Here’s Why You’re Not Generating Your Desired Revenue in Your Business
We live in an interesting time. Today, over four and a half billion people log onto the internet each day, and that number is growing by eight percent every year. You can learn how to do pretty much anything through blogs, websites, podcasts, and videos.
This has created a tremendous opportunity to get exposure for your business and the services and products you offer.
Despite this opportunity and access, too many online businesses don’t generate the kind of revenue they’d like to. There aren’t any hard numbers, but talk to an entrepreneur you know and ask if he or she is making money — the answer will probably be no.
And the reason why most businesses don’t make any money is a simple concept that pre-dates the Internet: What you offer has to be practical, and people have to understand how it is tangible for them.
Practical and Tangible
The world of internet marketing has created a whole new language. It has mixed old-school personal development concepts with new-school marketing. It has created buzz phrases that are so common they feel like something normal.
The problem that too many entrepreneurs miss is that only people in the online space know those phrases and concepts. They don’t translate widely.
It is not uncommon to hear things like “Have a strong mindset,” “Discover your purpose,” “Step into your calling,” or “Live the kind of life you should be living.” While these phrases may sound clear and motivating, they’re not. If you think about it, they’re very confusing.
These terms are too general and way too vague. There is no way you can teach anyone how to accomplish such goals because they have too many different meanings for each person that hears them.
People don’t spend money on products and services they don’t understand. When they visit your website or social media pages, if they don’t understand the practical application taught there, they will not spend money.
If they don’t understand the tangible benefit offered they will get when they buy what you’re selling, they will not spend money.
I don’t know what your online business does, but if I visit your website and can’t understand how it will be practical and tangible for me, I will not be signing up for your email list or buying what you sell.
If you are not sure if what you offer is practical, test it. Have some people you know (or strangers) visit your website. Ask them if they understand the practicality of what you do. If your website is littered with personal development catchphrases, it’s time to make a change.
Who Is Your Target Audience?
If you don’t know how to make what you do practical, ask yourself whom you are trying to help and what you are trying to help them do. I’m not telling you that you need to “niche.” Niche-ing doesn’t work until you get to practicality.
What I am saying is, who are the people you want to help and what do you want to help them do — what problem of theirs will you solve?
Once you can figure this out, you can create practicality in your business. With practicality, you get clarity on what to offer and that leads to significant revenue. You can figure out how to create practical products and services that help that group of people. They will buy those products and services because they can finally see how their lives will be helped.
Don’t get caught up in the internet marketing guru game. Don’t confuse buzz-phrases as good copy. Help people understand what you do and they will spend money with you. You can build a business that makes money and grows.
Get clarity and avoid being the next “hot-for-a-minute” internet marketing hotshot. Use-old school tried-and-tested business principles in your business and your chances for success will soar.
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Photo Credit: @medienstuermer on Unsplash