These marketing strategies will get new clients to you in 2020 and remain in the forefront for years to come.
The market for forex has seen rapid growth in recent years. With increased competition and new
markets, there’s increasing numbers of regulations and new measures. Although these changes will
increase confidence and transparency in the long term however, they pose a number of obstacles for FX broker in the near term. It is becoming more difficult to market forex products due to declining organic reach and a number of advertising restrictions imposed by the major social media platforms or search engine. This is why it is essential to concentrate your business and marketing strategies on more conventional but solid marketing strategies.
We’ve compiled our five most effective marketing strategies which heavily rely on your existing customers and your word of mouth to gain new customers instead of relying using the third party advertising platform.
- Bonuses and loyalty programs
- Services for managing money
- Social trading systems
- Education in the field of Forex
- Digital marketing for Forex brokers
The principle of these strategies is quite simple and can be described simply such as “listen to your clients – offer a variety of services and a complete range”. In the age of Web 2.0 and rising social media, financial institutions simply need to adapt and personalize their offerings.
Bonus programs and loyalty systems
A loyal customer base is the key to success for any company as they want to learn about new services and products review positive things and give constructive feedback. They also defend your business on public forums. Furthermore, they can be brand advocates in order to attract new customers. For brand promotion, companies can make use of the existing features of the
MetaTrader platform, which awards rewards to traders who are successful and distribution agents.
The most appealing aspect of bonuses is it allows you can come up with your own ideas and create complicated commission and fee strategies that seamlessly integrate with your marketing
campaigns. In spite of ESMA restrictions on the advertising for CFDs as well as binary option, bonus offers may still be utilized in emails sent to existing customers. What kinds of bonuses can be added to your brokerage service? Begin with the agent field that is built-in within the trader’s account in
MetaTrader. Expand the functionality to an endless chain of agents using other plugins. Finally complete it with remunerations based on volume of trades and deposits made.
Money Management Services
PAM MAM, PAM LMAM and a myriad of other abbreviations with similar appearances are basically different strategies for managing money or models. Percent Allocation Management (PAM) method is based on the distribution of profits earned among investors according to their percentage of the portfolio. Multi-Account Management (MAM) method gives money managers the chance to oversee
multiple trading accounts. Trades are copied with a variation based on the overall strategy of trading. The Lot Allocation Management Module (LAMM) permits managers to limit the risks of assigning various quantities of lots to various accounts.
Since managing money requires managers who are experienced traders and investors, as and newcomers to market for forex – increasing your brokerage’s services through money management will help the growth of your business. In the majority of cases successful money managers have a
large number of loyal followers as well as their own channels for promotion to draw new investors.
From the standpoint of a brokerage for forex changing your lead generation programs to draw managers in could be an effective expansion of your marketing plan.
Find out more about money management technology, services and the demand for them on ” Marketing for forex brokers: MT4/MT5 MT4 PAMM and MAM software”.
Social Trading Services
After experiencing a surge in popularity in 2016with the advent of social trading, they are now among the most popular financial products, with an ever-growing audience in emerging markets in forex like India, Thailand, Malaysia and other emerging markets. The idea behind social trading is very straightforward: a seasoned trader shares their strategy with other traders , and is paid an amount for performance or a subscription fee, as is the case with MetaTrader Signals or eToro social trading system.
Social trading communities are often integrated to traditional Forex trading However, it’s in your ability to connect the two audiences and draw in your clients. There are a variety of ways your forex broker could incorporate social trading such as:
- Third-party social trading platform like eToro
- Turn-key solution provided by the forex technology companies like Brokeree Social Trading Solution
- Create your own method
Each implementation differs and will require a more thorough study to determine the suitable method for your business as well as your customers. If you’d like to gain an understanding of how these
social trading can help your brokerage, check out ” Marketing for FX brokerage: Social Trading Software” and schedule an appointment with our support team via email@example.com to learn more about the social trading technologies.
FX Trading Training
Educational material, forecasts and trading signals will be popular since they serve the vast majority of traders, from novices to seasoned sharks of the market. Yet, we often encounter outdated or even boring, information and guides on trading strategies or select the right forex broker, etc. Today, consumers require complex tutorials that answer specific questions. This is a fantastic opportunity to boost your content marketing by limiting the subject matter.
Here are some suggestions to help you plan your strategy for content marketing based around education in the field of forex.
- Online courses and webinars keep providing marketers with an abundance of leads. Create a course lasting 3-5 hours or a few 30-45 minute webinars, and promote them in addition to your main services. Tips! Instagram Live is on the rise at the moment, so you need to pay more attention.
- After the webinar has ended and the offer advertised, invite everyone to join an open/closed learning community on Facebook and then continue your funnel of conversion from there.
Find out more information about webinars here..
- Social Media Education – make educational content or set up an open group for learning about forex to all to create new leads. Separately, create an exclusive group to facilitate conversations between your current customers. Make sure to promote your closed group in the open group , allowing your customers influence prospects.
- You now have email addresses and a Facebook group that has warm leads , and an the active Instagram profile. The rest is about finding the best approach and the best deal to turn those leads to customers. Take a look at the following sections.
Digital Marketing to Forex Brokers
Digital Marketing will assist your brokerage to promote new products and services. This year, however, the financial sector has witnessed numerous bans and strengthened rules which have affected online advertisements and marketing. The major social networks have prohibited cryptocurrency-related advertising, as well as search engine have banned the use of any mention of instruments and trading services. However, there is many ways to incorporate the digital marketing methods.
SEO (Search Engine Optimization) Optimization (SEO)
In the past, people were creating websites for robots and machines to defeat the algorithms for
indexing. These algorithms have become quite advanced, requiring users to consider what a person is doing when they visit the site.
1.) Make use of keywords that your clients actually are likely to.
Choose the most relevant keywords by installing the Keywords Anywhere extension for Chrome and Safari or, if you’re making use of Google Adwords you will be in a position to view Keywords which are what people type on Google while they view your ads. The Search Console is a separate service provided that is provided by Google that lets you determine the keywords for which your websites have been ranked.
2.) Create a clear navigation and try different actions.
3.) Create original content, and then add keywords naturally.
4.) Examine SEO fundamentals like meta-description Rel, Alt tags, and so on. For more details on SEO you can visit the Moz website.
Blogger Marketing and Blogging
Looking for an informative and entertaining article on forex trading could be a challenge because there are many authors with a history of “made the mistake of claiming to have it” without giving you any information. If you’ve had any experience in actual trading, you’ll be aware that the right details haven’t been made available. So, using your authority as a legitimate broker and working with trustworthy bloggers can boost the credibility of your brand, raise brand awareness and draw in new customers.
Messengers and chats
A smaller percentage of people are not browsing the news feeds on social media sites, and they shift to messaging which allow them to receive information, purchase tickets to planes, or reach out to their service provider and receive a prompt advice. Companies that succeed are using the ease of chat communications to gain new customers.
Monitoring social media forums and forums
Forums can be extremely valuable as they provide you with authentic feedback from traders who are active. Regular communication with customers via forums on the internet as well as social media sites will demonstrate that you value your customers and will ultimately increase transparency.
1.) Review the mentions that occur weekly of your brand’s name and reply to each comment regardless of whether it’s positive or negative.
2.) Engage with customers on forums, like Reddit and other related industry social media platforms.
3.) Share your posts and updates with your online community to receive feedback and ideas.
Despite the appearance of difficulties with a small budget for advertising, if you can get paid clicks however, the leads you create using the strategies above and their quality are much better. These leads are not only created through recommendations, but they also undergo an extensive conversion funnel that is based on education and a seamless introduction to trading online.