Why do 90% of online stores fail?

Just because you have a website doesn’t mean you have a business - what you have is a glorified business card. Stores fail because people don’t solve the marketing problem. You don’t have a business until you have a marketing engine. A marketing engine is not a single tactic; it’s a perpetual system that generates leads in a funnel. You need a consistent flow of new people going in at the top so that some percentage can convert to sales at the bottom. Website companies make it seem easy to start a business, but having a website and paying a subscription doesn’t create revenue. You have to solve the money problem through actual, consistent marketing effort.

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Asked by general teaching point · Answered by Nick Friend · art-marketing-podcast · 2021-07-22