Why your Ecommerce business will FAIL
97% of Ecommerce businesses fail…….that is a staggering figure, but completely understandable when you realise there are nearly 1 Billion websites out there.
The one billion milestone, at the current rate, will be reached by the end of 2014! That is a SERIOUS amount of competition out there.
So, Why do Ecommerce businesses fail?
In my 10 years of Ecommerce experience, I have seen the number of Ecommerce businesses grow exponentially, and the larger retailers finally understanding that Ecommerce is here to stay and will only get bigger.
The most common mistake I see people making, is that people believe it is easy…..this is completely true…it is VERY easy to set up a basic transnational website…I could build you one myself in a couple of hours and I am no detailed techy…
So, if it is easy to build a website, why do Ecommerce businesses fail? Well that is my point – they fail because they build a website and not an Ecommerce business….it is as simple as that.
With 999,999,999 competitors out there you have to be amazing to have a successful Ecommerce business, and you have to spend time and money on your business.
I have set up 5 Ecommerce businesses over the last 5 years and they are all still alive and kicking…why is that? Do I have a special formula? Not really, I understand that you have to build an Ecommerce business and not just a website.
My Etail Success programme, has learnt how to make a succesful Ecommerce business and actively helps grow Ecommerce businesses into long term, successful Ecommerce businesses.
The process is the same as any business…you have to do four things and do them well….
- You must PLAN Your Ecommerce Business – just like you would with any other business
- You must BUILD Your Ecommerce Website and become Multichannel – you need to build a fantastic website AND a whole series of support functions around the website to get visitors and customers to your website
- You must LAUNCH your business. This involves lots of Marketing and Social Media
- Finally your need to MEASURE your business. Understand what is making your business work, by Testing and Improving your business
So, it is easy to set up a website, but harder to set up a successful Ecommerce business and that is why I know that your Ecommerce business will fail.
