Amazon’s mission statement is “We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience”.
Amazon’s vision statement is “to be Earth’s most customer centric company, where customers can find and discover anything they may want to buy online”.
Based on the company statements above, it is clear that Amazon’s main objective is customer satisfaction and a wide, attainable collection of just about everything.
Specific: Amazon’s specific goal could be to branch out and become more personable through their social media. Personally, I’ve never seen much of Amazon outside of Amazon itself. Since their customers are so important to them, communication is key. They could raise their voice on social networks like Twitter and Instagram to improve reach. Improving their reach means improving ROI. Ads are one thing but they aren’t always enough to make someone shop.
Measurable: They could use their social media to gauge if they’re improving their voice to the people. Are there more comments? Are there more likes? Are there more sales in areas that have been made the topic of conversation? For instance, the viral Tik Tok leggings. Tik Tok was responsible for a lot of sale increases this past year. Amazon could play into those trends a bit more to keep the sales coming. Talk to the people. Speak their language.
Attainable: Amazon is a powerful company with one of the richest people on Earth in charge. Pretty much any goal should be attainable for them to achieve.
Realistic/Relevant: Any future goal that aligns with Amazon should match their main objective to satisfy customers. Any long-term step towards that will be relevant to improving ROI and recognizing their KPIs.
Time Based: It would take a bit of time for Amazon to improve their voice on social media. Customer support is different from social customer engagement. It takes time to build a relationship. It’s different than just problem solving.
A few KPIs for Amazon could be things like feedback, ratings, refunds, shopping cart abandonment, customer order consistency and more. Total number of sales would be a huge key performance indicator for a company like Amazon. Feedback and ratings would measure how satisfactory the company is. Refunds and shopping cart abandonment can measure product quality, product accuracy and desirable pricing.
Social Media is one of the most useful report cards for any company or person. Engagement is a great tool for measuring how you as a company are being received. The more of yourself you give, the more you’ll receive from your target audience. Professionally, Amazon is doing extremely well. I think their next focus in improving KPI should be improving their social presence with consumers so they have more to go off of.
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