Amazon.com is not just a river in denial
The AP reports that Jeff Bezos says Amazon will sell 1,000,000 copies of “Harry Potter and the Deathly Hallows” but with such steep discounts that he won’t make any money on it. He also said that his $79 a year Amazon Prime “free shipping” drains the company of $600 million a year. (You can read the article here.)
Why would someone as smart and successful as Jeff do these things? One reason: customer loyalty. Jeff knows that if you give customers a great buying experience and can overcome a major objection (shipping costs) that they’ll buy from you again. And since repeat business from an existing customer is so much more profitable than finding a new customer, the money is in the repeat business.
So while you might not be Amazon.com, you do have customers whether you’re an author, a publisher, or a bookstore. What else can you sell them? How will you court and reward their loyalty to you. If you don’t know, they won’t know either.
Example: In the summer, I frequent an independent bookseller in Wolfeboro, NH. So every July, in addition to packing up the bug spray and the canoe, I also put their “Buy 10, Get 1 Free” card in my wallet and I do all my summer reading buys with them.
What makes you loyal to an author, publisher, or bookseller?
Gary Ward
Topics: FREE! Marketings, Marketing |
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