The Quick Guide to Growing Your Online Business the Right Way, Part 1

At the heart of it, your online business is simple…

You drive multiple streams of highly-targeted traffic to your website, where you provide some type of offer (preferably to a squeeze page, with an offer for a free report or other valuable giveaway in return for their email address), and then you continue to follow up with them until you convert them to a sale of your product or service.

In short, the core of your online business comes down to two things: traffic and conversions.

If you can get your traffic and conversions right, you win. So naturally, that means the key to growing your online business is to scale your traffic, improve your conversions, or both.

Today, we’re going to talk about traffic… next time, we’ll dive into conversions.

Traffic is simply any activity that gets people to come into your world – whether it’s to your landing page, your website, or even a webinar or teleseminar.

There are four primary types of traffic for the beginning online business to consider:

  • First, there’s natural traffic (also known as organic)… this is traffic coming in from search engines, from links on websites or web forums, or from people finding their way to your website through word-of-mouth or other sources. In short, we’re mainly talking about Google here.
  • Second, there’s pay-per-click (PPC) and other advertising-based traffic… like Google AdWords and Facebook. This is where you pay money for ads. It could be pay-per-click ads, it could be Google Adwords, it could be ads you run in other ezines.
  • Third, there’s traffic from joint ventures and affiliates… this is where people send you traffic because they’ll get a part of the sale. So you’re tapping into other people’s lists and other people’s traffic… this is great, because it can be very quick and very powerful with the right partners.
  • Finally, there’s traffic from social media… social networking is really sweet for the beginner, because it’s an easy way to get started. You can drive traffic from the social networks, you can build a list from the social networks… it’s a really quick way to get started.

The characteristics of each type of traffic vary greatly by market or niche.

For example, we teach about how to do product launches with Product Launch Formula. Frankly, there’s not a lot of people going online and typing “how to do an online product launch” into the search engines. So there’s not much organic or PPC traffic in our market.

However, there are plenty of other business owners in our market who’ve already spent the time and energy to build up a large list of our ideal prospects and are highly trained on how to promote things as an affiliate.

So that’s where the bulk of opportunity lies in our market, because there are all these affiliates out there who’ve built up these lists over a number of years.

Two Traps for the Newbie Online Business Builder

When you’re just getting started with building a business online, it’s important to be mindful of the trap of building the foundation for your new online business on just one stream of traffic.

It’s natural to go after one primary source of traffic in the beginning, and to build your business around that one source. However, you’ll eventually want to branch out to as many other sources of traffic as you profitably can.

Think of your online business as a stool, with each source of traffic to your business being one leg. As long as you continue to rely on one source of traffic, your business will be shaky at best – and will always be in danger of completely collapsing at worst – if you should lose that primary source.

So no matter what you’re doing in terms of traffic, more sources are always better. You should always be trying to develop additional sources.

Also, you needn’t be concerned with getting a lot of traffic right away. You don’t need a huge amount of leads to launch your new business into positive territory. For most people, you can get started with social media and build a relatively small, tight-knit list and grow from there.

Once you’ve got the targeted traffic coming in – and you’ve begun to build a list by giving away a high-value freebie in exchange for email addresses – then, it’s all about building a relationship with your list and converting the prospects on that list into sales.

And we’ll talk about that next time…

The Jeff Walker Team

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