There are three major components to every online business they are
1. Initial traffic.
2. Recurring traffic
3. Monetization method
Also Read: Best ways to make money online.
1. Initial traffic in my opinion is the hardest component out of the three. It is the master because it’s the one with the most competition seen for any online business to do. You need to be able to get someone’s attention, get them to stop what they’re doing and check out whatever you have in store. Basically you should be able to get views. Now there are two forms of initial traffic there’s paid and then there’s organic. Paid traffic is like the name suggests traffic or views that you have to pay for whether it is buying ads on Google or Facebook or paying an influencer to mention you in their Instagram post or YouTube video. Paid traffic can be effective if you know what you’re doing but it can be very costly and there is always some level of risk involved. For example you might spend a hundred dollars on an ad and only make twenty five dollars back. Now most people who specialize in paid traffic will actually tell you that results like this are to be expected it’s up to you to fine-tune your ad over time and also narrow down the audience that you’re targeting over and over again until it’s finally profitable. So you have to be good at analyzing data.
The other form of initial traffic is organic traffic basically these are the views that you don’t have to pay for, the most effective way of doing this is by producing content on some sort of platform with a large user base and it doesn’t really matter what content or what platform you grow on , it could be websites on Google, videos on YouTube, Photos on Instagram, Facebook , Twitter, LinkedIn. People read it as long as you produce unique content that provides value on a platform that a lot of people use. You will eventually gain organic views now successfully. Pulling this off take significantly more time and energy than simply paying for traffic but it’s a better long-term strategy for any online business because good content will continue to generate you views for years to come for absolutely free for example a lot of YouTube videos that made four years ago still bring in thousands and thousands of views for many Youtubers every single month and because of this they could hypothetically take a three-month break from their business and would still make money while they sleep without spending a dime. That’s the power of focusing on organic initial traffic.
2. Moving on the second component of any successful online business is what’s called recurring traffic. Initial traffic is getting someone to take a look at your content one-time. Recurring traffic on the other hand is getting them to comeback for more times to your site. Now technically you don’t need recurring traffic to run a successful online business but the difference between a business that makes maybe fifty thousand dollars a year and one that makes five hundred thousand dollars a year almost always lies in how they approach recurring traffic. Simply because recurring traffic is more valuable, see we live in a society where everyone’s fighting for your attention so even if you get someone to take a look at your content one time it’s extremely easy for them to forget about you and quickly move on to someone else.
Now on the other hand if you are able to get people to come back over and over again a stronger relationship is formed there is more trustable. Significantly it is easier for you to sell your products and services and people are more likely to buy something from someone that they know and trust it’s just human nature. Now there are numerous forms of recurring traffic, subscribers, followers connect back even automated Facebook Messenger but the hands-down most powerful form of occurring traffic as of right now it’s what’s called an Email Marketing. You’ll notice that most of the online entrepreneurs and businesses will eventually ask you to join their newsletter or mailing list or something along those lines. Reason they do this is because people hold their email inboxes closer to their hearts it’s more personal than a simple follow on Instagram or hitting the subscribe button on YouTube. When you receive an email from someone it feels like they’re talking directly to you, it’s easier to build a relationship and to give you an idea of just how effective email lists are.
Also Read: Best ways to make money online
It’s been said that on average for every person in your email list you should be able to generate $1.00 per month meaning that an email list with about 10,000 people will make you around $10,000 a month if you continue to send out good emails. Buildup relationships. Do you know how much it would cost to make $10,000 on a platform like YouTube using just ad revenue ? Basically only relying on initial traffic well if we assume that you’re getting paid two dollars per thousand views on YouTube which is actually the current average across the entire platform you would have to generate five million views in order to make the same amount of money as your email list. which do you think is easier to do getting 5 million new views every single month or simply maintaining an email list that already has 10,000 people? I’ll tell you right now the email list wins by a landslide because social media platforms like YouTube are constantly changing the algorithm is constantly adjusting so certain months you might be able to get a ton of views but other times you might get ¼ of what you were able to get before. This happens all time to many Youtubers.
3. At last we have monetization methods. Traffic is useless in the long run without some sort of monetization method some way of converting those views into profit. Now there are literally dozens of ways you can go about doing this so today I’m going to tell you about the three most common ways people monetise air traffic. First we have selling your own product or service this is when you send people to your ecommerce store on that page they are convinced to purchase your product or your service and you make money. Next we have selling someone else’s product or services also known as affiliate marketing this is easier to do than selling your own products and services because you don’t have to make manage orders any sort of maintenance. All you have to do is sell someone else’s creation . Selling your traffic also known as paid sponsorships or displaying ads or shout outs this is when you mention a brand or another business and simply tell your audience to check them out. You’re not really selling them too hard on it you’re basically getting paid a flat fee up front to redirect your traffic it’s sort of like selling ad space for commercials on TV .
