Internet marketing is really a simple business. There are only two things any successful web-site needs;
- Traffic, and;
- Conversion.
That is, you need visitors coming to your web-site and a way to turn those visitors into customers.
The more visitors you have coming to your web-site, and the more visitors you can turn into paying customers, the more profitable your web-site will be - it’s that simple really.
So where does your web-site fit?
If your web-site is consistently and profitably turning visitors into buyers, then your problem isn’t conversion - it’s traffic. It’s getting as many visitors to your web-site as possible.
But if your site is getting thousands of visitors, and the occasional sale - your problem isn’t traffic - it’s conversion. You need to look at ways to improve the conversion rate of your web-site.
A lot of clients I deal with mistakenly believe their problem is traffic - when in fact it’s conversion.
They see 1 sale coming through for every 100 visitors - and look for “cheap” ways to get 100’s more visitors, instead of looking for ways to get sales from the 99 visitors who didn’t buy.
But once you improve the conversion rate of your web-site, traffic becomes simple.
That’s because, generally if you have your site’s conversion rate running well, you can just buy the traffic you need.
You can bid for the #1 spot in Adwords on all of your keywords because you’re using your traffic more profitably than any of your competitors, which means you can afford to pay more per lead, and still make more money than any of them. You can afford to invest time and money into Search Engine Optimisation - not just for long tail keywords, but more generic searches. In fact, you might even be able to buy your competitors’ businesses.
That’s why internet marketing is a really simple business… If you realise that there’s only Traffic and Conversion.
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2 responses so far ↓
1 Rebecca // Feb 26, 2008 at 5:16 am
Now, what you need to link to at the bottom of this post is “10 top ways to increase traffic” and “10 top ways to improve conversion rates.”
2 Brent Hodgson // Feb 26, 2008 at 10:27 am
That’s a great idea Rebecca - I should write some articles on those..
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