Why 97% of Businesses Fail to Succeed Online


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Setting up an E-commerce enabled business appears to be a great idea from the outside but is it really that easy to attract customers & complete the sale! Let’s find out. Friends the fact remains that, just like any other conventional business, if you do not plan, forecast, budget and do not invest smartly in an online business from the beginning, you will actually struggle to make profits in your first three year of operations and ultimately fail.

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Why 97% of Businesses Fail to Succeed Online

  1. 1. Do you know why 97% of BusinessesFail to Succeed Online?Common mistakes made by Businesses wanting toadopt the E-Commerce Model…
  2. 2. Setting up an E-commerce enabled business appears to bea great idea from the outside but is it really that easy toattract customers & complete the sale!Let’s find out…Your Marketing Partner Online
  3. 3. An eye opening factHate to present a sad statistic (but its true)97% of the businesses actually fail to succeed online.On the bright sideThe remaining 3% business actually make double ortriple the profits by reaching customers in parts of theworld that you never knew existed.Your Marketing Partner Online
  4. 4. The million dollar question here isWhere lies the key to succeed online?In this presentation we shall share a few common mistakes that businessesusually make in their quest to succeed online & will also give you a few handytips & recommendations to overcome these mistakes.Your Marketing Partner Online
  5. 5. Most common mistakes1. Lack of Planning & Forecasting2. Lack of a Unique Selling Proposition3. Trying to Sell Everything to Everyone4. Poor User Interface Design5. Lack of quality Content.6. Poor quality E-Commerce Backbone/SoftwareYour Marketing Partner Online
  6. 6. Lack of Planning & ForecastingProper planning is a precondition to establish your new e commercewebsite that will make you money. As a Business you must take thesefactors into consideration & find out• If there is a demand for your products online?• Are the products you intend to sell actually selling online & if yes,in what numbers?• What are your competitors prices like?• Are they charging less than you can buy the product for at tradeprice?• Will your e-commerce website be profitable?Your Marketing Partner Online
  7. 7. Lack of a Unique Selling Proposition99 % percent of the ecommerce websites lack a unique sellingproposition & thus ultimately fail. These businesses have anatural tendency to imitate the competition. Take this as anadvice; don’t launch a store because everyone else is launching it.The most important question to be answered here isWhat makes your store unique?Our Recommendation for you would be to setup a differentiatorfirst & then prepare for a launch.Your Marketing Partner Online
  8. 8. Trying to Sell Everything to EveryoneOnce you are through with your research, decide on the number ofproducts you will sell on your website to begin with. Don’t try to selltoo many products initially.• What you must take into account is the time required to Source theproducts, Stock the products, Sell the products, Ship the productsand Support the products.• Be honest with yourself before you begin and determine if you canactually afford to spend the time required on the above processes.• Offer value for money to customers in your business transactions &offer them a good customer support. Ensure that you are inbusiness to make money, not to make friends with everyone, and toprovide exceptional ‘value-for- money’.Your Marketing Partner Online
  9. 9. Poor User Interface DesignDesign is the first visual element that customers notice whenthey visit your site. As these processes are subconscious you onlyhave approx 5—7 seconds to capture your visitor’s attention thus• Your Site design has to be spot on or your visitor will leave.• Hire professionals for the Job don’t try to save money ondesign.• Make sure your website loads quickly. Stay away from fancyanimations as they take time to load & are difficult to beindexed by Google.• Make sure that your website design is responsive & rendersproperly on tablets & mobile devices.Your Marketing Partner Online
  10. 10. Lack of quality Content• Poor content quality including headlines, product descriptionson a website can massively reduce sales.• Your site content needs to, educate and inspire your prospectsto want to take action and buy your products, read your blogor sign up to your email newsletter.• Make good Use of emotional triggers by focusing on benefits,experiences and results that your products will give yourprospects and future customers.• User Generated Content & reviews should be encouraged onthe site as it helps in generating trust of visitors.Your Marketing Partner Online
  11. 11. Poor E-Commerce Backbone/SoftwareMaking use of a poor quality e-commerce backbone will affectusability for you and for your customer. Some of the majorproblems include;– Poorly laid out products– Lack of discounting feature– Non PCI compliant code– Lack of search engine optimization featuresAlways remember a good e-commerce software loads fast, has agreat structure for the user so they can find products easily, andis built so Google can find and index your products with ease.It should be Flexible system that has the features to extendbeyond it capability and should adapt with your business in time.Your Marketing Partner Online
  12. 12. Thank YouHowever, an in depth analysis of the pros and cons of everybusiness must be completed before we draw any inference butthe key to success lies inThinking creatively - Planning Rationally & Executing it intelligently.Your Marketing Partner Online