1-You're focusing 100% on marketing to your email list. Email has been the go-to marketing channel for online businesses for ages and has made plenty of people (including SamCart) millions. But times are changing. You've probably noticed, open rates are plummeting — especially on mobile. People check their social accounts and texts far more often than email. And even if you are managing to get a 20% open rate, you're still not reaching 80% of your target market. However you can use SMS Text Messaging and get an open rate for the same marketing message of around 97%. Continuing to hang your entire business on email is a surefire way to choke off profits in 2018
2-You're not maximizing your Customer Life Time Value. If your business model is based on selling a single product to new customers, you might as well pick out a headstone for your operation now. Instead of spending 80% of your digital marketing budget on acquiring new customers (who are only 5% to 20% likely to purchase) you should be doing everything you can to get current customers (who are 60% to 70% more likely to purchase) to buy MORE from you. If you don't, it's your businesses' funeral...
3-You're slacking off on social media. Setting up a Facebook page that just sits there, tweeting every other week or letting your profile languish on LinkedIn, are worse than a waste of time. They're a HUGE lost opportunity that could help sink your business. Social media is major driver for online success and getting more massive by the day. But you've got to be in it to win it. That means posting incredibly relevant content every day and really engaging with your followers by quickly responding to each and every comment and question you get.
4-You're in the dark when it comes to data. Basically it's like driving your business blindfolded. And if you don't know where you're going in terms of conversion rates, customer life time value, orders, profits and refunds, you're in real danger of driving it off a cliff. Getting a solid handle on your analytics on your laptop AND phone is absolutely essential to your businesses' existence.
5-Your site is a mess on mobile. Just a few years ago, when everyone was accessing the web via laptops and iPad, having a mobile-optimized website didn't matter. According to Statista, 39.6% of all retail sales will be made on some kind of mobile device in 2018. By 2021, that number is projected to be 53.9%. If your site isn't optimized to load lightning fast and work great on every size, shape and make of smart phone, even the healthiest online business is destined to dry up and blow away.
Let us know if we can help you better your bottom line in 2018. Platinum Edge Media specializes in Mobile Business Solutions to grow your business quickly and affordably. www.PlatinumEdgeMedia.com