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And again, this is a whole "specialization" of this. People do it, and nothing else, full time. You may find very good sources of visitors, and they may not work, as your website may not be very good. Then you do landing page optimization, split testing, things like that. Again, very good knowledge of analytics / Google Analytics is needed.
You also need to have access to server logs (something like AW Stats).
I've heard about xxx wbsite / websites people spending around $10k per day for this.
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