Introduction to Episode 153
Episode, one 53 of the marketing life podcast. This is Tara Timothy, your host. And today, guys, we’re gonna be talking about why I have found that businesses actually fail online and with their online marketing efforts. So let’s not waste any more time.
Six Reasons Why Businesses Fail Online
So like I said, today, we’re going to be talking about six things that I personally believe why I have seen businesses fell on line. So this is kind of a touchy subject. You know, there’s probably other reasons why as well, they fell, but these are six reasons I personally came up with. So during this time, if you find something that you believe in a reason why posts in the comments or shoot me an email if you’re listening to the podcast.
1. A Product Guarantee
So the first thing I want to talk about is a guarantee. So there’s a lot of companies out there that have a product that’s a little bit more expensive. I would call it. It’s not, it’s not super cheap. Right. And what happens is they run ads and they expect the, like our products, amazing dah, dah, dah, but they don’t have some sort of guarantee. So people are very hesitant to actually purchase their product because there’s no guarantee.
A Guarantee Can Make Or Break A Business
So for example, a company that has a thousand dollar electric scooter, you know, potentially you’re not going to be like, Oh, I’m going to buy it right away. Now, if they have tons of good reviews and things like that, then yeah. Potentially could work out for them. But I personally believe that a guarantee can make or break a lot of online campaigns. So I’ve personally seen that on my end, I, once worked, was working with a company and their product was okay, and what happened is they kept selling it and we got bad reviews and the company just was a wash in my opinion. So the first thing I said was a guarantee.
2. Don’t Follow Up on Leads or Sales
The second thing is they actually don’t follow up with their leads or their cells. So basically they’re generating leads. They’re getting leads coming through, but they’re not grinding and actually finding and following up with these actual leads. So this is a huge thing that I have talked about quite a bit, but a lot of times companies don’t follow up with their leads. So they’re going to fell of course, online, if they’re not following up with their leads. So the second thing, like I said was they don’t follow up.
3. Doesn’t Give the Campaigns Enough Time
The third thing is they actually don’t give the campaign’s time. They go on Facebook or Google. They spend some money for one month. And after that, they stop spending money because their goal it’s not working, but they don’t truly give the campaign actual time. And a lot of times it takes time to these campaigns. In my own personal experience, I’ve been working. I worked with a company for six months and didn’t really produce the results they were looking for. And after a while, a good chunk of time, we got the campaigns dialed in and then it kind of snowballed on us and everything was more profitable. So a lot of times it just takes time. They don’t give it enough time.
4. Businesses Don’t Know Their Numbers
The other thing is, this is number four. They don’t know their numbers. So a lot of times this is how things work out in my head. Anyways, let’s take a product. For example, let’s say the product is $50. And our row as number on Facebook ads is like a 1.1 or just a solid one. But the solid one we’re breaking. Even if it’s a 1.25, then we’re making a little bit of money.
So this is, uh, how I look at this is if we are a one that’s a win, like if we can get these customers to come back over and over and over again, then it’s a win that they are actually coming back and purchasing our product. Now, if they purchase four, five, six, seven, eight times, and we’re not spending any money to get them back into the door, then all of that. Now that Roaz number increases hypothetically.
Why Is It Important?
So that’s how I look at it is they actually don’t know their numbers. A lot of times they don’t know their conversion rates. They don’t know what their cost per lead or acquisition is. They don’t know these types of numbers. And it’s super important that you know these numbers so that you can actually scale your campaigns and you can scale your business. If you don’t your know your numbers, then it’s hard to scale. Sometimes people just spend money and they’re like, Oh, we’re making more money. But they would know if they knew exactly their numbers, then they would skill efficiently and more effectively.
5. Their Customer Service Sucks
Now this one, this one is a touchy subject as well. But their customer service number five sucks. They just have terrible customer service, terrible follow up with their clients. And they get people that are off. Even though they have a great product. If they would just get on the phone, talk to them for three minutes, answer their questions. Then they wouldn’t get those bad reviews. So customer service will kill you in the long run, especially when it comes to online marketing, because people are going to be Googling and searching your reviews. And if you have bad reviews, then more than likely they’re not going to buy it. So that’s another reason you will actually fell online.
6. Invest in Online Marketing
The final thing is number six, and that is invest. So actually invest in online marketing. So like I told you guys, it takes time, but how I look at it is online marketing is an investment. You have to invest in your online marketing because a lot of times you can’t track things as well from your online marketing efforts. So for example, if you have a crappy website and someone comes to your website, potentially you’re going to lose them. Now, if you invested in online marketing efforts and invested in your website and made a good looking website and set it up properly, then potentially, and more likely they’re going to convert into a buyer.
So investing in online marketing is an investment. Like I said, online marketing is an investment. You put money into ads, it’s an investment. It’s just like the stock market. If you buy a stock at a certain dollar amount and it goes up, you make money. If you put money into advertising, Google ads, Facebook ads, you get a return on your money in the long run. So just investing in online marketing is going to help your business grow. And if you never invest in it, then it’s going to fell online and your business is going to fell because that’s the way things are going, especially with all this stuff going on in the world. So make sure that you invest in your online marketing efforts.
Conclusion to Episode 153
So guys, that’s gonna wrap up this episode, episode one 53 of the marketing life podcast. And I’m tailored to meet the, your host. If you guys need help with any online marketing efforts or things like that, feel free to click the link or come to Taylor, timothy.com or my new rebrand anyways, local dma.com. And we can take care of you, give you a free marketing strategy so you guys can start investing in your business online. So thanks guys for watching this video and listening to the podcast as well.