Why Startups in the Digital Domain Fail So Quickly?

Posted On 24 Jul, 2019 by Vishal V

Becoming an entrepreneur and starting a business is not easy. The fact is that 90% of startups do not survive the tough business world. Startups have great potential to improve journalism. In theory, they can be the sites where new products, new sources of revenue and modified organizational methods are discovered, tested and accelerated. However, the situation seems to be complicated.

Some bad ideas on the Internet

• This 90% failure rate of new Internet businesses is not surprising when one thinks about the type of people who start an Internet business.
• Most people seem to think that being a successful Internet marketer is as simple as building a website and getting your own domain name and that they could not be further from reality.
• There is no magic button to support to get instant and massive traffic to their website, which looks like a million dollars, as well as handfuls of funds at their bank. It just will not happen.
• Internet marketing does not work on autopilot. And although established internet marketing types do not dedicate the long and boring hours they have built by doing this in the past.
• This does not happen overnight for anyone. Most people are unprepared for the time needed for the success of Internet business.

Do not have a friendly website

A basic ingredient for running an online business is having a well-designed website. You must put everything about your business into your web pages. People will find your business on your website. When they visit your website, it should give them a good first impression.

Do not have a good social media presence

Another reason for the failure of many online businesses is that they simply ignore the power of social channels in promoting a business. In the modern world, people use social channels to get up-to-date information. They communicate with the world using a variety of these channels, including Facebook, Twitter, YouTube, Instagram, Google+ and many more.

Your potential startup customers are mostly on different social media. Make sure your business has a dedicated social media page on most of these channels. Then, regularly post content about your company, business, products or services. The content must be such that they can interact with your business.

Do not be ready to beat the competition hands down

Despite the fact that most industry experts and veterans suggest that start-ups do not pay attention to competition, in reality about 19% of start-ups fail because they are not really prepared to compete.

It makes sense to conduct a thorough competition analysis to understand what your competitors are doing and why. You need to know the strengths and weaknesses of your competitors to make informed decisions and plan your marketing activities strategically.

Many online startups fail and close abruptly because they do not plan many things. They have very little information about the target market and customers. They do not make marketing efforts to establish meaningful visual communication with their potential customers. In addition, they do not deal with the financial aspects of the business.

If you want your startup to survive and grow in digital space connect with us on for free consulting @ info@valuedigital.co.in