Running a business without a traffic bank simply means that you will always chase after random people before you can acquire a new customer. Therefore, if you would like to build a business that can make money on demand, then you must learn how to build a TRAFFIC BANK. When you are competing with someone that has a traffic bank, you will always be amazed at how their products get sold out with ease even though you don’t see new customers walking in. Before I teach you what a traffic bank is and how to build a couple of them for your business, let me share an experience I had yesterday that kinda portrayed this lesson perfectly.
On 7th August 2023, I visited Akilo, a popular car spare part market in Ikeja to change my spare tire because I was going for a vehicle inspection. While there, a simple-looking man passed the guy that was working for me and greeted us so warmly. After this man passed, the young man that was working for me said:
“Oga, you see that man wey pass, na him get this one storey building you dey see so. That building na warehouse. Up and down, na car spare parts full am. No spare part wey him no get there. His shop at the road isn’t big o but this warehouse has everything. He bought the building there, demolished it to built this warehouse. Na my Oga for this area be that o.”
I looked at the man again from afar and looked at the building again. It was dawn on me that this man understands something most people don’t know and that’s warehousing, product banking, and the art of being underrated. No wonder he’s super successful in his line of business.
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That said, let me return back to the main message. You will connect the dots soon. Like your typical financial institution, a bank is a place where you keep your money until you need it then you can make a withdrawal.
What is A Traffic Bank?
When it comes to a traffic bank, it’s simply a place where you store traffic until there’s a need for you to use it. Unlike your typical financial institution (bank) where your money gets exhausted as you continue to make a withdrawal, in a traffic bank, you can never exhaust it. As a matter of fact, if you maximize a traffic bank very well, it will multiply because the people there will invite their neighbors to come and see what the Lord has done for them.
Examples of Traffic Bank
Would you like to know some cool examples of a traffic bank? Here are some great examples:
An email list of 5,000 subscribers with a 10% open rate puts your message and business in front of 500 potential customers every day. If you show them your wares today and they don’t buy, you can show them again tomorrow, next tomorrow, and forever, until you are tired or they get tired and opt out. And if you are feeding them very well, I guarantee you, they won’t like to leave, except the person has been doomed to fail. Some of the most interesting things about an email list are:
- You can speak to each subscriber one-on-one whereas you sent out the email at the click of the button.
- You can see your open rate and click-through rate.
- You can easily segment your emails to only deliver to people that read a couple of previous emails you sent before.
There are multiple ways to make money from your email list (direct product sales, affiliate marketing promotion or solo advertising which involves promoting someone else’s business via your email list to enable the person to build their own list). How to build an email list and the tools to use should be a lesson for another day. I can recommend some tools for you if you want to do it right away. Let’s proceed.
Telegram Group or Channel
I don’t care the kind of business you are into, you should be using Telegram to build a list of people who are interested in what you do. What can you tell people to make to join your Telegram group? Start tasking your brain to come up with an idea. Right in your Telegram group or channel, you can always make announcements of new arrivals of whatever you sell and you will always have people that will line up to buy it.
While a group will give you access to 200,000 people, a Telegram channel gives you access to an unlimited number of subscribers. For fresh starters, I would advise that you upgrade to the premium version when you’ve grown your audience base to a certain number so that you can explore Telegram stories. Just 10,000 people in your Telegram group will give you instant traffic on demand. Your business needs to have people rushing it.
Only very few bloggers are maximizing this one. The rest don’t even know if something like this exists or not. This is a kind of alert (pop-up) that comes to users’ phones notifying them that there’s a new message that needs to be read. If you have a business website, the best one to use is the web push notification. With this, your users will get notified anytime you publish a new post and they open their web browser to search for something else. Yo
u can also log into the dashboard of your web push notification platform to see an alert to your users. For them to get notified each time you publish a new post, they will need to request to join your web push notification list.
One of the most common web push notification tools you can integrate into your business website is OneSignal Push. It is still free to a large extent. With the icon boldly displayed on your website, visitors can click on it to subscribe. Anytime you add a new product or publish a blog post, they will get notified as well.
I know with just these 3 traffic banks, you will never ask the question of where you will find steady customers again. Even if it means committing the next 30 days to build your traffic bank from zero to 5,000, do it. The reward outweighs whatever investment you can make into it.
Are you ready to start building your own traffic bank? Take action now. And if think this article is helpful, share it to someone you care about their business growth.