Success gets more visible than failure, all humans systematically overestimate your chances of succeeding. This is called the graveyard or survivorship bias.
Likewise more online businesses go under than the ones which truly leverage social media and content marketing to come out on the top.
The main reasons being:
More than 50% of the online business spend less than 2% of their yearly budgets on content creation, strategy creation and expertise partnerships.
In-house content creation is the path of least resistance leading to low or no success. Which is the case with more than 94% of the online businesses.The truth is that online businesses that try to handle everything in-house overextend themselves without focus, expertise, resources and budgets.
The majority of Online businesses use both social media and a website to market themselves as compared to traditional businesses which spend close to 25% of their overall budget. So good content is their only saviour.
Though more than 70% of the online entrepreneurs believe in the power of social media and content marketing. Only a marginal few succeed because Not every entrepreneur is a content creator or a strategist.
Every business owner must know without a shred of doubt who their products and services are made for. You must know their location, their age range, their gender, their behaviors, their pain points so they can segment and reach the right audience for business. More than 85% of the online businesses lack this clarity.
The graveyard is full of failed online businesses and success comes to those who invest in expertise, strategy and rise above the content jungle.
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