5 Reasons Why Businesses Fail Online

Waseem Bashir

Waseem Bashir

October 9, 2018

5 Reasons Why Businesses Fail Online

 

Over a decade we have seen businesses rise and fail. Having a strong presence is a challenge in the current noisy landscape. However, we can pinpoint some of the key areas on which businesses can focus on when building an online brand. Here are some of the top picks:

 

Lack of Vision

Why did you create your website? What’s your core objective? Who is your target audience?
As a business owner, you should accurately pinpoint whom you want to target online. The website should have a clearly defined goal. Are you planning to sell online or do you plan to create awareness of your brand? These are two different goals and require completely different tactics.

Getting in front of potential customers is hard. Most of the times companies dive into creating a website without defining their uniqueness in the market. As a business, you need to differentiate yourself from the crowd. Here are some ideas which can help:

  • Create an avatar of your ideal customer.
  • Define tangible goals. e.g., You want to generate five leads via your website every month
  • Create a strong brand; we will cover this separately.
  • Define the roles and responsibilities of things like what happens when somebody fills out a form on your website.

Detailed procedures which define how members of the team should follow up with your prospect. Even if it’s just you starting out, write down the steps you take to respond to a query. Later you can teach somebody else to do what you do.

 

No Technical Knowledge

Creating, managing and promoting websites has changed. Our first website in 2001 was hard to build, complicated to manage and advertising it was much different. Nowadays, websites are relatively easy to build and maintain. As a business owner, you or somebody in your team should have the basic knowledge of updating content on your website. We use WordPress as our Content Management System. WordPress is open source and user-friendly. If you know how to use Microsoft Word I can assure you, you can use WordPress. Updating your website regularly is important as you can share up to date information with your customers and also by keeping your website fresh you can signal Google to crawl and index it frequently. One of the factors which Google takes into account to rank your website is fresh content. This falls under Search Engine Optimisation (SEO), and we recommend our customers to regularly update their websites to increase their chances of better ranking on Google.

 

Lack of Understanding of Lead Generation and Conversions

Your website should act as a channel to generate leads. A lead is a potential prospect who has shared either their Name, Email, and Phone number in exchange for a resource or service. Your website should have resources which visitors can opt-in. e.g., If you are a fashion house you can create a PDF resource with top 10 styles for this winter or 20% on your first purchase. When a visitor downloads this free resource in exchange for their contact details, you capture their contact details and can build a follow-up or nurturing process which will automatically nurture your prospects. You can also setup Conversion tracking in Google Analytics. Analysing conversions will give you insights on how visitors are interacting with your site, and you can find leaks or areas on your website where visitors are dropping out/leaving your website. By having a conversion focus, your website will attract high-quality traffic and generate more leads. The science of increasing conversions by an incremental approach is known as Conversion Rate Optimisation (CRO). In our agency, we come up with various set of hypothesis, tests and analyse results which aid in increasing conversions.

 

Brand Inconsistency

A brand is more than just a logo. A consistent brand comes across when customers interact with your product or service across various touch points. In our example, the first touch point when a visitor visits the website, orders a product, chooses delivery options, get a package delivered etc all count towards customer experience. A consistent brand follows clear guidelines in communication, core values, brand assets, and customer service. Any inconsistencies would leave prospects and customers in doubt. Consult an expert who can work with you to draft a clear brand guideline document which you can share with your team and other suppliers.

 

No Content Marketing Plan in Place

As a business, you need to stand out and reach out to your prospects. One of the most successful ways to increase awareness is by producing high-quality, engaging content. However, even before creating content you should first define a content strategy. The content strategy document should include things:

  • What do you want to share or what’s the focus of your content. Are you trying to solve a problem through your products or service?
  • How do you want to share the info? Pick a medium through which you can build your follower base. Start with one and then move on to add more. e.g., you can start with a blog on your website which will drive traffic to your site and once you understand the effort required you can then move on to create podcasts, videos, courses, etc. Whatever niche you focus on, there is always a way to create useful content. Although you might think there is so much out there already, one thing which is different is your voice, your experience. When you share your story and experience, people can relate it and connect with your brand. By producing high-quality content, you can organically increase your social followers and build a tribe.

I would like to conclude by adding, just like your day to day activities in your business, you need to work strategically to strengthen your brand and business online.

 

 

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