4 Reasons why Most Online Business Ideas Fail — Circleboom Blog

Digital Marketing

As per the statistics, of all the businesses that started in 2014, only 56% made it to the fifth year. A lot more online businesses get shut along the way because of poor planning, lack of focus, and strategy.

  1. The top reasons why people avoid buying online are: long delivery times and not able to check the product before purchasing.
  2. As estimated by Nasdaq, 95% of purchases will be online by 2040.
  3. 82% people expect immediate response to their queries from online businesses.

No Market Need for the Product:

“It’s not about pop culture, and it’s not about fooling people, and it’s not about convincing people that they want something they don’t. We figure out what we want. And I think we’re pretty good at having the right discipline to think through whether a lot of other people are going to want it, too.”

Not enough Finance to run the Business:

Incompetent Team/ Business Model/ Website:

Failure to Promote the Product:

To end with:

Being careful with the above common online business mistakes can help you create a successful business in the long-run. Learn more about digital marketing with our other articles on small business marketing and online marketing.

Boom your social circle! Circleboom is a “Social Media Management” tool which enables users, brands, and SMBs to grow and strengthen their social network