Why 85% of businesses never get benefits from digital marketing?
Updated: Apr 20, 2021
Internet( Digital ) marketing is the fastest-growing and most effective business promotion method. It is an excellent way for any business ( from Small business to large business ) to start with little investment.
Yet internet marketing failures still vastly outnumber those who have succeeded by using internet marketing. For every story, you hear of some businesses are getting higher footfall or getting business inquiries every month by using internet marketing there are hundreds of untold stories of those who failed to make a profit or only made a few businesses and then quit. Why do so many fail when Digital Marketing is the main business marketing method after 2017, & now during the Covid pandemic, it's a must for every business?
The top 10 Reasons are
1. Failure to plan – No matter what type of business you are running you need a business plan with well-defined goals. What are your short-term and long-term goals? What steps do you need to take to meet those goals? Write out your plan and review it frequently. You are running a small business. Treat it like one.
2. Failure to work the plan – So you already have a business plan? Are the following it? A plan means nothing if you don’t follow it. Work on the plan every single day. Revise it if necessary but don’t detract from it.
3. Making goals too big early on – Many internet marketing failures try to do too much too fast. You are not going to create the ultimate website or digital presence overnight. Those 10,000+ genuine fan followers, reputation, beautiful web site took months or years to build, so will yours.
4. Lack of knowledge – Would you be a successful plumber without knowing anything about plumbing? No. Then how would you expect that your few months of Digital Marketing work will bring so much business & reputation for you? you need to learn a little about internet marketing, you have to know how long it will take time to build your brand to attract your targetted audience for your business. Find a successful mentor willing to help you and you will be way ahead of the crowd.
5. Expect overnight Success: Fascinated by mind-blowing statistics associated with digital media platforms and by the ever-growing number of online businesses, every organization who embark upon the journey of digital marketing believes that it's a magical wand, which will solve their sales & marketing objectives overnight.
While digital media is a powerful weapon to accelerate business growth, sustainable success in digital marketing normally takes a few months if not more and this journey to success would have involved a few failures. Digital Marketing avenues such as Search Engine Optimization (SEO), Social Media Marketing ( SMM ) require a couple of months before a business can see any substantial results. Expecting quick results normally leads to giving up on the not-so-visible but real progress campaigns, which would have produced desired objectives if given the time it requires.
6. "If I build it, they will come" – You can have the most comprehensive and informative website & Social Media Channels for your business in your city but if you don’t promote your site & Social Media channels from time to time then you need to wait a long time to get proper traffic to your business.
7. Lack of patience – You will not be making the business after a few months of start. Internet marketing is not a get rich quick scheme. It takes time and testing to build your web traffic and increase your conversion rate. In the beginning, you might actually invest more money and this is when too many people give up without giving their business time to grow.
8. Wrong niche – So you wrote that ebook on underwater basket weaving and you’re wondering why nobody is buying it? Find a niche but make sure it’s profitable first. Too many times people create the product first then try to figure out how to sell it. Find out what the people want then give or sell it to them. The reverse side also applicable, in that case, show more patience.
9. No Uniqueness – There are hundreds of the same type of business as yours, what makes yours so unique? Why should I buy your product when someone's products are just as good and he’s been selling the product a lot longer than you? Stand out from the crowd and get noticed. Know your competition and do what they do better or do something totally different.
10. Lack of commitment – To be successful, you must be committed to success. Behind every success story, there are many hours of work and dedication. You’ll need drive and determination if you want to be the next internet success story everyone is talking about. For this, you need a professional team.
Author: Amitabha Guha ( Founder - ICONIX )