Reasons Why Your Online Store May Fail To Take Off
You have decided to start your online business. You have set up your website, and have what you consider the right product. But no matter what you do, your online store does not seem to be generating any revenue.
You are now at your wit’s end because you have invested quite a bit of money in your enterprise. Before you lose hope, read the article below so that you can understand what you may be doing wrong. We hope that you’ll be able to get a solution to the current stalemate you’re facing.
You may need to take an honest look at what you’re doing and provide an answer to the following questions.
1. Do You Understand Your Audience Profile?
Marketing 101 insists that you cannot succeed if you do not understand who you’re selling to. You need to profile your target audience in great detail. Include factors like gender, religion, income levels, employment, and marital status.
Also, look into their purchase habits, and where they shop; online or offline. The fact is, what we have highlighted barely scratches the surface of what you need to do to understand your customer. But remember, not paying due attention to this aspect will make a business fail.
2. Do You Have the Right Product?
Having the right product requires that you have a proper understanding of the market. It means you take your time to research what the customers are lacking. Are there many people selling the same thing you are?
What makes your product unique, and why should a customer choose yours over the competitors. If you enter the market with a product that many other people are already selling, you will need to stand above the competition.
3. Are You Pricing Your Product Correctly?
You can gain an advantage by pricing your products correctly. Again, it will require that you do quite a bit of market research to know where you stand. Even if you are not able to sell your goods at a lower price because of your profit margins, think about discounts and loyalty programs.
Do note, however, if you find that you cannot compete on price, try to see how you can get your products to move with the current price point. It makes no sense to make a loss because you are trying to outdo your competitors.
4. Do You Have A Marketing Strategy?
Setting up an online business is very much like setting up a brick-and-mortar store. You need to have a marketing plan that highlights everything concerning the running of the company. The strategy will focus on your goals, how you hope to achieve them, what marketing methods you will use, among others.
There is nothing like a perfect marketing strategy. You will find that you are making changes to it as you go along. Continue to learn and to educate yourself about the digital marketplace. Incorporate your lessons into your marketing strategy so that you maximize what you have.
5. Are You Optimizing For Search Engines
An online business will only succeed if the target customers find it. Many people will start the process of purchasing by doing an online search. Search engine optimization will help with the ranking on platforms like Google.
Any time someone types in a keyword that is relevant to your business, your name will come up. Of course, it requires that you learn how to use short and long tail keywords to improve your chances.
6. Is Your Website Attractive?
Human beings are visual creatures, and that the reason why companies invest in getting models to advertise their products. The same should apply to your website. Invest in a good design which will capture and retain the attention of the user.
Make it easy-to-use because the attention span of the online user is brief. Platforms like Shopify have great resources for developing online stores. A website with a poor design will give the impression that your business is not credible.
Ensure the page loads quickly because you can be sure that no one has the time for a slow-loading page.
7. Do you have a Call-to-Action?
A Call-to-Action is essential because it will prompt the visitor to take a specific action. The CTA could be to call a number, email, or even visit the business.
8. Is Your Content Relevant, and Is It Good Quality
Customers want information, and if they have more questions than answers at the end of the website visit, they will not come back. Develop an FAQ page that will help preempt any questions. Have user guides, video tutorials among others to ease the process.
By providing a customer with the correct information, you may sway their purchasing decision to your favor. Invest in good quality photos because they will sell your product. It pays to hire a professional to take good pictures for you in the initial stages.
You can also consider purchasing high-resolution stock photos online.
9. Are your shipping costs too high?
Think about your shipping costs, and look for the best way to get the goods to the customers. It should happen without a significant increase in the price of the product. It would not make sense for the shipping fee to be higher than the cost of the item.
If you can, deliver the goods to the customer for free. Some of the most successful online platforms use free shipping as one of their most potent marketing tools. As a small business, it may not be possible for you to do the same. Go out of your way by looking for the cheapest shipping options.
The online platform is a wonderful place to do your business. The market is enormous, and you have so many resources on the digital space that can help you elevate your business. However, if you don’t take the time to understand what you are going into, you are not likely to succeed.
Answer the questions we have asked above, and if you feel that some areas are lacking, work on them. Check out How to sell online