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Importance of Referral Traffic

Depends on the referral source. Referrals by existing customers convert better than 30% from what I have seen. A recommendation by a friend is GOLD.

Other referrals SEO, Social Media will vary greatly depending on many factors ...
 
The only recommendation i give is not be linked from bad sources. For example, if you have a online store that accepts credit cards is bad reputation to have links from a carder forum for example.
 
Referral Traffic is a search engine' method of reporting & tracking visitors that comes to your website from external websites.
Importance of Referral Traffic is as follows:-
Improves Brand Exposure
Builds better SEO Backlinks
Creates Opportunities & Leads
Can diverse the audiences to your website, etc.
 
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