Advertising, PR, Media buying, Social Media and Branding, these are the usual services provided by the media agencies nowadays. But what is the actual difference between a media company and a forex marketing agency? As 7marketz team is getting a lot of these questions from businesses, we’ll cover the main highlights in today’s blog post.
Some of the media agencies have a specific industry focus, but most of them really accept any business sector that comes in for a quote. Forex marketing agency, by definition, has a dedicated team that specializes in financial exchange, able to offer the services that no media agency can provide. These can include forex media buying, forex online reputation management, market analysis articles and even custom webinars for the brokerage firms. Even though, these services may sound familiar with the media company, a forex agency effectively monitors and optimizes the campaign results to get the lowest CPL and CPA for the investment firms, having previous experience with the industry metrics.
Experienced team is a core of success in any business. In this case, your agency must ensure that as account manager so the production team has strong background in the industry and are able to provide you with the solutions that meet your goals and (over) delivered on KPIs. Discover the team behind AtoZ Forex Project Here are a few major roles that a forex agency should be able to cover:
- FX Sales background
- PPC for “forex” related keywords at the average CPL of $40 for European traders
- Media buying for financial sites at the average CPL of below $80
- Market Analysis covering technical and fundamental outlook
- Trader Training and Education for tutorials, webinars and seminars
- Web design and development
As for media buying, so for advertising and email marketing, your marketing partner has to have strong network within the industry. This will help you not simply get a “better rate”, but also be able to get efficient on delivering marketing campaigns and then being able to effectively optimize the results. Traditional media companies will often have their network limited to generic business magazines, publishing houses and TV channels, often missing out on the niche where Forex is actively taking part. Your marketing partner should have connection in the following:
- Financial websites with proven results on advertising, directory listing and guest posts (e.g. investing.com, forexfactory.com, atozforex.com)
- TV channels such as Bloomberg, Reuters and CNBC
- Service providers for technology, payments and corporate services
Before signing up for a deal, ensure your agency has got positive case studies with a few companies from your industry. This will assure higher success rate for your campaign in the future. Below are some of the metrics to ask for:
|Metrics||Open rate CTR Impressions||Traffic Impressions CTR||Registrations Participants Conversion||Traffic Impressions Engagement rate|
|Other||Source Best practices Demographics||Targeting eCPL||Topics Languages eCPL||Topics Languages Backlinks|
If you get to see distinct description and tracking of the campaign results, you can consider that as a first determination for success. However, be careful not to get into the whole “this will get your brand known” answer, as a responsible marketing agency would always be able to back up a statement by the actual numbers and KPIs.
How is your marketing ROI going to be measured? This is one of the first things you should be asking your agency partner before launching any campaign. Make sure you’ve got the following clarified:
A) S.M.A.R.T. OBJECTIVES
Set specific, measurable, attainable, timely goals; e.g: Reach $25 CPL for Google-SEM campaign targeting the Nordics region by the end of Q3 2015.
Define your key performance indicators; e.g: CPL, CPA, ROI, Conversion ratio, Engagement rate, Impressions, Website referrals.
Clarify what tools you are going to use in order to implement the campaign, track and monitor the performance, measure results and automate the workflows; e.g: Google AdWords integration with Salesforce CRM and HubSpot marketing automation.
Set up clear deadlines for each of the activities in the planning, testing, launching, monitoring and closing stages; e.g: Copy approval by 02/07/15 > Campaign setup by 05/07/15 > Campaign test by 15/07/15. If your agency fails to deliver any of the above, they are most likely not qualified to deal with a forex campaign on a big scale.
Now, as you know the difference between a traditional media company and a forex marketing agency, you can browse through the offers 7marketz can provide to your brokerage form.