Online marketing is one of the most valuable tools for today’s entrepreneurs to utilize. Knowing how to use this to your advantage can make or break your entire business.
7 ways to drive traffic
- Search engines
- Referring traffic and press
- Social media (Facebook, Twitter, LinkedIn, Pinterest)
- Partnerships and deals
- Refreshing content
- Viral loop
- Solve a compelling need
Paid sources of traffic
- Google Adwords
- Buy traffic on Facebook, Twitter and LinkedIn (.50 cents to $1.50 per view)
Variables when buying traffic
- Cost per click (CPC)
- Conversion rate
- Price of the product
- Cost per acquisition (CPA)
The key strategy is to make sure your CPA is less than the cost of your product or service (or the lifetime value of your product or service). In summation, the three main variables you have to deal with here are:
- What is the price of your product?
- What is the conversion rate when people get to your website?
- And what is the cost per click for driving those users in?
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