4 Myths of Growing Your Business on the Internet

The internet is an amazing resource that offers an endless supply of information and products that enrich our lives.

As of January 2023, there were 5.16 billion of us are using the internet, which is 64.4% of the world’s population.

So, it’s no wonder that many of us are growing our businesses on the internet.

If you want to grow your business, community, or following on the internet there are a few myths it is best to be aware of…

In this article I will explain the 4 myths of growing your business on the internet and what you can do to avoid them.

Myth #1: “Build it and they will come”.

This myth is one of the most pervasive and misleading beliefs when it comes to growing a business on the internet. Many entrepreneurs assume that creating a website, social media profile, or group is enough to attract customers. However, the reality is that you need to actively create your online presence.

According to recent data, 91% of businesses are investing in content marketing to attract and retain customers. In addition to content marketing, there are many other effective ways to promote your online presence, including social media marketing, networking, community building, and search engine optimization (SEO).

Comment below what are some other effective strategies that entrepreneurs can use to actively build and promote their online presence and attract more clients?

5 steps you can take to ensure you don’t get caught out by this myth

1. Develop a comprehensive content marketing strategy that focuses on your target audience and their needs.
2. Create and share high-quality content that showcases your expertise and offers value to your audience.
3. Utilize social media platforms to connect with your audience, build relationships, and promote your content.
4. Implement SEO tactics to improve your search engine ranking and increase visibility to potential customers.
5. Build and engage with an online community by participating in industry forums and groups, responding to comments and messages, and fostering a positive online reputation.

Myth #2: “Anyone can do it”.

While it’s true that the internet has made it easier to start a business, growing a successful online business requires specific skills and knowledge. These skills include digital marketing, communication, productivity, potentially design, web, e-commerce, and more.

According to a recent survey, 70% of small business owners feel that digital marketing is more complex than it was five years ago. As a result, it’s important to invest time and resources in developing these skills or hiring experts to help you.

What would you say are the specific skills and knowledge an entrepreneur needs to acquire to achieve grow their business online? And how would you recommend they go about developing those skills?

5 steps you can take to ensure you don’t get caught out by this myth

1. Identify the specific skills and knowledge required for growing a successful online business, such as digital marketing, communication, and productivity.
2. Assess your own strengths and weaknesses in these areas to determine which skills you need to develop further.
3. Create a plan for developing these skills, such as taking online courses, attending workshops or conferences, or hiring a mentor or coach.
4. Implement what you learn and practice regularly to build your expertise and confidence.
5. Continuously monitor and adapt your strategies based on your results and feedback from your audience and customers.

Myth #3: “Going viral is the key to success”.

The hype around viral content has made many entrepreneurs believe that going viral is the key to success. However, going viral is not a sustainable or reliable way to grow your business. Instead, you need a well thought-out and executed content marketing strategy that focuses on building long-term relationships with clients.

According to recent research, businesses that prioritize customer experience generate 60% higher profits than their competitors. This highlights the importance of focusing on building long-term relationships with your clients rather than chasing short-term viral success.

Have you ever “gone viral”? Did it help growing your business online? What has been your experience with this myth, and have you shifted your focus towards building long-term relationships with clients instead?

5 steps you can take to avoid this myth

1. Get to know your audience: Research and understand your target audience’s needs and preferences. This will help you create content that resonates with them.
2. Provide value: Offer helpful and informative content that solves your audience’s problems or answers their questions. This will position you as an authority in your industry and build trust with your audience.
3. Create a variety of content: Mix up your content format to keep your audience engaged. This can include blog posts, videos, infographics, and social media posts.
4. Be consistent: Consistently produce and publish high-quality content to keep your audience engaged and interested.
5. Encourage interaction: Engage with your audience by encouraging comments, responding to questions, and fostering a community around your content. This will help you build a loyal following and strengthen your relationship with your clients.

Myth #4: “Social media is all you need”

While social media is an essential part of any marketing strategy, it’s not a standalone solution. With over 2 billion active websites online, it’s important to diversify your marketing tactics to stand out from the competition and attract potential customers.

According to recent data, email marketing has an average ROI of $42 for every $1 spent. This demonstrates the importance of incorporating email marketing into your marketing strategy along with social media, SEO, content marketing, and other tactics.

Are you only on social media? How has it been? What has been your most effective tactic? Have you grown a community, profile, or page?

4 steps you can take to ensure you don’t get caught out by this myth

1. Build a website. A website is the only way you will ever truly own your expertise. If you want to own your legacy. You need a website.
2. Learn or employ someone to do Search Engine Optimization (SEO) to improve your website’s visibility in search results and drive organic traffic.
3. Learn about content marketing, such as blogging and creating valuable resources, to establish your brand as a thought leader in your industry.
4. Start Email marketing to communicate directly with potential and existing customers and build long-term relationships. Share your content from your content marketing in your email to get more engagement.
5. Influencer marketing to form mutually beneficial relationships which offer you visibility in front of a larger often more engaged social media following.

In conclusion, growing your business on the internet can be a rewarding and lucrative experience. So, let’s approach it internet with a positive and strategic mindset. By understanding and debunking these myths, we can better position ourselves for success and make the most of the incredible opportunities that the online world has to offer!

I’d love to know you thoughts below.

Thanks for reading.