There are literally hundreds of factors that stand between you and your business success.
Some might argue that you need to focus on just one thing and do it very well, but I believe that those days are over.
You could only focus on creating a great product, but if no one finds out about it, it doesn’t matter!
You could focus on driving quality traffic to your website, but if you don’t have the right content or copy, it doesn’t matter!
You can focus on social media engagement, but if you have a bad product, then no one will buy from you!
If this proves anything, it shows that there are at least several important factors that you need to account for in order for your business to thrive.
I hear all the times business owners say that they were struggling with their businesses for years until they figured out (or tested) something very simple which turned everything the other way around.
Many would interpret that as the magic pill. Everyone goes and tries it to learn after that it didn’t do anything for them!
That business that people thought found the magic pill has been missing a major component and as soon as they identified it, the business thrived.
You could do exceptionally well on social media (getting great engagement rates). In addition, you could have a great product that uniquely solves major problems in your industry, but you could be struggling if you don’t know how to communicate the value of that product OR if you don’t have the right conversion funnel for your prospects.
I don’t mean to scare you off or overwhelm you, but if you’re good at one thing, your competition could be good at 2 or 3.
Just couple of weeks ago, I was about to purchase a plugin for my website (I won’t mention any names to keep everyone happy :)) and I knew the standard/most popular in the industry because everyone I know has been recommending it for years.
However, with this purchase I went the extra mile to learn more about competitor plugins. Doing little research, I was able to find another plugin that is 2 times better than the one everyone is recommending with almost the same price, yet all these years, I have never heard of it before.
You know why?
Because the people behind the most popular plugin did a good job creating a good product and a great job marketing it. Every blogger I know recommends it!
A great company that I think has a great product, does awesome marketing and offers a magnificent customer service is LeadPages. There is a million and one landing page service online and most of them came a long time ago, but LeadPages managed to attract a big customer-base really fast. Again, because they do a great job at almost everything.
To come back to our main point, social media could not be your main problem, neither your blog, but it could be your sales or services page!
How to Figure Out What’s Wrong and Fix It?
Figuring out the problem is not always easy. However, each medium has its own metrics that can determine whether it’s working or not!
Facebook: engagement rate + referral traffic.
Email: open rates + click through rates.
Blog: avg time on page + lead conversion.
Website usability: bounce rate + pages per visit…etc
For example, if you’re getting lots of sales, but also lots of refund requests, then you can safely conclude that it’s either your product that didn’t meet what you promised OR your customer service which didn’t live up to your customer’s standard.
You could also have great engagement on your Facebook page in addition to lots of traffic coming to your website via the platform, but still not make any sales. The problem here might be that you don’t have the right conversion funnels on your website.
In order for you to diagnose where the problem is, you first need to follow your customer journey as well as your marketing and sales funnel to determine where the prospect drops off.
If you see that your leads aren’t converting to customers, then you might not be overcoming their objections properly.
If you see that visitors aren’t converting to leads, then it might be that no one is interested in the lead magnet you’re offering.
Another great way to figure out the problem is to always ask for feedback from your prospects (audience). If you offer them something valuable for free, then they’ll be more than happy to give you honest feedback.
Just couple of hours from writing this article, I received an email from Popup Domination with 3 new free themes. In their blog post, they stated that if a 100 people fill up their survey form in the next 48 hours, everyone will get 3 new free themes.
Guess what the guy (me) who rarely fills surveys did?
I really liked their idea of giving before asking and I spent 20 minutes filling their survey with honest feedback and I’m sure hundreds of other people did the same!
So that being said, I want you to step back for a second and see why your business isn’t doing well as you wish. Is it traffic (quantity or quality), is it your product or service, is it that your email conversion rates aren’t that great OR is it all of these!
Let me know in your comment below!
Image Credit: DaVinciS