Top Two reasons for dot com failures
The internet is booming and there are more and more people utilising the internet to make a living or to provide an additional revenue stream.
However, 95% of businesses who rely on the internet fail. Fact.
Why are so many businesses failing? There are many reasons, but when it boils down to it the top two are lack of commitment (or the I want it now syndrome), and the wrong mind set when it comes to marketing the business.
A Lack Of Commitment (and patience!)
Most business owners don't give their venture enough time to succeed and expect revenue to start streaming in as soon as their web site goes live. Once this fails, they then try to move on to another venture and the get caught in a circle of repetitive mistakes.
This is the case for both online and offline businesses. However, for some reason people do think that as soon as they have a web site the pound signs will start to roll in.
No business can rely on a single marketing campaign. They key to success is to persevere. Very often it can be 12 or even 18 months before a web site is established as a true revenue stream, even with a good SEO company optimising your site for performing keywords. Your business must have a plan to cover this period by utilising other offline revenue opportunities.
The marketing mind set
Many eCommerce business owners promote their business as though its a high street shop. You can't just hang out a sign to attract the attention of passers by. The internet is a whole new ball game, played on a different field, with different rules.
eCommerce is global, and therefore the marketing mind set needs to be global. How often have you looked for a product or service and spent just seconds on a web site that didn't grab your attention?
The first key element of internet marketing is to get listed in the major search engines. Usually this can take up to 12 months, depending on how competitive your keyword is. Place adds or promote your business using relevant online directories that give customers a direct link to your web site.
eCommerce doesn't stand still. It doesn't sleep. Your business is on show 24/7/365. Your marketing mind set has to step up a gear and adapt to this new pace of life.
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