Most people overcomplicate getting traffic to their business.
There is a “secret” to getting a lot more traffic to your site. It follows a similar process to how professional sports teams win championships.
Sitting by a pool in Las Vegas, sportswriter Bill Simmons was NBA Hall of Famer & two-time champion Isiah Thomas….
….and Isiah revealed the “secret of basketball” to Bill.
The craziest part?
The secret is that it has nothing to do with basketball.
It has to do with 5 guys working together unselfishly. It has to do with relentless focus on the fundamentals.
It’s about a system that is greater than the sum of its parts.
The secret of traffic is similar to the secret of basketball.
The secret to getting tons of traffic has nothing to do with traffic.
The Secret to More Traffic (AKA “The World’s Most Consistent Salesman”)
Have you ever read The Ultimate Sales Machine by Chet Holmes or The E Myth by Michael Gerber?
Both books stress systems, machines, and processes for business. They show you how sales can be a precise process. Your salesman will take prospects through the exact same steps every time.
(Note:If you’re doing personalization in your marketing, then your website will show different messages to visitors based on how they came to the site & the device they’re using to visit you.
For the sake of simplicity, we’ll say your salesman (AKA your website) will always show every prospect (AKA site visitor) the same thing.
Want higher conversion rates on your website? One of my best prescriptions is to start adding more personalization to your website.
Suppose you had that kind of salesman: the most consistent salesman in the world. He says, does, & performs the exact same presentation every time.
This salesman closes 2 out of 100 leads that he speaks with. After looking at his precise, consistent process – – you believe he could do better.
With a few tweaks and changes, he could close 4 out of 100.
What makes more sense:
1) Do nothing. Allow your consistent salesman to keep closing 2 leads out of 100.
2) Install the change(s). And then commit to regularly working to help equip your salesman to be more effective. That means dedicating at least 35% of your paid traffic budget towards conversion optimization. It will pay for itself very quickly & powerfully.
Oh, and your salesman loves company so be sure you continue sending him more prospects to get to meet & serve.
Here’s the thing. You already have the most consistent salesman in the world: Your website.
Visitors (aka leads) see the exact same things. They follow the same conversion paths/funnels every time they visit.
Look at your data.
What is your salesman’s closing rate (aka conversion rate)?
Has it been pretty consistent over time?
(Not including before/after significant site changes or during seasonal holiday/sales boosts)
So what does this have to do with the secret to traffic? Everything.
You Don’t Have a Traffic Problem, You Have a Conversion & Economics Problem
Let’s say you’ve got a product or service that you sell for $100. And that is all your business produces. Once someone buys it once, that is everything they’re able to buy from you.
Your economics is thus stuck at $100 per buyer.
Let’s say you can buy traffic for $1 per visitor to your site. You would need 1 out of 100 people to buy your $100 product or service to break even.
A 1% conversion rate is the tipping point of profitability (on ad spend at least).
What happens when many people create a new ad campaign, only 1 out of every 200 people buy? With a 0.50% conversion rate, we’d lose money with each click we buy.
Which means there are two levers we can pull to become profitable:
1) Improve the conversion rate to at least 1%
2) Create new, valuable products & services to now earn $200 per buyer
Traffic is not your problem here.
Getting more Traffic will never improve the Conversion or the Economics sides of your equation.
Traffic is a Commodity. Conversion and Economics are Assets
Even if you get 10,000 visitors today, you have to start anew from zero tomorrow. Same if you get 20,000,000 visitors today.
When a visitor comes, one of two things will happen: either he will convert or he won’t convert. If he converts, great. If not, then the visitor adds to your analytics count for the day but doesn’t produce any tangible or lasting value after the visit is “consumed”.
And that last sentence sounds a lot like the definition of a commodity.
If you’re #1 in organic Google results for your keywords, then that is an asset. A powerful asset that reliably brings you traffic every day.
Don’t get complacent though….
As we’ll discuss later in the book, it’s an asset that can easily be taken away from you. Especially if you have a competitor that out-converts you.
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Conversion, on the other hand, is an asset by definition.
If your site converts 1% of visitors today, it’ll likely convert 1% of visitors tomorrow too. That is assuming you don’t make any changes to your site and allowing for stat variance.
Your site will convert at 1% if you have 1,000 visitors. It will convert at 1% if you have 10,000 visitors. And it will convert at 1% if you have 100,000 visitors.
The same is true with economics.
If you earn $100 per buyer today, you’ll earn $100 per buyer tomorrow. That is ssuming you don’t make any changes to your offers and allowing for stat variance.
An asset works dutifully to earn money day in and day out.
Conversion and Economics are your assets. As you improve them, your “consistent salesman” learns how to better turn visitors into customers.
You do need to have some traffic to be able to validate your business & run A/B tests for growth in Conversion + Economics.
For businesses struggling with traffic generation, I often recommend starting with paid traffic. That is because you can turn the traffic on & off like a faucet.
You can highly target your visitors. And you can get useful, powerful data for your business and about the people you serve.
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You have finished reading an excerpt from the book ‘Profit Hacking’.