Traffic sources for business are all about knowing which one is the best ones to use. There are lots of new channels coming out and the shiny object syndrome comes up. Tune in to the most effective ones.

Background

Davis takes online businesses to 7 figures within a year.

So far - coaching and info-product businesses.

Grandmother

Created a local store.

Lesson: perseverance as a value (overcame Robbery and arson).

Current business

Worked at a startup before became an entrepreneur

Started a side hustle in the living room while working at another company 

Wanted to be able to work anywhere

Now lives/works in Asia or the USA (mostly San Francisco).

6 figure profit first year

7 figure profit second year

Did have one physical product 

 - tried to build a comfortable hiking boot

Got design made by an engineer  

But nobody bought it

Sell 10 pairs to test it’s a viable market

How do you figure where to get traffic from?

There are lots of new channels coming out when you try to find traffic sources for business. 

Manychat was the business channel of choice in 2019. 

Shiny object syndrome comes up.

Instead, Davis works on first principles.

Strategies

Give people the mindset of how to find traffic sources for business. 

There are 2 axes on which to assess a traffic source: 

Axis 1: Relevance to my audience

Eg Reddit, gaming platforms etc. - Reddit passionate community - $800.$1200

And not many competitors.

Davis’s target audience is those who want to be management consultants for example

Axis 2: what is ROI? (Profit÷investment)

That’s related to low competition

Early adoption

Pricing of product - 

what is the customer finds valuable

Example -Selling podia

Toastmasters international - sponsor those guys

How do you find where the audience is?

Literally talk to your customers!

Look at reviews

How did you find out about our product? 

Find out about traffic sources for business. 

Example - ran the public speaking business - 

Toastmasters

But Toastmasters was not good for one-on-one coaching

Usually, salespeople or someone getting funding for business

Eg someone trying to raise money

So probably at tech meetings

Hang out a bit more

A lot is on the Y Combinator hack forum

Where do you hang out

Also, think offline as well as online - for example: 

You can sponsor events or clubs

You could even give away a product for free to a club or organization.

How to identify the right traffic source 

Find out EVERYTHING about your target client:

Where do they hang out? 

Do they go to church? 

You can’t just call people on Amazon. But you can get mailing addresses, so you could write to them (physical postcards for example) 

Example of physical product business

We have a concept of who your audience is, but in reality, things emerge

Davis’s Client was looking out for doing offline marketing. They did an hour of reading reviews.

Identified a group of unexpected buyers on one listing: Probably parents - buying for PTA clubs. They checked the competition - the same picture. 

So now the client is making a list of PTAs.