What is The Most Dangerous Word in Business?
One is the most dangerous word in business.
Companies that depend on the number 1 are at extreme risk.
Let me give you an example…
Company A has 1 client that pays them $1 million dollars a year – that client decides to leave – they have $0.
Company B has 1,000 clients paying them $1,000 a year
– they make $1 million a year and if one client decides to leave they still have $999,000.
What situation would you rather be in?
Being dependent on 1 of anything in business is dangerous.
The same is true with traffic to your website.
You don’t want to be dependent on any one source because it could disappear on you tomorrow, and you’re left with nothing.
Here are the most consistently profitable sources of traffic:
-Organic Google Search
-Paid Google Search (Adwords)
All of these are awesome sources of traffic and each one alone can be responsible for driving you tons of new business – but you don’t want to be caught with a reliance on just one.
You want to build multiple streams and have your eggs in multiple baskets instead of just one.
Why Multiple Streams Are Better than One
Now another thing that most people don’t understand is that one stream of traffic effects another and as you add them together you begin to amass a cumulative effect.
Let me give you an example:
Let’s say you test $1,000 on Google Adwords alone and find that it delivers you $2,000 back – a 100% return.
Then let’s say you test $1,000 on Facebook alone and find that it delivers you $2,000 back – another 100% return.
Then let’s say you test both together at the same time $1000 on Adwords and $1,000 on Facebook – your data would suggest that you’d see a return around $4,000 but you actually see a return of $5,000 – this is the power of multiple streams of traffic.
One stream of traffic often compliments another and you see whats called a “cumulative effect” which boosts your return on investment.
This is why multiple streams of traffic is so powerful for your business.
You not only cover your downside by eliminating risk but you also increase your return on investment beyond what you would normally see from one activity done alone.
When I studied 100 successful businesses all of them had multiple streams of traffic and none of them relied on just one.
They used Google Adwords, Organic Google Search, Facebook, Youtube as well as others…
They were not at the mercy of 1 provider when it came to traffic and they took full advantage of the cumulative effect present when using multiple streams.
The point made here is a big one.
Don’t rely on just one source, and take advantage of the cumulative effect of using multiple streams together.
I guarantee you your competitors are not taking advantage of the cumulative effect in digital marketing.
Hell – I bet they don’t even know what that word means…