You need to update the website information, monitor the website traffic, analyze the keywords that are being used to reach your website, where and what time of the day the traffic is good or bad and act on it...
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Well, a dynamic page can be changed every time when it is loaded without making any changes. Dynamic web page can also change the content based on what user do, like clicking on some text or an image.
A dynamic website uses server technologies, like PHP to dynamically build a webpage right when a user visits the page. Hence it is easier to be managed by the client.