Why Do More Than 95% Of Marketers Fail?

[kimi]

Hi Guys,

I thought I would prop this question out there for some feedback. It seems only a handful of people who venture online actually make money doing it. Arguably there is a lot of information out there, and one can get unfocused (I had that problem in my first years online). But I feel there is a deeper underlying reason for such a high failure rate.

Any clues?

Regards,

Kimi

[jambag]

Is it maybe because....


Only 5% are willing to put the effort in?

[kimi]

You could be right about that, but I am sure there is more to it than that. I am sure there is no 'one' answer, so my question is probably poorly worded. Nonetheless I am sure that some sort of key indicator of failure would go a long way in helping some of those 95%

[Lynn Terry]

The question is general, and I'm not sure if the statistic is correct. 98% of all statistics are made up on the spot . Seriously though, it would be hard to get an accurate statistic when it comes to Internet Marketers (including work at home moms).

That said, I do get what you're asking. I would venture to guess that some of the primary reasons include:

- Lack of skills/experience/knowledge (ie get lost & give up)
- Lack of follow-through (impatient, procrastinator)
- Lack of real desire to make it work

It would be more helpful to look at the top percentile and figure out why they succeed. Look at how long they have been devoted to the venture. What they have invested (time/money-wise). What they do to stand apart from the majority, etc.

[DebGallardo]

At the Tuesday Webinar we touched on a topic that I think is relevant here. So much of our so-called success and failure online is related to our personal baggage, our "demons" if you will, and above all, our mindset.

Until at least our mindset is healthy, for the most part positive, and focused on building a business - as opposed to just making money - our success will be limited. I knew when I started getting serious about an online business that *I* was my biggest problem. I still am.

But *I* am getting more focused. And that same *I* has taken more action in the past year than in the previous 2 1/2 years. Buying and downloading IM materials isn't taking action. It's often a sickness... I should know. And even reading ebooks isn't taking action, although you're ahead of a lot of people if you actually open the products you purchase.

I think my biggest aha moment was hearing someone quote Tony Robbins: "Nothing happens until you take action."

I could hope and wish all I wanted to have an online business, but until *I* took action, it just wasn't going to happen. I'm still struggling with this one. Part of it is personality, not liking to take risks, getting stuck, etc.

But you know what? I'm a lot farther along than I was 2 1/2 years ago. Even than one year ago. In fact, I've been told that I am "really close" to getting it all together.

So if the keys to online success are NOT mindset and taking action, I don't know what are.

Just my opinion.

Deb

[ace5548]

Hi Kimi,

Unfortunately, statistics can be skewed by many factors and people can run various programs and come up with the statistical numbers they want.

That being said, one of the biggest reasons people fail with internet marketing is fear of failure.

I concur with the statements above wholeheartedly.

A person can become fuzzy headed and lost trying to read all the information out t there and really have an information overload.

One of the things a person should really do is pick an area they want to focus in and the model they would like to use, FOCUS and TAKE ACTION until they have exhausted their idea or no money is going to be produced by what they have done.

A person should complete only one project at a time. That way they will not become lost and mix too many ideas with other ideas.

Another reason there is a lot of failures on the internet marketing scene is people try to start up a business without a business plan. They have no idea where they are going at any given time; all they know is that they want to make money.

These are just some ideas why people fail online. Others may contribute to this thread and provide more.

Welcome and ask a lot of questions--you will get answers.

[BOAI]

Is it maybe because....


Only 5% are willing to put the effort in?

I'm not sure about the numbers, but in my experience most people give up (and this applies to most businesses) too soon. You could say that's a lack of effort or perhaps it's unrealistic expectations about how quickly they'll be profitable.

Regards, John

[Osobase]

I agree with many who have shared their views here. So I'm not going to repeat what has been said.

