5 Reasons Businesses Fail

Why Do Businesses Fail?

Why bad marketing makes companies fail

After working in the world of full-service digital marketing, at KARMA jack, we have gained a particular perspective on why so many new businesses and small businesses do not succeed. To sum it up: bad marketing.

Over the years, we have worked alongside hundreds of business owners who were all hardworking and cared very much about their products and their customers.

With massive amounts of effort and with them deeply caring about their customers, some of these small business owners would be out of business months after we had talked about their need to reach a larger audience with digital marketing. Typically, they would say they really wanted to add more digital marketing and strategy to their business in the next quarter or the end of the year. It just wasn’t a top priority.

What made the difference for companies to do well versus those that struggle or end up closing.

11 Reasons why successful businesses don't fail

  1. They have a crystal clear vision of who their target customer is.
  2. They understand what their customer values and how their product solves a problem for them.
  3. Their marketing and message effectively communicate to their customers, telling them what problem they solve and who it is for.
  4. They communicate their message in their website, their emails, their special offers, and all of their branding.
  5. They know how to build their audience and drive traffic to their website to turn them into loyal customers.
  6. The ones who struggle or fail do so because of one or numerous of the following problems:
  7. They don’t truly understand who their target market is and they thought everyone was their potential customer.
  8. They don’t know why they aren’t gaining more business, they think having a great product or service is enough.
  9. They do not have consistent messaging of the true value of their product or service. Their messaging is all over the place and they just try to push people to buy their products or services.
  10. They spend time and money on so-called advertising campaigns or mass reach-outs but they weren’t measuring results or know exactly how digital marketing works. They do not know how to generate new customers online consistently.
  11. None of the companies have a bad product or service, they genuinely cared about what they were providing. The problem is showcasing the great product or service they have!

5 reasons Why Businesses fail?

  1. They don’t truly understand who their target market is and they thought everyone was their potential customer.
  2. They don’t know why they aren’t gaining more business, they think having a great product or service is enough.
  3. They do not have consistent messaging of the true value of their product or service. Their messaging is all over the place and they just try to push people to buy their products or services.
  4. They spend time and money on so-called advertising campaigns or mass reach-outs but they weren’t measuring results or know exactly how digital marketing works. They do not know how to generate new customers online consistently.
  5. None of the companies have a bad product or service, they genuinely cared about what they were providing. The problem is showcasing the great product or service they have!

We’ve seen worse companies beat better companies even when their product or service is inferior. The secret ingredient to their success is targeted, effective, digital marketing.

Do you relate?

If you want your business to be more successful, let’s have a conversation to see if we are the right fit for each other. Do not let you limiting beliefs hold you back.

Will you be one of the businesses that thrive and take action?

 

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