You’ve probably been overwhelmed by the suddenness of the Internet explosion and now find yourself wondering how you could have been sidelined by so much ease and flexibility. Maybe you even feel a little resentful at having to start from scratch rather than being able to continue running your online marketing business as usual. If so, don’t worry: you’re far from being alone. Here are ten online marketing problems that can and probably will affect you. Keep an eye out for them, and you’ll be well on your way to running a more profitable business.
1. Increasing competition
One of the consequences of the ever-increasing pace of technological change is that your competitors are racing to keep up with you. The more people that use the Internet, the more competition there is, especially in online marketing. If you want to keep your customers and increase your profits, you need to find a way to stand out from the crowd.
The good news is that there are ways to do this. One of the simplest and most effective methods is to stand out from the crowd by giving customers something that they want. For example, if you are a car dealership and you know that your customers want a good deal but are a little hesitant to spend a lot of money on a car, you could do something about this by offering them special financing. Or, if you know that your customers want to be able to eat at restaurants nearby, you could create a rewards program where they get frequent flyer miles for eating at certain restaurants. Customers will like you because you’re giving them something they want, and they’ll be happy to keep returning because you’re giving them more of what they want. This is how you maintain a healthy profit margin and how you stand out from the competition.
2. Changes in social media legislation
Depending on where you are in the world, you might find that certain types of content are prohibited by law. This can make it difficult to grow your audience and make sure that your content is reaching the people that need to see it. Facebook recently altered its algorithm to restrict the content that its users see, and you can bet that many small businesses were caught by surprise. If you’re not prepared for this type of change, you could lose a lot of potential customers.
Fortunately, these sorts of legislative changes usually come with a grace period before they take effect. So, you’ll probably be able to use this time to prepare and ensure that your business remains viable. The reality is that we’re all subject to legislation, and the more tech-savvy and prepared your customers are, the better position you’ll be in when new laws and regulations are put in place. For example, if you sell food online, you’ll want to be sure that your vendors are legally able to ship food to your customers. If you get too many complaints, you might find that the supply of your goods is restricted as well, so make sure that you are aware of any legislation that might impact your business.
3. Changes in consumer behavior
The second most important issue to consider after losing customers is keeping them. One of the best ways to do this is by adapting your game plan to fit the times and changing consumer behavior. For example, if you look at the evolution of social media, you’ll notice that it started as a means of connecting with people around the world and then slowly started to resemble a market place. This is because, as people got more used to using the Internet and social media, they started expecting to be able to find whatever they’re looking for and engaged with content that appeals to them.
If you want to thrive in the ever-changing digital landscape, you need to adapt your strategy and make sure that your offer fits the new consumer behavior. If we compare this to automobiles, the early models resembled a status symbol, and it wasn’t until the 20s that they started resembling functional everyday vehicles. To succeed in this ever-changing environment, you’ll need to find a way to fit your business into a few key areas. First, ensure that you have a website that is easily accessible and functional. Second, make sure that your social media platforms are up to date and that you’re posting regularly and engaging with your audience. Finally, analyze the data that you’re collecting, using tools like Google Analytics, and find out what’s working and what’s not so you can improve your strategy. For example, maybe you notice that your blog posts are gaining a lot of popularity, but it’s the product reviews that are getting the most clicks.
4. Changes in technology
If you want to remain viable in the ever-changing digital landscape, it’s important to understand the role that technology plays in your business and how you can leverage the advantages that technology brings. First, make sure that you have the required software to run your business. Even if you think that you don’t need it, you might find that you do after all. For example, if you don’t have a CRM system, you’re probably wasting a lot of time going through email threads and trying to piece together customer information. Having a CRM system will allow you to keep your customers and grow your business effectively and efficiently. Second, make sure that you’re always up to date with the patches and security updates for your software. This will help ensure that your business remains secure and will help reduce the risk of expensive data breaches. Third, make sure that all of your employees are educated about technology and are using it effectively. This will help ensure that your business operates at its optimum capacity and reduce the chance of errors and omissions. Finally, make sure that you’re aware of any technology that might be beneficial to your business and how you can use it effectively.
5. Changes in buyer persona
The buyer persona is a little like the consumer behavior described in the previous point, but it focuses on the individuals that buy your products or services. If you want to grow your business, it’s essential to understand who your customers are and what they want. It might be helpful to look at other retailers to understand the buying behavior of your customers. In the early days of retail, it wasn’t considered rude to look a customer in the eye as you handed him or her the goods purchased. In today’s world, it’s considered rude not to look at your customers as you try to figure out what they want. This type of behavior makes a HUGE difference in your ability to connect with customers and turn them into repeat buyers. To prepare for this new, more personalized world, you’ll need to establish buyer personas and use them to your advantage. First, look at your customers as individuals and try to understand what motivates them. Are they looking for a bargain? Is customer service a high priority? Is security a big concern? Having a clear picture of your customer’s needs and wants will help you develop marketing strategies that will resonate with them. Second, look at other retailers and see what they’re doing that you’re not doing and why you should be doing it. Finally, use your industry knowledge to establish buyer personas for the different types of customers that exist in your niche.
6. E-commerce platform changes
The e-commerce platform is the software that you use to process retail transactions, so it’s essential to understand how these changes will affect your business. First, make sure that you have a reliable e-commerce platform that is easy to use. It should have all the necessary features that you need to facilitate online transactions, and it should be easy to learn and understand. Second, make sure that you are aware of any updates that might be coming. The e-commerce platform that you use might be released with new features or have patches to fix existing issues. Third, make sure that you have an SSL certificate installed on your website so that customers feel secure making purchases online. Finally, make sure that you’re checking out the reviews of the e-commerce platforms that you’re considering using so that you get an idea of how others feel about their services. This will help reduce the risk of choosing an e-commerce platform that might not be suitable for your business.
7. Changes in competition
One of the biggest problems that small businesses like yours face is keeping up with the ever-increasing competition. In addition to technological change and evolving consumer behavior, you have other retailers who want to take your business away. This is where understanding your customer’s needs and wants comes in handy. For example, if you are a hair dresser and you know that a lot of your customers find it difficult to find the right hair accessories for themselves, you could create a special offer where they get a free set of hair accessories with every shampoo purchase. Or, if you know that a lot of your customers like to cook and entertain friends at home, you could create a rewards program where they get points for each recipe that they share on social media. Customers will like you because you’re giving them something that they want, and they’ll be happy to keep returning because you’re giving them more of what they want.