s no surprise that when it comes to driving sales, few brands do it better than Amazon. The Peak-end Principle states that people remember an experience based on how they felt at its most intense point. And at its end, Instead of the average of every moment. Amazon applies the Peak-end Principle by taking the friction out of the two most significant eCommerce pain points. It’s payments and shipping. In short, It’s interesting to know, how amazon uses psychology to drive sales.

The idea of employee wellbeing has evolved over the years, with the change in workers’ behaviour and employers’ expectations. Today’s modern workforce and remote workplace culture show a significant change in the way organizations deal with employee wellbeing. A Deloitte 2018 Human Trends report shows more than 40 per cent of all workers suffer from high stress, which negatively affects their productivity. It also adds that the costs of lost productivity are 2.3 times higher than medical and pharmacy costs, which is a major concern for employees’ wellbeing. As today’s employers and employees have connected the dots between health and job performance, workforce programs are undergoing a massive transformation to do more than help employees manage health risks—or reduce insurance costs, for that matter. 

Stirring up some action on your social media profiles can be difficult, but it’s vital to increasing brand awareness and sales. In fact, 64% of marketers said that increasing audience engagement was crucial for their social media marketing strategy. If you find it tricky to get your followers to engage with your company on social media, don’t worry. By using simple psychology tips, you can get inside the minds of your social media followers and guide them towards taking your desired action. It’s not sneaky; it’s smart. If you post something that evokes emotion in your followers, they’ll be more likely to feel that emotion, too, and engage with the post. Evoke emotion by sharing inspiring stories

Today, voice search is more popular than ever, and this can greatly affect your website’s SEO. But because search using spoken queries differs from search using written ones, you need to optimize your site to prepare for the very near future of voice search SEO. Voice search allows users to search the internet by using their voice rather than typing their queries in a search bar. This kind of search is used with digital assistants such as Alexa, Google Home, Siri, and Cortana. According to Google, 41 percent of adults and 55 percent of teens use voice search every day. Not only does this indicate that voice search is a significant way that many people search the web, but that it has stronger appeal for younger generations.

All businesses exist and thrive on the sole premise that they provide a solution to a problem. Being able to provide solutions to customers problems means understanding exactly what their needs are. As needs change, so must a business’s solutions or they provide no value. To quote Alex Osterwalder’s book: Value Proposition Design, “Your customers are the judge, jury, and executioner of your value proposition. They are merciless if you don’t find a fit!”. Many businesses have moved to the use of techniques such as user interviews, customer journeys, rapid prototyping, & service blueprints to better understand the needs of their customers & create a corporate strategy to supply solutions. 

This current year has already ushered in a tidal wave of tech innovations, from the rise of social robots and personal assistants to Amazon Prime’s one-day delivery gamble and the proliferation of voice search. The latter alone became a $1.8B retail segment in the US in 2017, and is predicted to rise to around $40B by 2022. Amazon Prime’s ability to prioritize Prime subscribers in their supply chain and get them their packages within 24 hours has rocked the world of online retail. Chatbots have been heavily deployed this year too, and are generally well-received by customers who would otherwise have to call or submit forms. But we’re more than halfway through 2019, so it’s time to ask: What big tech changes are going to affect the way we live and work in 2020? 

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