Top 3 Reasons Why E-commerce Owners Fail
Written by Yannick Piessens on Jan. 7th 2020
Some researchers claim that e-commerce failure rate is as high as 97%. E-commerce is one of the most popular business models because it is so easy to set up. Create a website on Shopify and it’s done, you are an e-commerce owner. But is it really so easy? No, it isn’t. Here are the top 3 reasons why:
If you are an e-commerce owner, I sincerely hope you are steadily increasing your sales and not making these mistakes.
Reason #1: Bad Marketing
How does an e-commerce owner get sales?
He needs high-quality traffic on his website with buying intent. It is impossible to get sales if nobody goes on the website. And the people who goes on the website needs to be interested enough in the product to pull out his credit card information.
It sounds simple but most people fail to use the right marketing strategies and go bankrupt by spending all their money into Facebook advertising.
Reason #2: Not Doing Any Market Research
"Let’s launch the ads now ."
It is unbelievable how most people don’t do any market research. Market research is one of the most important factors to anyone’s success. Getting the right product to the right people is one of the fundamentals of marketing. Good market research will tell if a product is good and if there is demand for it.
Reason #3: Not Scaling
Most e-commerce owners don’t have any vision. They just want to make some money and don’t think long-term. So they just enjoy the same amount of revenue every month and when product interest dies down, they stop making sales.
Successful e-commerce owners know how to maintain high standards and always think ahead to reach the next level.
If you are an e-commerce owner, I sincerely hope you are steadily increasing your sales and not making these mistakes.
Yannick Piessens
Yannick Piessens helps e-commerce owners get more sales every day and scale their businesses. He is an expert at helping people understand what are the weak areas in their marketing and how they can skyrocket their sales. If you're interested in increasing your sales exponentially and scaling your business then definitely reach out and request a free strategy session today.
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