Amazon is an enormous e-commerce presence and has built its business on customer satisfaction, data analytics and IT capacity.
Amazon Business accounts are designed to save businesses money while increasing efficiency, as they have helped Intel and BP cut costs with ease.
Amazon Business offers cost-effective services and is an ideal option for small businesses looking to increase their purchasing. Amazon Business offers discounts on bulk purchases and recurring deliveries, while its analytics help identify savings opportunities.
It can also provide large companies and organizations, especially nonprofits, with useful capabilities. Furthermore, the platform features a tax exemption program to assist purchasers make tax-exempt purchases.
Amazon is an industry leader when it comes to cloud computing, and their AWS subsidiary was profitable last year, earning $45 billion in revenues with $13 billion of operating income.
While Amazon has made billions, their tax avoidance practices have attracted considerable criticism from many quarters. According to estimates from 2021 tax filings alone, Amazon avoided paying an estimated total of $5.20 billion in federal income taxes alone.
Amazon provides many convenience features to make shopping on their platform simpler, such as quantity discounts and special pricing/shipping options for businesses.
Amazon Business also provides companies with several buying solutions designed to streamline their purchasing processes, such as purchase orders, approval workflows, reporting options and flexible account settings.
Setting up approval workflows on Amazon Business can help you to monitor spending and meet procurement requirements more easily, ultimately cutting costs and increasing productivity in your organization.
Amazon business also offers credit lines to enable businesses to quickly purchase products easily. Authorized users and purchasing managers can easily access these credit lines, which offer several advantages such as Pay-in-Full or Revolving Credit Line. Furthermore, payments may be made prior to the purchase date in order to improve cash flow while streamlining end-to-end purchasing and payment processes.
Access to a large customer base
Amazon boasts an enormous customer reach for small and mid-sized companies due to the Internet and their impressive search and recommendation features.
Additionally, the company provides business customers with exclusive price savings and shipping benefits through their Business Prime program.
Business Supply Marketplace also makes it simple and affordable for companies of any size to source supplies from millions of suppliers, with standard invoices, bulk pricing options and other features that help streamline supply management while cutting costs.
Amazon can provide companies with both marketing benefits and access to valuable customer data that would otherwise be lost through more traditional sales channels. Amazon combs its data for buyers’ behavior patterns in order to deliver personalized recommendations based on them – giving your customers an engaging online shopping experience that meets their individual needs. The key here is using that information effectively for a targeted and tailored online experience for each of your customers.
Amazon prides itself on meeting customer needs efficiently. They offer speedy and effortless service, replacement of damaged products free of charge, as well as updates regarding the status of orders placed with them.
Baldacci (2013) credits its success to its customer-first philosophy that prioritizes satisfying customers and building loyalty among its client base.
Responsiveness refers to your organization’s ability to quickly and effectively respond to customer inquiries, requests, complaints or issues. It involves understanding their needs and finding an optimal solution that fulfills them.
Responsiveness is also key for businesses that sell on Amazon, as this factor contributes to your Amazon Health Rating (AHR). Maintaining good business health requires having an efficient supply chain and shipping operation in place.