Why Your Online Business Isn’t Making You Money

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There’s something thrilling about having a small business on the side of your day job; you get to pursue your passion, develop skills that help you in your main job, and you can make a little extra money in your own time. However, when your online business doesn’t generate as much income as you hoped it would, something clearly isn’t going well. You might not become an overnight millionaire, but it’s not difficult to make a decent living from an online business if you go about it the right way. Here are just a few reasons why your online business isn’t making any money, and how you need to correct it.

No one can find your website

Making an eye-catching, engaging website is not easy. Whether you build it yourself or hire someone to design your website for you, you want to have a killer website to draw in readers and potential customers. However, designing the website and producing interesting content is only a fraction of the work; since you’re running a small business, your website is a vital piece of your marketing so the first thing you have to do is make sure it’s easy to find. Effective SEO will drive up web traffic, thus giving you more business. Google suggests using keywords in the URL, making the site navigation easy, and avoiding long URLs as much as possible. Google also uses links and backlinks to determine successful websites; if many reputable sites link back to your blog, it is an indication of good quality.

Your website isn’t monetized

If you’re hoping to sell a product, or services, you might think that a website is merely an online equivalent of a shop or office where you can convince customers that yours is the best product available. In this case, you’re not using your website to its full potential. Once you have enough traffic, or your following has significantly expanded, you can make some passive income by selling ad space on your website, or through affiliate marketing that is relevant to your business. For example, if you’re using your website to promote your services as a gym instructor, then you can also review exercise equipment or gadgets to your followers and include an affiliate link in your review.

You’re not social

Thanks to pages like Facebook, Twitter, and Pinterest, advertising your business has never been more efficient. Once you’ve created a social media page for your company, use it to post articles from your blog, and give your customers brief updates on promotions and new services. You can also connect with any networking contacts and get them to promote your website on their social media sites.

Run promotions

If you’re offering services to your customers, such as coaching sessions, or beauty treatments, then offer limited time discounts, or a free session if they recommend a friend. You can get people interested in your products by limited edition products, or other exclusive offers. The more interest you can generate with discounts, the better your chances of securing loyal customers.

Chatbots

Engaging with your target audience is the foundation of good marketing, and chatbots are now changing the format of these conversations. Recently, you could include contact details in your website, such as an email address, a link to your social media page, or even a phone number. Customer feedback is an essential part of improving your services, and chatbots have made it possible to receive instant feedback from customers, and for them to receive instant responses to their queries.

Attend trade shows

While there are so many ways to connect to people online, it can make a bigger impression if you try to promote your business in person. Trade shows are a great place to do this because it’s a chance to connect directly with your target audience, pitch your business to potential customers, and to get advice from established professionals in your industry. If anyone shows any interest in your services, get their contact details and add them to a mailing list. This way you can keep them updated on your latest developments, and remind them how they could benefit from your services.

You’re not reinvesting

Any good businessperson knows that you need to keep reinvesting in your business to keep it fresh and interesting. Once your business becomes profitable, spend money on new marketing, run promotions for loyal customers, or upgrade your domain site so you can include a mobile version of your website. Always try to improve your services.

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