Fast Company ranked Amazon the World’s Most Innovative Company in 2017. Amazon is the largest American e-commerce company. Founded on July 5 of 1994, Jeff Bezos selected the name Amazon as he looked through the dictionary. He settled on “Amazon” because it was a place that was “exotic and different” just as he envisioned for his Internet enterprise. Bed and breakfasts should each strive to be different and stand out in a unique and impressive way. Think about how your inn can uniquely excel in hospitality, cuisine, and accommodations.
Bezos also noted that the Amazon river was by far the “largest” river in the world and he planned to make his store the largest in the world. Amazon, as a company, has achieved enormous success. Back in 1996, Amazon was only a $16 million company while Barnes and Noble was at the time a gigantic $2 billion company. However, Amazon was the fastest company to reach one billion in sales. In 2016, Amazon’s revenue was $136 billion United States dollars while Barnes and Noble increased to a significantly smaller $4.16 billion.
How did Amazon do it? Amazon set goals to create something superior and completely new. Jeff Bezos, who continues to record ideas as he thinks of them, made a list of 20 possible categories for his business and then decided that his best option was to start with books. Years later Amazon would become one of the world’s best known companies and be referred to as “the everything store.”
While publishers complained when Amazon let its users publish book reviews (showing both the positive and negative comments), Jeff Bezos stated, “We make money when we help customers make purchase decisions.” To him, it was so people could make informed choices. The user-generated content did give Amazon viewers an extra reason to visit their website: actual buyers of books were giving their honest opinions. Now consumers can leave written evaluations of any of Amazon’s products. Bed and breakfasts would do well to encourage their happy guests to leave reviews as well.
Amazon strives for continuous improvement and efficiency. While you may be satisfied with the size of your business, there are always things innkeepers can do to make more money with each guest who visits. Whether through added packages, special retreats, retail merchandise, or other extras, make it a goal to gain more business from every person who walks into your inn.
Names are so important for both people and places. Names help define people and brands. One of the most successful brands is Amazon. Bed and breakfasts can look to Amazon for its success as a brand and its successful brand name. Since June 19, 2000, Amazon’s logotype has featured a curved arrow leading from A to Z, representing that the company carries every product from A to Z, with the arrow shaped like a smile. A good bed and breakfast logo can appear on merchandise you sell like coffee mugs, cookbooks, and aprons.
Amazon carefully selects who they hire to join the company. According to Amazon, they hire only the best and the brightest. Some interview questions have been known to catch people off guard like, “Do you know why manhole covers are round?” This is to judge the reasoning skills of interviewees as much as it is assess their intelligence. This sets a high bar for the talent they hire. While they have had some personnel issues as far as people electing to leave the company, many employees have done very well for themselves by staying. Bed and breakfasts should also be selective when hiring more staff members.
One of Amazon’s core values is innovation. They remain on the cutting edge of technology with their products and services. As a company they love inventing things. They are not held back by conventional thinking. They will quickly abandon old notions and embrace new ones when better options present themselves. Likewise, innkeepers should stay on the cutting edge with their online marketing, reservation software, and so forth.
Amazon is known for their excellent customer service. They offer a generous 30-day return policy. They are resolved to offer the lowest prices anywhere. Amazon has expanded not only the types of merchandise it sells, but also the programs it offers. With a focus on long-term customer loyalty, those who are Amazon Prime members get several perks including free shipping. Bed and breakfasts can reward returning guests and guests who make referrals.
Amazon is obsessed with customer satisfaction. This online giant offers a personalized version of their website and gives recommendations to each shopper based on their previous searches and purchases. Amazon’s wide selection, low prices, and excellent customer service is remaking industries. Through strategic marketing, including blogging, social media, and phone conversations, bed and breakfast guests can be persuaded to spend more money during their visits on custom packages and other options.
Amazon arguably has the most authoritative online product catalog. To make it easier for customers to learn more about the products on Amazon, they offer the following lists and tools:
- Amazon Bestseller Lists
- Amazon Sales Rank
- Amazon Wishlists
- Amazon Look Inside The Book
- Amazon Search Inside The Book
Amazon’s overarching goal is to be the first place people look to buy anything. Amazon is also referred to as the “unstore.” According to Bezos, Amazon is not bound by the traditional rules of retail. This is a list of some of Amazon’s products and services:
- Amazon Kindle Fire (their own e-book reader)
- Amazon Create Space (their e-book publishing company)
- Amazon Audible (audio books)
- Amazon Web Services (cloud computing)
- Amazon Prime Video (similar to Netflix)
- Amazon Marketplace (option to buy from third party sellers)
- Amazon Fresh (groceries)
Perhaps having a company name beginning with “A” was preferential due to the probability it would occur at the top of any list that was alphabetized. Does this mean that your bed and breakfast name must start with the letter A? No, absolutely not. You can think of a clever and profitable bed and breakfast business name by taking into account: your location, your inn, your decorating theme(s), and so on.
Maybe I should rename my company name from Bed and Breakfast Blogging to something else? Any suggestions?? Feel free to comment below with positively creative suggestions!