Formula for online success

[Gwuido65]

This is my formula for online success (note I learned this from Jakob Nielsen!)

Online Success (OS) = Traffic (T) x Conversion (C) x Loyalty (L).

So you should concentrate on

1. Driving as much TARGETED traffic as possible.

2. Making sure that the highest % of the traffic CONVERTS

3. Turning those converted customers in LOYAL customers who continue to buy for months or years.

I think Amazon are great examples of that formula. They obviously get massive amounts of trafffic and I believe a very high conversion rate (10%) with extremley loyal customers. I don't think that I have ever bought a book from any other shop in over 7 years. Now thats loyal!

If you concentrate on doing this then you must succeed.

[daryamconsult_aust]

thanks for the quick tip......I like information that is short and to the point

[Mike Morgan.]

You missed one important component - testing and tracking .

Mike

[wbnetwork]

Originally Posted by Mike Morgan.

You missed one important component - testing and tracking .

Mike

I was just thinking the same thing as I was reading through the post. You need to track everything so you know whats working and whats not. Either use google analytics or tie a tracking code to each url and purchase domains to forward them to.

[Chris Williamson]

Everyone wants more traffic.. a million visitors a month is better than 1000... but it's not that easy to get traffic.. especially with more competition.

Sure you can buy it or learn the shiniest new SEO technique but your best value for time and money when it comes to traffic is

.... building meaningful friendships.

Seriously. Spend more time getting to know more marketers (both in your market and other markets) and you'll have 100x more success.

Then you'll have:

- all the 'jv' partners / affiliates you'll ever want
- dozens of people to tap into for ideas and new split testing results
- an army for new launches..

make some solid friendships.

[Gwuido65]

All great comments....Thanks

[J Elizabeth Dize]

Good message -- Amazon is definitely a good model for how to do things. There is a reason all my money goes to them

This formula is really the basis for everything having to do with making money online

[Stevecyr]

Well...i Liked the tips u gave...
I would juz like to ask you that is there anything more better than these ? or anything in addition to this can be done for our successs ?

[Gwuido65]

Originally Posted by Stevecyr

Well...i Liked the tips u gave...
I would juz like to ask you that is there anything more better than these ? or anything in addition to this can be done for our successs ?

Well although it is a simple formula you need to break each part down.

1. Traffic - How do I drive targeted traffic. That has to be the starting point for all internet marketers. I'm no expert but I believe that SEO and PPC must be some of the best methods for this because you are appealing to people who are specifically looking for a certain something.

2. Conversions - How do I ensure my products converts?

Its a huge topic. But things like is my product priced right? Does it have a percieved value. Does my site look trustworthy. Is my site usable i.e Once I decide to order can I actually do it? Can customers actuall find my product?

3. Loyalty - How do I ensure my customer keep ordering?

Am I catching their data so sell them more? Is it easy to re-order from my site. Can I automate the ordering process...

Then it is a case of continual testing and retesting after that until the whole process is streamlined.

Just my thoughts anyway...