Growing a business from the ground up takes a lot of work—nothing worse than putting in the work and not seeing the fruits of your labor. Understanding why your small business is not generating sales means getting to the root of the problem. At times, this can be a very uncomfortable truth to understand. However, to grow your business to the level of success, you desire it’s important to fix those ugly truths.
It’s Not Your Passion
Yes, I said it. You’re running this particular business because it’s trendy or it will bring in money. Too many people are selling classes and courses on launching vending machine businesses, real estate flips, clothing boutiques, or whatever other ideas that lead you to believe you can make a million in a year. Stop launching businesses just because Instagram gurus tell you to. Instead, focus on what you’re genuinely passionate about. I have met countless people who could be making high six figures helping someone run their business, but they want to be the boss—being the boss isn’t everything.
Lack of Product Diversification
I spend a lot of time googling, trying to find small businesses to support. One of the most significant issues I run into is the lack of products they offer. A couple of months back, I landed on a CBD website where they only offered four products. The four products were just different versions of the other with added scents. The problem was no products in stock. Yet, if you go to their social media, they constantly post the product and have no way to pre-order. Have a product in stock. Have more than four items to chose from. Give your audience a variety. Say you have foot soak. You can make five different scents and then three different sizes. In addition to that, you can have a bundle or travel sizes. You are giving your different audience products to shop for based on tiered pricing for your business.
Only Utilizing Free Marketing
All your eggs are in the social media basket of free marketing through Instagram or Facebook. That strategy worked almost five years ago and is dead now. Yesterday, I did a mentorship call, and I explained the importance of meeting your customers where they are. SMS marketing is on the rise, and new tools are being implemented for greater email marketing campaigns. Two weeks ago, Instagram was down for several hours, and not one email or SMS marketing saying “The Gram’ Is Done, But We Aren’t” something quick and clever directing people to your website. Look at all the options for marketing your business, not just the free ones.
No Customer Retention Plan
You want all the customers, but you have no plan in place. It takes on average seven touches to land a sale. However, the ball is dropped once they shop with you once. Customer loyal programs matter. Sending birthday cards with discounts matters. VIP programs matter. Creating a customer retention program that celebrates them for spending their hard-earned money with you over your competitors will be noticed. If you’re a product-based business, look at your top 10-20 customers add them to a VIP group that gets to test out new products you’re launching. They will receive a free product in exchange for reviews and feedback.
Not Asking For The Sale
Posting a product or graphic about your service is not asking for the sale. Too many times, we lack a sales pitch for our audience. We assume that they will buy because they know your business name and do a little engagement on social media. No, it would be best if you said the product is launching its perfect for XYZ person. You should purchase today. Drive the urgency behind it. You’re a salesperson in your business, and you’re constantly asking people for sales.
Dysfunctional Lead Funnel For Business
How do you currently generate leads for your business? How do you manage those leads in your funnel for your business? Most people cannot answer that. Create systems on how people find you, how do you follow up, and how you keep them in the cycle of supporting you. Always be building your funnel and naturing the pipeline of the clients/customers in it.
Website Hard To Navigate
It is 2021; stop making your website pretty and start making them functional. If you notice your dashboard for metrics, it should tell you the bounce rate for your business. Your job is to get them on your site to either 1. Read your blog 2. purchase your product or service, or 3. Enter your lead funnel. We miss the market most of the time, and they exit before they even explore your website. Do a Google Website speed test or enroll your website to be tested by others. The latter will give you data on what your audience is clicking and how long they spend on your website. In addition to that, make sure your call-to-action banners and navigation toolbar work correctly. Fix any broken links on your website too.
Many things could be the underlying reason your small business is not generating sales. However, one of these seven reasons can be the root of the problem, and focusing on creating a solution is your best option. Growing a business is not easy, but it’s essential to take things in stride and learn.