Although these are all valid, there is one way I like the best.
1. Leads
2. Traffic
3. Conversions
Having this in mind, you get to provide more value to your end user. Because once you have these all targeted you have a place to now build a relationship with these targeted markets.
When you have this then you can always consistently be providing value to them and thus helping you help them have more success online.
Focus on these 3 and work on them in a consistent basis and you will have success. Making money online the right way doesn't have to be scary or difficult.
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