I would, however, like to add one reason I failed for two years. Apart from some of the reasons already stated, I failed when starting out because the few times I took action (they really were few), the actions were incomplete. I purchased some amazing ebooks then. But instead of taken complete actions, I only partially applied what I read and expected miracles. I would miss some very important steps, and then my actions will not connect. It never occurred to me then to go back and connect the missing links. I would just sit there staring at the computer screen, checking my email box and my Clickbank account a million times expecting some miracles to happen.

The miracles only happened when I was READY to work and take actions, complete and COHERENT actions...

[jambag]

Perhaps I was a bit glib in my first comment, but I think the other replies are VERY similar only more diplomatic.

I have been "self emloyed" for 22 years now and online since 1993 (it was hard to sell stuff on line then:o)) and I am still learning how to motivate myself each morning!

I have also realised during that time that words such as success (and failure) are subjective words - If a stay at home mom wants to make $50.00 a week pocket money and manages to do so within a month, then 5 years later she is still making $50.00 a week, is she a success or failure?

If a man is absolutely determined to make $250,000 per year and only makes $200,000 is that a successful man or a failure?

I believe that hard work will bring just rewards and laziness will cause most to fail.

It's always worked for me!

[KansasDragon]

As my beautiful wife keeps explaining to me..

"Barry, you know how to do it, you know so much, why don't you do it?"

That's the real issue with most marketing failures, not really following through, not testing, not revising, and not letting the frustrations of not selling something "today", color the efforts of the rest of the week, month, and year. Letting those little failures keep you from posting that next Ebay item, the next blog entry, or making the next contact..

With my wife's gentle slaps in the face.. I've moved farther this year in all my personal goals, by staying focused, and following through, instead of just staring at the computer screen.

Ok, honey.. I'll quit typing in this post, and put that next item on Ebay.. YES, right now.... Of course, I'll get that blog entry done tonight.. OH? I promised to get that video done today, too?? Ok, Ok, ok.. OUCH!!!

[Michelle Waters]

These are the top things that I have seen that have kept my clients from succeeding:

1. Lack Of Action. I've talked to people who wanted to sell products online, read about selling products online and bought books about selling products online -- but never actually DID it.

2. Impatience. Too many times, a client will setup an online store, add her products, tell a few friends about it, put her link in her sig line, buy an ad or two -- and six months later when she's not making $2,000 a month, she gives up, saying that internet marketing doesn't work.

3. Life. This ie especially true in the work at home mom world. The client gets busy with kids and just simply doesn't have time to devote to her business that is needed.

4. Lack Of Planning. If you fail to plan, you plan to fail. So many people start a business on a whim. They come up with an idea on Monday and by Friday, they've setup a free website, downloaded a free template and slapped in a few Paypal buttons. When droves of traffic don't arrive by next Tuesday, they are on to the next thing because obviously, selling products online doesn't work.

5. Negative attitude. "I'll just use a free hosting account, in case this doesn't work out." "I don't want to spend more than $100 on a site design, because this is just a small business and I don't want to waste money." Too often people in my target market view necessary business expenditures as a waste of money, instead of as an investment.

Those are the top five obstacles to success that I see in my area of online marketing.

[Lynn Terry]

Terrific post, Michelle! I'd love to reprint your 5 points on ClickNewz.com, with link credit to you of course. Do you mind?

[Michelle Waters]

Hi Lynn!

I'd be honored if you reprinted my 5 points. If you do, would you mind linking to MichelleWatersOnline.com?

Thank you very much!

Michelle

[Michelle Waters]

Mind if I add another point?

6. Getting Bogged Down In The Details. I have had a client who was upset because she thought the content area of her site needed to be moved ONE PIXEL to the left and she'd already used her two contracted revisions. I'm sorry -- but one pixel is not going to keep people from buying your product.

Finding the perfect shade of purple that looks the same on every monitor in the world is not going to sell your products.

People often fail to be picky about the stuff that matters -- like the content -- and get bogged down in the details of stuff that amounts to a hill of beans. LOL!

[KansasDragon]

You mean it doesn't have to be PERFECT to sell?

OMG, No wonder all of those projects are still waiting to be uploaded..