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This is from here.
公司大力发展线上与线下相结合，共同为服务商引流销售。
I also have:
具体来说，就是线上选（手）机， 线下体验，或者说是线上引流、线下交易。
引流：依靠吸引力或重力从一个体腔或伤口抽取液体的行为、过程和办法 = drain or drainage (medicine)
Maybe they mean "吸引 顾客 流量" and they just left 2 thirds of the words out??
Or is there another explanation?
线上: online
引: attract guests
流: customer flow
线上引流: attract customer online with various strategy to increase customer flow
It means "to attract traffic".
It's a term of online marketing / e-commerce, highlighted also by the terms "线上 = online" and "线下 = offline".
线上引流、线下交易
attract traffic online, convert offline ("convert" as in customer, or lead, conversion)
Your understanding, as also others pointed out, is essentially correct, but I believe the contraction is from：
吸引流量 (流量 = traffic）
which makes more sense, if you look at it from the point of view of typical Chinese chiasm abbreviations:
（吸）引流（量）
omitting the least semantically relevant character of each word, without having to specify 顾客, even though, yes, "traffic" to an online shop comes from customers.
Compare with English, in the same e-commerce context, where "traffic" alone is a fairly well understood and self-explanatory word.
线上引流: 通过在线上(网络上) 做一些事情, 引入更多的客流.
线上: this is a adjective, not a noun. by the way of online...
引: 吸引, attract
流: 客流,人流. people, customers.
In English , its meaning is: to get more people/users/customers by doing something online. this word is widely and commonly used by the internet companies.
