Jeffrey Eisenberg @JeffreyGroks – Co-founder FutureNow Inc., Best-selling author
The co-founder of FutureNow Inc. and author of best-sellers "Waiting for you cat to bark?" and "Call-to-Action", Jeffrey Eisenberg was the keynote speaker for Pubcon Tuesday morning.
The keynote focused on:
4 Pillars of Amazon's Success
The one hour keynote gave insight to Amazon's secretive business strategies. As told by Jeffrey, the 4 pillars of success are:
- Customer Centricity
- Continuous Optimization
- Culture of Innovation
- Corporate Agility
Getting deeper into the pillars, Eisenberg said 80% of companies believe that they are customer centric but only 8% of their customers would agree to it. While Amazon has focused on giving their customers exactly what they want, which is – better client centric service and lower priced items.
Amazon focus on 4 key points for the optimization objectives – Selection, Price, Availability, Experience
2/3 of the web purchase on Amazon is made by returning visitors, which is the result of continuous efforts from Amazon's side. These are not just returning visitors but they visit the website three times more and spend 3x-5x more than the new customers.
Culture of Innovation
Eisenberg told that while analyzing the Amazon's reports, the team looks at data not as "here it is" but as "here is what it could be". Moreover, Amazon has created next generation CEO with title "Customer Experience Officer" who focuses on the customer experience to take Amazon's customer service to a new level.
Addressing corporate agility as the ability of a business to adapt rapidly and cost efficiently in corporate world, Eisenberg said that Amazon has used different software for their agility opportunities. DataPop is one software used for the pay-per-click marketing campaign by the eCommerce portal. It allows the creation of high-performing, customized, and relevant ads that have doubled the PPC conversion rate while lowering the cost per lead. The dynamic keyword ad strategies feature in DataPop have enabled Amazon to provide more relevant & targeted ads that provide better customer experience and more sales.
Another software he talked about is BloomReach, which has helped Amazon's organic ratings on all search engines. The data driven technology of the software allows Amazon to deliver relevant content, optimizing the customer experience on multiple channels.
Buyer Legends is a business process most of the marketers are unaware of. Jeffrey Eisenberg explained the business process in the keynote. He showed a model where companies can look at the opportunities, gaps, and ways of optimizing the campaign. He further added that people want wisdom. Those who are in the Internet marketing industry for more than 2 decades are a veteran. And it is this veteran's specialty that has been answering the marketing question – "Why do people do what they do and how can we get them to do it some more?"
The Buyer Legend model starts with "purchase wave". To understand the gaps, you have to understand the purchase funnel. Getting more into the details, Eisenberg said that the wave starts with shock, denial, anger, and fear that cause the wave to dip down. However, the wave plateaus when the customer gets feeling of acceptance, which in turn raises the graph.
Eisenberg said that companies forget that "customers don't care where you site". It means that customers view the interactions with you as a company and not as a person, so interactions with any part of the team become more important. These will decide the overall feelings of the customer towards the company. Since, every team mate directly reflects the company, they should act that ways.
It is the interaction between the customer and company that creates the "delivery gap". A delivery gap is difference between what company wants to deliver and what it actually delivered. Showing your customers that they are important will make your company more client centric.
Eisenberg segmented Buyer Legends into 10 essential points:
- Their purpose and objective
- The sequence of the steps in their plan
- The rationale for their plan
- Key decisions
- Emotional struggles
- Anti-goals, the pre-mortem
- Constraints and other considerations
- Reasonable alternatives
- How will you measure it?
Ending the keynote, Eisenberg said that to be a master, you have to choose to do something that is simple but not easy. By implementing the Buyer Legends process into business strategy, a company can do it.The Importance of "Buyer Legends": Keynote by Jeffrey Eisenberg, #pubcon Las Vegas 2014, Day 1!,