FAANG stands for Facebook, Apple, Amazon, Netflix, and Google, which have been leading the market since the last decade. These companies have set trademarks for every business and have the best of the best working for them. The top IT and software companies that the world uses and wants to work at, what do they have in common? What can we learn from them?
Take a look at how three of these companies deployed the best business strategies and what you can learn from them. Before you go ahead, if you are looking to contact high-level business experts to help you grow your business, check out specialized websites such as GetEmail.io to help you to find someone’s email.
The reason Facebook grew so massively and made the big bucks is not a mystery. The founders of the company planned with marketing tactics, public relations, and financial planning. The combination of the three helped them master social media. They employed the smartest software engineers to cater to the demands of users with the utmost ease.
Apart from advertising, they spent time on analytics. They became proficient in target marketing and advertising which earned them the stacks. For their users, they realized the importance of public relations and carried an edifying attitude towards their inventions. With new features to unlock now and then the company won the hearts of millions strategically.
Amazon has a huge customer base all over the world. The reason behind this is no magic potion but constant innovation and effort. The website and app have an excellent user interface which has not only eased the process of purchasing goods but also enriched the user experience. Amazon has a great recommendation system and provides amazing customer services in terms of availability, transparency, and shipping.
The reason their conversion rates are so high is that they implement target marketing with personalized experiences for each customer. Lastly, the diversity of products on their page is unbeatable. They sell almost everything from clothes to spices, becoming a one-stop destination for shopping.
Every kid, teenager, and millennial has an account on Netflix, and getting the world together on one streaming platform is no child’s play. Netflix started as every other streaming service in 2007 with a few shows and movies. Over 20 years they established their name as a result of creativity, hard work, and good business planning. The main selling point of Netflix was the low price, high revenue strategy. They streamed classics and TV shows in high quality and made it extremely affordable for the common man. With House of Cards, they started making groundbreaking originals.
A smart play from their side was releasing all episodes at once. The old tradition of binge-watching became extremely popular due to this service and more and more people started subscribing to it due to the convenience it offered. The entire world was on one network and Netflix set its unprecedented mark with its recommendation algorithm.
The main takeaway from these three companies is that along with innovation which played the biggest role in their success, the consistency with which they put effort never died. Even today all three companies strive to make their services better and are using technology to its maximum potential.