In the last 12 years, I have done lots of research and testing on how to build an online business, that can be successful.
I failed many times, but I learned a lot and I am about to share part of my experience with you. The info will help you save time and money.
When establishing an online business; that is, a website promoting your product or service, there are main elements that have to exist and be calculated to achieve certain outcome.
Also, there is no guaranteed result, but it makes sense to follow the right steps and evaluate your results. Afterwards, you should modify some of the elements and repeat the cycle again.
In my opinion, there are three main elements that affect the success or failure of your online business; they are: your website traffic + conversion rate + economics.
First, you must have traffic to your website. Without traffic, you will not be able to achieve any task. So, you can’t make sales or obtain subscribers. In this case, you will incur loss due to maintaining your online presence.
Second, conversion rate. Once you drive traffic to your website, you will need the traffic to convert. Conversion is the rate at which visitors to your website do what you ask them to. That is, subscribe to you email list, or buy what you offer.
Third, the cost of the online business.
After calculating the cost, traffic, and conversion, you should have an approximate idea whether you are losing or making profit.
If you are losing money, then you must modify what you are doing and analyze your results again.
Also, the success degree varies among business owners. As the title states, I will be discussing the subject of website traffic. The other two elements are totally separate from it.
Here are the types of web traffic: Free traffic and Paid traffic.
Here are some examples of free traffic:
Search Engine Optimization
Guest Blog Posting
Free eBook Giveaway
And the list goes on…
Here are examples of paid traffic
Paid banner ads
Pay Per Click
And the list goes on…
In summary, there are many ways to drive web traffic, but you must not try all at once. You should try one way and determine if it works for you. Also, you should analyze your statistics to determine your profit or loss.