Whether you own a small business and want to make money selling goods, or whether your want to make money from advertising or affiliate links, the process form making money online is the same.
There are two parts to making money from a website or blog :
1. Traffic
2. Conversion rate
Traffic refers to the number of visitors in a given time period, say a week or month.
"Conversions" are any actions those visitors take that meet your predefined business objectives. An objective is usually related to making money, or something that ultimately leads to revenue - like clicking on an ad, affiliate link, signing up for a newsletter, making a purchase, etc.
The "conversation rate" refers to what percent of website or blog visitors convert.
You can assign an average dollar value to any conversion. In other words, some conversions might be worth 20c, while others might be worth $25. Let's call this average conversion value M for monetization.
The make money equation looks like this :
Money = Traffic x Conversion rate x M
Simple, huh? To make money, all you need to do is:
Find a way to drive traffic, and convert it!
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