Here are some of possible reasons why online business fail:
1. Lack of Target Customers Analysis
Not analysing the needs & demands of target customers is yet another reason why some startups fail to succeed and that’s why it makes sense to evaluate our potential customer base before launching our new business.
2. Unfriendly Website
A basic ingredient to run an online business is to have a well-designed website. The need to put everything regarding our business in the web pages. People will come across our business through our website. When they will visit the website, it should make a good first impression on them.
3. Not Having A Memorable Logo
Remember that a logo is not just a symbolic representation of a company in a market. It is, in fact, a tool to engage our potential customers with our business. A uniquely designed logo draws people’s attention quickly, which becomes the starting point for engaging them with a business.
4.Lack of Social Media Presence
Another reason for the failure of many online business startups is that they simply ignore the power of social channels in promoting a business. In the modern world, people use social channels to get updated information. They communicate with the world using a variety of these channels including Facebook, Twitter, YouTube, Instagram, Google, and many others.
5. Lack Of Commitment
Most business owners start well but lose their focus and determination to succeed for different reasons. Many of them are left with no enthusiasm if they face some failures.
6. Lack of Powerful Strategy
There is an internet marketing plan that successful businesses always have in their store. They evaluate their marketing plans periodically and make timely improvements. So, if our online business website is not ranking high up in the search results when customers type some search words on Google, we will not get the customers.
7. Not Prepared For Competition
It makes sense to do a thorough competitor analysis to understand what your competitors are doing and why. You must be well aware of the strengths and weaknesses of your competition in order to make well-informed decisions and strategically plan your marketing activities.