We live in a digital age, where almost everything is done "online" now. Offline marketing or even socializing modes now find their avenues closing with each passing year. The days of meet and greet have now turned into "direct messages" and "news updates." Therefore, in such a scenario, it becomes even more relevant to change your online business process. While there is of course still a great need for offline action, some of the complex tasks like marketing are finding their foundations by shifting to the online medium. The days of print and television media have been largely replaced by social media.
Yes, social networks! The medium that was launched to help Earth's population stay in touch for years to come is now being used for the purpose of promoting and even establishing business. However, the point to keep in mind here is that there are still many (read: too many) companies and mainly startups that are going under when it comes to digital marketing. Out of 10 startups taking the digital marketing course, only 2 are likely to be successful. Why is this then? Why do startups fail in digital marketing? Below are some of the possible reasons one may want to consider in fixing up their digital marketing strategies.
1. Too Many Expectations, Too Less Time
The main trick to being successful in digital marketing is to be consistent and consistent. But what most startups are doing is relying on so-called magic methods to make a quick buck. Various online sources have appeared giving what most are addressing as the safe ways to successful digital marketing, which in turn is leading to a sense of false hope in budding businesses.
2. Technical Teams Vs. Marketing Teams
Most workplaces often report a terrible relationship between their different teams. However, as a new business, it is important that all departments work together. The technical and digital marketing team will need a complete marketing report of the market trends, keywords and expectations in order to design an appropriate strategy.
3. Incorrect Audience Basis
What is the audience base and the area you are targeting? For digital marketing to be successful, it is very important to identify the absolutely precise target area. All digital marketing tools involve the use of data relevant to the target audience and therefore incorrect identification of the target base will result in the wrong strategy.
4. Content Above All
What most companies don't 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 attractive to the audience.
5. Overused Techniques
What works for a business may not necessarily work for your business as well. One of the main reasons for digital marketing failures for startups is the fact that most try "Ctrl C + Ctrl V" the tricks and techniques that other companies use. Therefore, each business requires an individual and unique effort and strategy.
6. Investments That Fade
When you start a startup, you strive to get as many investors as possible to ensure all finances are taken care of. However, it often happens that while they take inventory and other physical attributes into account, they sometimes forget about the digital marketing budget. Having a well-estimated and well-planned budget is one of the essential points to have a successful life in digital marketing.
7. One-Way Methods
Digital marketing is a constantly evolving area and it comes across new tools and techniques every day. Therefore, companies that ignore the growth of the market and stick to unique tools often collapse due to stagnation of business strategies.
8. Ignore Competitors
Like any other business tool, it is an absolutely essential part of digital marketing to keep track of competitors and their digital marketing techniques. Especially for a start-up company, keeping an eye out for the tricks used by competitors is often beneficial in generating new ideas.
9. Bug Tracking
Every business requires accurate tracking of all results. Regardless of the efforts you make, you should always monitor the result to be sure of the success of your strategies. Many startups often focus too much on doing a lot of things while ignoring the results and still aiming for air.
10. Incorrect Priorities
A successful business strategy requires you to correctly set your priorities and focus on what is essential for your business and the current stage. At the beginning of a startup, for example, lead generation is the most important aspect and not brand building.
As a startup, it is often difficult to succeed in a market dominated by established brands. However, it should be noted that being successful is not an impossible task. In recent times, we have noticed the emergence of new smaller brands that have reached higher heights in a short period of time.
As the leading digital marketing agency in India, we at New Vision Digital pride ourselves on the services we offer to enhance your digital marketing game. Our list of successful partnerships around the world is a testament to our superior services and professional aptitude.