We’re living in a digital age, where almost everything is now done ‘online’. The modes offline marketing or even socializing are now finding their avenues shutting down with each passing year. The days of meet and greet have now changed into ‘DMs’ and ‘news feed updates’. Therefore in such a scenario, it becomes even more relevant to shift your business process online. While of course, there is still a huge need for offline action, some of the complex tasks like marketing are finding their bases shifting to the online medium. The times of print media and television media have now been replaced to a great extent by social media.
Yes, social media! The medium that was launched to help the population of Earth remain in touch with each other for years to come, is now being used for the purpose of promoting and even establishing businesses. However, the point to be noted here is that there are still many (read: way too many) businesses and mainly startups that are sinking when it comes to digital marketing. Out of 10 startups that take the course of digital marketing, only 2 are likely to succeed. Why is it so? Why do the startups fail in digital marketing? Given below are some of the possible reasons that one may want to consider in order to fix their digital marketing strategies.
1. Too many expectation, too less time
The main trick of succeeding in digital marketing is to be consistent and steady. But what most startups are doing is relying on the so-called magical methods of making quick money. Several online sources have come up giving out what most are addressing as the sure-shot ways of successful digital marketing, which in turn is giving rise to a sense of false hope in the budding businesses.
2. Technical Vs Marketing Teams
Most workplaces often report a terrible rapport between their different teams. As a new business however, it is important for all departments to work together in tandem. A thorough marketing report of the trends, keywords, and market expectations will be much needed by the technical and digital marketing team in order for them to devise an appropriate strategy.
3. Incorrect Audience Base
What is the audience base and area that you are targeting? For digital marketing to succeed it is very important to identify the absolutely accurate target area. All digital marketing tools involve the usage of data relevant to target audience and thus the wrong identification of target base will result in an incorrect strategy.
4. Content Above All
What most businesses are failing to recognize is the importance of qualitatively best content. No matter how much budget you put in, or how many hours you invest, your product will not sell if your content is not engaging for the audience.
5. Overused Techniques
What works for one business may not necessarily work for your business too. A major reason for digital marketing failures for startups is the fact that most try to ‘Ctrl C + Ctrl V’ the tricks and techniques used by other businesses. Every business thus requires and individual and unique effort and strategy.
6. Fading investments
When a startup starts out, it works hard to get as many investors as possible to ensure that all finances are taken care of. However it often happens that while they keep inventory and other physical attributes in mind, they at times forget about the digital marketing budget. Having a well-estimated and well-planned budget is one of the essential points of having a successful digital marketing life.
7. Single directional methods
Digital marketing is a forever evolving area and finds itself with newer tools and techniques each day. Thus the businesses that ignore the growth of the market and stick to single tools often find themselves sinking due to staleness in business strategies.
8. Overlooking competitors
Like any other business tool, it is an absolutely essential part of digital marketing to keep track of the competitors and their digital marketing techniques. Especially for a startup company, keeping an eye out on the tricks employed by competitors often turns beneficial in generating fresh ideas.
9. Tracking failures
Every business requires an accurate tracking of all results. Whatever efforts you input, one must always keep a check on the output to be sure of the success of their strategies. A lot of startups often focus too much on doing a lot at the same time that they ignore the results and keep aiming in the air.
10. Wrong priorities
A successful business strategy demands that you set your priorities right and focus on what’s essential for your business and the current stage. In the beginning of a startup for example, lead generation is the most important aspect and not brand building.
As a startup, it often becomes tricky to succeed in a market dominated by the already established brands. However one must observe that succeeding is not an impossible task. In the recent times we have noticed the rise of new smaller brands that have reached superior heights in a short period of time. As a leading digital marketing agency in India, we at New Vision Digital, take pride in the services we offer to better your digital marketing game. Our list of successful partnerships across the globe are a testament to our superior services and professional aptitude.