Most people are focused on this first step... getting traffic. True, getting traffic is important, but it's also equally (if not more) important to make sure that the traffic you're getting is relevant, prequalified buyers who are ready to patronize your business. Getting lots of irrelevant traffic can actually hurt your business, by slowing down your sales and marketing crews when they have to deal with a whole bunch of tire-kickers who aren't very motivated to buy from you.
Let's assume you've managed to get a good amount of high quality buyers to reach your web site. Most people think they've finally "arrived", however online marketing is also about converting traffic into actual (profitable) sales that boost your bottom line profits. Once you've got traffic, great! Now, you have to focus on achieving the highest possible conversion ratio, and figuring out how to get more repeat and referral business.
Analyzing and Making Adjustments...
The last part of the process is taking a step back, and analyzing the results. Are certain pages turning off customers? Are the sales you're getting actually profitable? Do you know which of your keywords are yielding high-ROI, and which are wasting your resources? It's important to look at your analytics software regularly to figure out how to tweak your campaigns for better results. Once you're done analyzing, the process goes back to square 1.. Get more traffic! Next, increase conversions, then analyze what happened, and repeat the process!