Should we be scared that Amazon’s Jeff Bezos has bought the Washington Post?
I love how Amazon has improved my life pursuits. In recent weeks, I bought print cartridges, CDs and a Bushnell golf rangefinder from the site. I read my Chicago Sun-Times and Chicago Tribune on my tablet and smartphone’s Kindle app.
There’s no argument that Amazon has simplified and become a valuable asset in so many aspects of our lives.
Based on what Bezos’s innovation success with Amazon, I am excited and optimistic about this opportunity for the news business.
I am particularly impressed with his thoughts
- While newspaper advertising revenues are declining, more people are consuming news. Convenient access is paying off.
- Circulation for US newspapers rose 5% in 2012, the first increase in a decade and this is attributable to readers’ response to all access paid subscriptions including all digital versions. Find your audience and satisfy them is powerful.
- Amazon is the king of customer satisfaction and you can expect this to continue as Bezos reshapes the paper. Customers want to be valued.
- Reliance on readers creates a valuable feedback mechanism, and as a data monster, Amazon eventually could produce a more personalized newspaper. How exciting would that be for readers and advertisers?
Convenience, satisfaction, valued relationships and personalization sound like the soul of any successful enterprise, and the basis for a new valuable asset for marketers.
Let’s hope that this is the beginning of the next evolution of the newspaper business.
Are you scared or excited about this development?
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