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Similaire à Presentation_display_version__8_Reasons_why_e-commerce_businesses_fail
Similaire à Presentation_display_version__8_Reasons_why_e-commerce_businesses_fail (20)
Presentation_display_version__8_Reasons_why_e-commerce_businesses_fail
- 1. 8 Reasons why e-commerce businesses fail
- 2. o An 80-percent failure rate???!.. o There are 8 common contributors to ecommerce failures
- 3. 1. No Real Investment Like any new business, an online store will require capital and a significant amount of labour. Point of fact: Even relatively small retailers will happily invest $50,000 or $100,000 into a physical store, but decline to spend $5,000 for an online one which may actually have greater sales potential!
- 4. 2. No Cash Flow o Not enough cash to keep operating Example: An entrepreneur invests all his cash in inventory and there is no money for marketing later on!!!
- 5. 3. Poor Inventory Management Inventory management can be one of the most significant problems new ecommerce operations will face. TOO MUCH vs. TOO LITTLE Freight costs, associated with getting inventory to your business, can also be significant.
- 6. 4. Too Much Competition The Internet is a land of opportunity for even the smallest of businesses. But almost no online startup can survive in the face of significant, established competition. Simply put, it will be difficult — or at least relatively more difficult — to sell mass-market products than it will be to sell niche or unique products. So find your niche!
- 7. Here are some possibilities for you to consider: iCUP Uni-Key …the next step in digital 3D Printing
- 9. 5. A Bad Website Even the best business plan cannot always overcome a bad website. A modern e-commerce site must be secure, functional, have great search, adapt to mobile devices, and load very quickly. Anything less is unacceptable.
- 10. 6. Poor Product Photography To understand and want a product, customers need state-of-the-art visual representation of it. Poor product photography is one of the cardinal sins in online retailing.
- 11. Good vs. Bad Product Photography ??? You be the judge!
- 12. 7. No Website Traffic Website traffic is the flow of shoppers into and out of your store. If you want to make sales, you need traffic. A fast way to get traffic is with pay-per-click advertising. Pay per click (PPC), also called cost per click, is an internet advertising model used to direct traffic to websites, in which advertisers pay the publisher (typically a website owner) when the ad is clicked. A much slower, but ultimately more powerful, way to drive traffic is with content — i.e., content marketing, social media, or on-site product merchandising.
- 13. 8. No Patience An ecommerce business takes time to grow… Take root Grow Bear Fruit
- 14. Finally, an example to demonstrate an e-commerce failure and its causes…