Online shopping sales(online store) are growing rapidly every year, but the fact is that online entrepreneurship is still difficult to succeed. Research estimates that 80% to 97% of e-commerce businesses or online stores fail.
Even if this is a low estimate, four-fifths of small businesses still fail. So, why do online shops have such a high failure rate?
The simple answer is fierce competition. There are more than one billion real-time websites, and even if they are reduced to e-commerce websites, there are currently 12 to 24 million websites in operation.
Of these, only about 650,000 (or 2% to 5%) have annual sales of at least $1,000. If you want your online store to become a small group of successful people, not only need to remain open, but also continue to update and develop, the following will share the specific reasons for the failure of the online store, so that you can anticipate challenges and avoid mistakes.
The most common reasons for online store failure include:
1. Sell the wrong product
One of the main reasons for the failure of online stores is product failure. If no one is interested in your product, then you are in a difficult situation from the beginning. This is the biggest decision made when opening an online store.
What should you sell? Even if there are many other websites selling the product (such as brand-name shoes), if you market the website correctly and have a value proposition, you can still find a marketing plan that suits you.
Make sure that online users want to buy the products you want to sell!
2. Unrealistic pricing
We have all heard these stories and saw websites earning millions of dollars. They look very amateurish. Despite their poor appearance, these sites will succeed when they offer reasonable prices.
Of course, if some online stores have better designs and solid marketing strategies, they will even do better, but the idea is that reasonable prices will attract customers.
This is the case in the retail market outside the network, but when the next store is just a click away, it is particularly important on the network. Make sure you have researched your competitors and the price is competitive.
3. No marketing plan
Make sure you plan how to market your website. Without a strategy, you will never achieve good sales. Make a plan and take the time to execute it.
Remember, if the plan cannot be implemented the first time, please adjust it and continue to increase your return on investment. Since most online sales start from search, search engine optimization and paid search marketing strategies are required.
4. The site is not in the Google search rankings
A large part of the marketing plan and business model should be e-commerce search engine optimization (SEO). The basic meaning is to bring your online store to the top of the search engine. When searching for keywords related to your online store, search engine users can find your online store.
According to statistics in the United States, 36% of customers start searching for products on Amazon, and 35% of customers start searching on Google.
Therefore, keyword ranking for your products on Google is still one of the best methods.
5. The online store design is terrible
Of course, the appearance of the website may be one of the biggest factors affecting the success of an online store. All of us open a website and click the back arrow as soon as the website loads. Why? Because the website looks very sketchy.
Just like they will steal your credit card number, you will never get the goods you bought. Even though they may be a legitimate company, we all feel worried when shopping online. The goal is to build a strong, trustworthy brand and develop your online business.
6. Lack of call-to-action
If you want customers to add items to their shopping carts, make sure that the button is prominent and easy to press. If you want them to place an order with you over the phone, please make sure your phone number is visible.
Make sure to have a convenient shopping experience, tell users where to go, what to do next, and of course to motivate them to sell.
7. Content without quality
A large number of content introductions will enable customers to learn more about you and make shopping in the online store easier. Build high-quality content around your products by formulating buying guides and unique product details pages.
The content also includes videos and images. It is important not only to sell your product, but also to inform your customers in detail about any information about the product. Substantial content will also help you improve your search engine rankings.
8. Transportation costs are too high
The freight is difficult to pay. We all hate it. Who wants to buy a product that costs 35 yuan and has a shipping cost of 20 yuan? Even if 35 yuan is a good price, but you are not willing to pay that 20 yuan!
Try to reduce shipping costs and provide free shipping as much as possible. Let me emphasize again, free shipping. You will sell more!
9. No promotion or urgency
Promote! Give customers a reason to buy today! I know that many websites always have a 15% discount. This is because the price is set higher by 15%, and now it makes the product look like it is on sale. It’s very simple.
When you do a promotion, make sure that the promotion is easily visible on the website, and even use a timer to count down the sales deadline.
10. Photos of bad products
As the saying goes, “a picture is worth a thousand words”. If customers don’t want to read multiple text passages, they can learn about your product by looking at photos.
Make sure your users can zoom and view detailed information. If your product needs to be used at multiple angles or tilted backwards, please show it!
11. No value proposition
Unique. You must make your company unique. Whether your product is organic or has a connection to a charity, please let people know.
If you can’t think of the reason why customers spend money in your online store instead of your competitors, then your customers don’t necessarily have to shop in your online store.
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