Here Are The 7 Reasons Your Online Business Is Not Growing
The glorious days in online business marketing seem to have come and gone as we usher into a new realm of digital marketing, a new realm on how online business growth and profitability are done
You see, over the past years, a lot of people enjoyed the easy reign and glorious days of doing business online, yes is slightly going as what used to work before doesn’t work lately, moreover, the online space is more saturated now than before
So in this post, I will be revealing to you 7 reasons your online business is not growing, why that business you have been promoting online has not been much profitable, and more importantly. Giving you solutions to resolve the issues holding your business down
So I will not just be giving you the main reasons, but in each of the reasons for poor results in your internet marketing career, I will also come up with solutions to growing your online business
Before we start, take note that why a lot of business fail and dies off. Is a result of a lack of profits. Nothing kills a business faster than when the business become unprofitable
To stay in business, you need to keep making profits, this is the bloodline to all business survival. Profits are what keep all businesses including Google and Microsoft, Tesla, NL SOFT and that of your business alive
So is important you know that as we read on these 7 Reasons Your Online Business Is Not Growing, starting from the number one (Competition) issues. Please take note of the fixes and resolve whatever issues holding your business growth
1: High Rate Competition
During the early days of Internet online business, is normal for you to hear when the competition is high, then know that the business niche is profitable. Yes those days have come and gone as most Niches have been taken by top competitors
The high rate of competition is part of the reason why a lot of people are not growing in business lately, now Imagine Mr. DAVIDO who wants to go into the core E_commence business, as of now, Amazon is king here
Even when you want to streamline your market (Your e-commerce portal) to your local audience, there are still competitors who have taken Saige off the stage. eg Am from Nigeria and here Jumia, Konga, etc have taken the stage
If you want to go into core eCommerce in any part of the country, you have to be fully ready to make your platform much more advance and unique to what is already available in the e-commerce market
And more important. You need to work very hard in areas of your marketing distributorship, moderating and more important effective SEO optimization of your e-commerce platform
That being said, I remember years ago, when everything was so easy, how we help Jumia become what they are today, we did the same with Merrybet and a few other top businesses around West Africa and I want to use this medium to tell anyone who dreams of going into such a niche that everything is possible but you need to be much more ready to face the challenges ahead
When I first got started online over a decade ago, there were a lot fewer competitions, things were so easy then, and SEO was so friendly that I can rank any keywords within 48 hours or less
Then I could have just a front-end product, a website, or a sell page, and I’d spend a dollar or a few thousand Naira on ads and make a lot of profits back in return.
But today high rate of competition has made it much more impossible as more people take their businesses online and competition started to grow, ad costs went up, Google and Bings start to make changes, the consumer’s buying resistance also start going up, the online business growth and sell is now harder and more technical
People I know who were making millions of naira to dollars years ago are today no longer in business because they didn’t adapt and change with the times.
Yes, competition is part of the growth but you need to learn smart ways to use it for your benefit. That takes us to the second reason why your online business is not growing (The Ceremonial mindset)
2: Being Ceremonial:
Imagine someone starting an online business, possibly getting a website just to join the league of those that own a website, when his or her idea was fixed on ceremonial (I own a website)
Lol, as a web developer, I see this type of people monthly, they want to take their business online possible because everyone is doing it.
While they have zero plan to boost such business. All they care about is having a ceremonial online business or website with zero promotions to build authority in their niche
These are reasons out of billions of websites running online, only 5% are profitable. Imagine that, the reason is that most people’s mindset in owning a website is wrong. They don’t care about building a profitable website but a ceremonial platform
Is so funny that even when you try to educate them on the need why they should start promoting their online business, building their website authority, and their business social media account engagement. You will be surprised when most of them will turn you down. This has kept a lot of people’s online businesses at zero level with zero profit. The solution is reverse engineering
3: Lack Of Value System
The lack of a value system, a value ladder is another system that has kept a lot of business down, to make it online, you need a value ladder, you need both good products and good services to offer. Note I said products and services. That means they should be more than one product and service
Yes, you need multiple products and services to offer online, and more importantly, they need to have a high value so once someone purchases your product A or orders for your services A, after purchasing or ordering for such services, they should be able to order more services or purchase more products from you. On and on again. This is only possible when you have a good value system and have built a value ladder to make your customers returning customers
So whenever you have issues with a value system and building a value ladder, the solution is to have more than one product or service and make sure they are highly valued, you then need to create a value ladder for all your customers to keep buying from you, from buying product one to proceeding in getting your product two and I bet you. You will love the gain
4: Wrong Promotions:
The wrong promotion has killed a lot of business, imagine someone putting up about 500k naira, into a promotion with zero returns on investment, such an experience can demonize most people
So the solution is to always outsource good marketers, with practical proof, and don’t rush into promotions, learn to start small, then grow as you keep getting returns. Learn the types of promotions that are working for you and keep increasing your promotional budget on such areas or platforms.
5: Lack of Patients
Lack of patients, sorry to say that online business also requires patience, just as a farmer needs patients to grow a tree plantation. You also need to be patient and keep doing what is right to grow your online business. The solution is simple
When you start an online business, don’t give up so easily, sometimes it may take up to 6 to 2 years before you can start seeing some profitable results. This is when the lack of patients kills a lot of business. Hope you are happy to have learned this today. So let’s proceed to the 6 reasons your online business is not growing
6: Ignoring SEO
To date, search engine optimization still plays a great role in all online businesses, is one area you can’t afford to ignore as most people who ignore it are today paying the price
While those that leverage SEO are today benefiting from the power of Google, Bing, Youtube, and every other search engine portal out there. SEO is important, please don’t ignore such
Learn to hire an SEO professional, get my Mbonu Watson SEO Services and let me help you to optimize your website, and your online business and drive massive organic traffic from Google and Bings to your website
Organic traffics are 70x more profitable and better than paid traffics, get my SEO services and watch how Google, Bings, Youtube, etc work for your good. Please by all means necessary. DON’T IGNORE SEO. and (Don’t Be Jack Of ALL Doings)
7: Trying To Do Everything by yourself.
The freebies guys who have never purchased any toolkits from Nairalearn come to talk of leveraging any of our Nairalearn Courses
Don’t be that person who tries to do everything by himself or herself as this attitude can kill your online business or bad, Make your growth stagnates
Those who try to do everything by themselves even when they need to hire a specialist in such area. imagine none SEO professionals trying to rank the website, yes it will rank or they may end up harming the platform
Again trying to do it all by yourself, may take you years for work a professional SEO can do for 2 to 3 months with great results
Imagine someone depending on freebies, including free hosting for his website, free social media promotions, free email marketing, everything free. imagine this type of people with zero financial budget to boost their business.
People who have been seeing my post about the Whatsapp Mass Sender Application and yet ignore such a powerhouse Whatsapp marketing toolkits, Just Imagine such people
Nothing keeps an online business, or website static when you depend on 100% freebies. free solutions to growth and sales. Remember you are only in business when your income profits exceed your expenditure
Hope these 7 reasons your online business is not growing have educated you a bit, what matters now is action, take action in changing some of the things holding your business from fast growth. Read more Blog Post here and check out the Nairalearn Course section
ALSO READ: Don’t Run Out Of Online Business Do This To Keep Growing and keep visiting Nairalearn portal
