The reason behind this is the failure to adapt to new challenges, not understanding consumer demands, improper use of available funding and not investing intelligently in branding and advertising efforts.
Another survey reveals that around 70-80% of people research a company online before they visit the brick-and-mortar store to make a purchase. This means that you will miss around 70-80% of new customers if your business is not found online.
Hence, as a small business owner, it is extremely essential for you to understand the needs of your customers and potential customers so you can give them what they want. You need to invest intelligently in branding and advertising methods to make your business grow from zero to hero. More..