Category Archives: Economic Times

5 Mistakes That Make Online Business Loss

If you are someone who has ever tried an online business and experienced a failure such as a decrease in the sales rate, then there is an error in your business.

Such mistakes can be aspects of the business that are under-scrutiny and can make the brand unrecognized or the consumer interest diminished. Here are some common mistakes often made by online businesspeople:

1. Not adjusting bids with requests

Many run an online business without thinking about market demand, they sell goods that are not needed by people. Preferably, before building an online business, do market validation in 3 ways:

A. Measuring market demand

This can be done using the Google adwords keyword planner application by entering your product and location, with an instant, this app will give you information on the number of searchers for that product.

B. Predicting trends

Many products that are only temporary and so that sales can continue to be stable, you should be able to predict the pattern of demand. One way that can be done to measure trends is to use Google trends.

You just need to type the name of the product in the app, and Google trend will show a graph showing the demand for the product.

C. Measuring competition

The more competitors, the higher the demand for the product being sold, you should take advantage of this competition to find which products have a considerable quantity of sellers.

Take advantage of Google’s search facility by typing “Sell [product type]”. Pay close attention to online stores that sell similar products and what can be done to be superior to them.

2. Not responsible for the plan

If you have made a plan for your business, as much as possible obey the plan. Online business is one type of business that has a very tight level of competition.

In order not to be left behind by competitors, you must be able to comply with the plans that have been prepared, both about marketing plans, finance to sales.

3. Lazy organize social media administration

Lazy is a trait that should be avoided when doing business. Many online businesses actually have good prospects in the future but are hampered simply because they are rarely updated and their accounts are unkempt.

Creating a social media account for an online business is easy, but managing it requires an example.

Not that you can carelessly add content within your business account. You must provide clear and appropriate information to the products sold.

By continuing to provide the latest and informative content, customers will not get bored visiting your site.

4. Closed minded

In living a business, you must be able to keep up with developments. There’s always something new every day, if you’re closed-minded, you’ll just be left behind. Learn from anyone, anytime and how.

If the person has ever experienced a failure in opening an online business, you can learn from their mistakes. If the person is successful in running an online business, you can follow their business strategy.

Learning from multiple sources is one of the things that can help the development of business.

5. Not maintain the quality of service to consumers

The most important aspect in a business is the consumer, as the saying goes ‘the consumer is king’. By maintaining a good relationship with consumers, you are 1 step ahead of competitors.

Even if a transaction has been made, you can ask for opinions, suggestions and criticism from customers. Online business through social media is customer-centered and customer satisfaction, therefore, communication with customers is something to be maintained.

Do not give up easily. Online business and other businesses must be run with a strong determination and strong discipline. No business can succeed instantly, everything takes hard work and failure and rises.

Learn from the mistakes that have been made and immediately get up, slumped in failure for too long can damage the mental and reduce your motivation.…