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The issue is which is more 'important', traffic or content.. That in itself is a vague question. Lets say you replace the word 'important' with the word 'valuable', since the more important something is the more valuable it is, generally speaking. So, which is more 'valuable', traffic or content?
Traffic is more 'valuable', and hence more 'important', because it is harder and usually more expensive to obtain than content. We easily invest 10 times more, in terms of time, effort and money, in traffic than we do in content.
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