Some people think that being successful in online marketing is simply getting a website developed by the best ecommerce development company in the ecommerce development world and a domain name registered. This is not true, and is a part of the reason why about 90% of the business fail.
The online marketer must be disciplined. Running a business, including an online business, requires self-discipline and a commitment to put in the work that is required to succeed. Running an online business requires a significant investment of time to generate content that will drive traffic to one’s website. A lot of work has to be put in, with deliberateness to ensure the right content is tactfully put out. Social media must be used with intent. The right visibility is key.
Some entrepreneurs do not understand overhead costs. There are acceptable business practices that every entrepreneur must understand, to be able to balance their books at the end of every month. Costs should be kept low, and as much as possible, ensure that cash flow is smooth.
The attitude of a start-up online business is important. If they work when they want to, or expect to get rich quickly without being mindful of pumping funds back into the business, it is sure to fail. Some businesses do not even have a plan to run with. You must have a business plan to run with, based on detailed research. The plan must include a budget and a timeline to work with. Schedules should be met, and goals should be carefully monitored. There must be a marketing plan for the ideal clients of the company. Learn sales. Be able to promote your services in a consistently engaging and easy-to-understand way. They must understand the software required to run their business, and study the path of those who have gone ahead of them. Comparing yourself to others is a no. When you compare, you become overwhelmed, and end up not achieving anything significant.
Some online businesses fail because the owners try to do everything for themselves. They try to build a website by themselves, try to do the books by themselves, try to fix all the tech problems by themselves. So, rather than focus on the money-making, they are instead focused on trivia and become overwhelmed. Where appropriate, tasks that can be outsourced should be outsourced, so that there can be focus on the meat of the business. The company must also be made up of a good team – a team that is strategic, has foresight and makes quick adjustments to maintain a solid position in ever-changing market conditions. An aggressive marketing strategy is required. There must be deliberateness about Search Engine Optimizations, to make sure the website is highly ranked and pops out as a result when a potential customer is searching.
Market Surveys. Too many businesses do not carry out proper assessment before they launch a new product or service. In the same vain, they do not carry out any surveys to get feedback from customers on the usefulness, or user experience of the products and services that they have launched. See the problem that the customer wants solved, and create solutions around this. Stop creating a product and then finding a niche for it. Cost of production should be carefully weighed to determine a selling price for your goods/services. Products should not be overtly pricier than alternatives in the market, but they must not be undervalued either. Offer intangible non-costly products such as e-books to attract customers, especially at the start of the company. Test your products before launch. Release of products must be timely, and the company should be wary about having too many different offerings.
The user experience of a website must be attractive and engaging. As a significant number of customers are on the go, and are visiting websites via their mobile devices, the website must be optimized for mobile. The website must be clear, easy to navigate and have sufficient information to give a potential customer an impression about the company. The use of videos will be appropriate. Customer Service is key. Humans are social creatures, and so they must be able to interact on your website, whether a human is on the other end, or by use of chat bots to answer questions or steer a customer towards completing a purchase. Forcing people to create accounts before they can complete purchases will drive away customers. Customers should be able to complete purchases as a guest on the website, leaving account creation strictly at their discretion. There should be appropriate signs to notify the customer that the payment site is secure. For example, the payment page must be https. The payment alternatives must be easy to navigate, and must not require an arm and a leg before a customer can complete payment. After successfully engaging a customer and convincing the customer to complete a payment, bottlenecks at the payment page must not be allowed.
Online businesses will not run themselves automatically, and face some of the same challenges as other businesses. It is essential that there be a committed discipline towards aligning with the business plan that had been drawn up, attracting traffic towards the website by posting high-quality content, and ensuring a positive user experience and customer service from start to delivery of service.