Today, with an incredible increase of internet users and numerous technical advancements, it has become much more convenient to shop online from the comfort of your own home or even when you are on the go, then having to spend hours and hours in crowded shopping malls.
That is why more and more people are deciding to open up an eCommerce business and sell their products or services online. While many such online businesses manage to acquire thousands of customers worldwide and achieve amazing profits, some fail to succeed due to an overly competitive market or because they simply don’t have what it takes.
Running an online business means so much more than just having a flashy and attractive website (although that does count, nevertheless), yet people who are just starting don’t even realize what challenges might come their way. Therefore, in this article, we will be focusing on some of the most common issues you may encounter in the beginning, so that you can hopefully prevent them from occurring in the first place.
1. Failed expectations
Whenever people embark on a new business venture, they are, naturally, excited and full of expectations. Even though this serves as a great motivation, you must stay grounded nevertheless and be aware of the fact that not everything will instantly go in the right direction.
When you are just a beginner when it comes to online businesses, chances are you won’t achieve incredible success overnight. Even if you are quite knowledgeable about the market and put a lot of your time and effort into your new business, your initial profits may fail your expectations.
In fact, a lot of online business owners invest a lot in their first year but don’t earn a single cent for a couple of months. However, you mustn’t let that discourage you and make you walk away from your ideas. The most important thing is to stay strong when times get tough.
After you have survived this rough period, your business will start to blossom. So, make sure you have done everything in your power not to give up, don’t set unreachable goals, and always focus on what first inspired you to start this adventure.
2. Being in charge of everything
When you are fully inspired, you might not be completely realistic and tend to bite more than you can chew. Many inexperienced business owners who are just starting think that they have the ability to handle each and every aspect of their online company.
If you think that you can be in charge of sales, marketing, management, and business development all by yourself – you couldn’t be further from the truth. It is important to have the right people on board with you, who will handle these positions separately.
Even though you are in charge of your business, it doesn’t mean that all of the workload should fall on your back. So, hire enthusiastic people with the necessary skills who can be your allies in achieving long-term success.
3. Marketing challenges
It is rather difficult to market a new online business because of the severe competition out there, so the crucial thing is to create a really good marketing plan. Pretty much every person can start an online business, but not many will experience success.
That is why it is highly advisable to do an extensive research and find out what your customers really want and how you can deliver that do them in the best way possible. Your marketing strategy will greatly determine your success, so make sure to use tools such as social media platforms, blogs, and Google AdWords to spread the word about what you have to offer.
4. Not using proper technology
When you are doing business online, you must be in touch with the latest technology and make the use of different tools, especially when it comes to your customer support. While it is important to have support agents who your customers can contact whenever they need a solution for their problems, having a secure chatbot on your website is crucial.
These virtual assistants will enable your support agents to focus on some more important tasks and larger issues, while they provide the visitors of your website with everything they need to know about your products and services, shipment, delivery, and any other important information.
What is more, the majority of people, especially millennials, prefer chatting with a bot and acquiring the information in a matter of seconds than having to make phone calls or send emails and waiting to get a response.
To conclude, the road to success is always filled with unexpected challenges. But, being aware of them is the first step to overcoming them. The key to staying ahead of these problems is to do the necessary research and arm yourself with patience and motivation, and then everything will fall into place.