5 reasons why businesses fail online!
Have you ever felt like bashing your head against your computer when your digital advertising delivers little or no results? Well, today I am going to talk to you about 5 reasons why businesses fail online.
Today I am going to speak about why most businesses fail online. I will look at the most common mistakes and why you need to start with the correct strategy. This will save you a lot of time and money.
Hello, my name is Iban Vermeulen and I run 2 digital agencies. Kanoobi digital agency where I offer my business services and VC Marketing where I develop a digital strategy for businesses. I have been doing this successfully for more than 8 years and my clients love what we do for them. I come from a corporate background as a front-end developer. I love my family and I love to travel.
So why are most business owners frustrated with the results that they get from their digital marketing?
Well, I am going to jump right into the first reason.
1. They fail to do marketing research online
If you fail to plan you plan to fail. This is also true when it comes to digital marketing. First, what is digital marketing? It is the strategy that you employ through your website to drive traffic to your website which you can convert into leads and sales. So just like print media, you need to consider advertising reach, engagement, and conversion. A lot of businesses do not know how to do market research online and it is quite easy. If you go to Google your business has a search market. People looking for your product or service. You need to find out how many people in your area are looking for the service or product that you provide. If you go to social media, you are working with an education market. In other words, you must educate your audience through advertising your product or service. When you have the total amount of people that you can reach on these platforms then you can develop a strategy to engage with this audience.
2. They fail to develop the correct strategy
When we look at Google and website structures there is a lot of different digital strategies that you need to take into consideration. This will determine your conversion on your website. That is why businesses pay a lot of money to agencies like VC Marketing to develop the correct digital strategy. This is something that does not come easy or cheap but will save your business a lot of money. When you have the correct strategy for your digital marketing it can deliver measurable results for more than 5-10years.
3. They fail to invest
All marketing effort in any business is an investment but can be measured through conversion. When you have the marketing, research correct and you have the right digital strategy to serve their business needs, you need to invest in that strategy with a long-term focus of growing with the strategy. You also need to not only invest in a strategy but invest in an ad spend budget that is relevant to your strategy. A good digital marketing strategy should give you 2 things. A business advantage over your competitors and annual growth percentage in revenue of 10% or more.
4. They fail to innovate
When you have invested in the right digital strategy you must be open-minded to innovate as the strategy grows. Digital marketing evolves every month and you need sharp people working with you. These people need to on par with current trends and be able to advise when you need to adjust the strategy, spend more or spend less on advertising budgets. Get a good team that are all on the same page about your business vision and goals and who able to grow with you.
5. They fail to measure your data
You need to measure all digital marketing efforts. From web traffic to the reach of your ads. Everything needs to be measured so that you can use the data to determine your ROI(Return On Investment) This will give your accurate statistics that will show how much money you are making through your digital marketing strategy.
Well, I hope you enjoyed the article. I like to shoot straight and give you real information that can help your business. I hope that this will help you to avoid and business failure in the future. For any further information or if you need help to develop your digital strategy, please do not hesitate to contact me.
For a better digital world and better digital marketing results for your business.
Have a nice day