“If you do build a great experience, customers tell each other about that. Word-of-mouth is very powerful.” Jeff Bezos
Jeff Bezos is first centibilioner of our planet. He started amazon as a online bookseller and today as company's name amazon has truly becomes as big as amazon river from which it took inspiration.
Jeff Bezos born on the 12th july 1964 when Jeff was kid he love to play with computer.He completed his graduation in computer science and electrical engineering from princeton university. After graduation he worked in wall street where he became the youngest seniour vice president.
The early 1990's the popullarity of internet swept across the world. Jeff immediately realizes that in future internet going to be biggest avenue for business then he left his job as vice president of wall street on 1994 and started working on his idea. He listed out 20 products that can be possible to sell on internet.
Jeff eventually decided that his venture for would be sell books over the web due to the large worldwide market for literature.
On web amazon.com debuted in 1995 within a month of launching a web site Jeff and amazon packed orders from 50 states and 45 countries.Then within month of selling books on web site amazon.com ranked 1st on web.The responce recieved from customers are really appreciating and motivating for Jeff Bezos.
After successfully selling books he started selling toys, music CD, electronics devices, computer softwear on customers demand.
Jeff Bezos is then named as Times Magazine's Person of the year in 1999.
Jeff always believes innovations, from begining Jeff comes with new innovation and that innovation turn as booster for amazon everytime.
In 2005, Jeff come up with amazon prime a subscription service that gives users access to free two-day delivery (one-day in some areas), streaming music and video, and other benefits for a monthly or yearly fee.
Through this services amazon also started a drones deliveries .
In april 2018 amazon reported prime had more than 100 million subscribers.
In 2007 Jeff introduce a his new and cool invention a kindle e-book reader where he shifted amazon reader hardcover to e-book comfortably.This kindle e-books reader is loved by all amazon customer and this kindle e-book reader turns as a popularity booster for amazon.com after it's launching.
In 2011 amazon announced that they are selling e-books more than hardcover books.
Jeff Bezos everytime says that customer is a King and I am the servant, he not only says that he always serve his customers like king. This is the only reason that amazon is succeed to build a strong relation with his customers.Amazon nearly has about 310 millions of active customers accounts all over the world.
This is the story of man who wanted to give PS3 as a surprise birthday gift to his son. But he did not recived product even after 4 days. He called customer representative and explained all story.The representative assured him that he will get his order of PS3 a very next day. When man asked how much should he pay, the representative replied Nothing, and this man went on to write article in the New York Times which was read by millions of potential customers.
This is how amazon succeed to build relation with customer, amazon know very well that word mouth and positive review that customer gives to other that is effective than company's promotion.The good reviews given by customer help other people to make right decision.
Jeff always focus on following that why today he is first centibillionaire :
Jeff find that customer dislike most is 1- DELAY 2- DEFECTED PRODUCTS 3- OUT OF STOCK
Jeff always focus on long term goal he say OUR VISION IS TO USE THIS PLATFORM TO BUILD EARTH'S MOST CUSTOMERS CENTRIC COMPANY. A PLACE WHERE CUSTOMER CAN COME TO FIND AND DISCOVER ANYTHING AND EVERYTHING THEY MIGHT WANT TO BUY ONLINE.
Jeff take quick decision with 70% information, when he got idea of amazon prime service then in just 111 days of work he starded amazon prime service with 70% of information. In starting he face various problem but he solved every problem as he get problem.
Jeff says FIRST PRODUCT IS NEVER THE FINAL PRODUCT.
when he start amazon prime a innovative service where he gives free one day shipping, free same day delivery, exclusive deals and many more. In result he get 1- loyal customer 2- customer retention 3- recurring revenue.
The customer never demanded this kind kind of any services but for the customers satisfaction he come up with amazon prime. This move made Jeff a FAST MOVER.
Jeff says, if the customer is satisfied with product and service given by our company then we don't need a promotion of our company we just have to focus on building good product and services so the customer will promote our company with their love.
On march 2018 Jeff bezos beat Bill Gates and become the first centibillionaire of the Earth according to Forbes world Billionaire list. Notably, the second place on the list, which was bagged by Bill Gates is at least $22 billion away with a net worth of $90 billion while legendary investor Warren Buffett holds the third position at $84 billion.
Jeff Bezos had a bumper 2017, with his net worth jumping by nearly $40 billion in just 12 months.
