What do you do after you spend almost nine hundred million ($900,000,000.00) for a shoe company? If you are Jeff Bezos, the CEO of Amazon, you make a video and post it on YouTube.
This is an explanation of the corporate cultures of Amazon and Zappos. It is also masterful marketing. Jeff Bezos takes the viewer back to the early days of Amazon, before it had the millions to spend on an acquisition. Here is the video: Jeff Bezos Discusses Amazon and Zappos.
“…On the Zappos blog on Wednesday, Tony Hsieh, Zappos’ chief executive, said that the decision to accept Amazon’s offer was a difficult one. This was in part because Amazon focuses on low prices and convenience, while Zappos has carved out a favorable reputation among consumers for personalized service, free overnight shipping and a policy allowing buyers to return any pair of shoes free.”
The press coverage is free advertising. Jeff Bezos uses it brilliantly. He knows that this is a limited opportunity to reach the Amazon customers.
Well done, Jeff! I need new running shoes in a couple of months. I’ll be in touch…