2015 has been a year that has brought a lot of vital changes to the forex industry, making it harder for forex companies to attract customers. From now on, marketing managers at the foreign exchange brokerage firms must come up with some more creative ways to attract traders and to retain them not to leave to another bargaining broker. In this article we highlight 6 forex marketing campaign ideas a broker can use to attract traders in 2015.
1. BUILD TRUST
Since the Swiss Franc turmoil, traders are seeking for more RELIABLE and TRUSTWORTY solutions when applying for an account with a forex broker. Since January, many brokers have seen a significant drop in conversions of their online ad spent, therefore starting to highlight how "secure" is their platform, funds, regulation and execution. Below are some good examples of search engine marketing (SEM) campaigns powered by FxPro and IC Markets where they highlight the TRUST factor of opening a trading account with their brokerage.
Another good example is to showcase the negatve balance protection of client funds, as this is one of the major concerns of many traders since FXCM, Alpari UK and other broker news. In the banner below, FxPro is simply stating the regulatory condition (that many brokers like yours cover) in an advertisiment display on Forex Media sites.
2. GIVE SOMETHING BACK
As many professional traders focus on volume, one of the ways to attract them is by offering something back, such as a rebate, cashback, % of the spread or other (you decide), which would eventually simply mean sharing a part of the profit your broker would be getting from the executed trades. This is a rather simple setup that can be executed either by empowering advertsiing, sales and backoffice, or even getting together with your IT department to display the information on rebates, trades and deposits in an interactive infograph of the traders' area. The only thing to consider is to correctly calculate the "caps", partner rebates, exclsuions and possible arbitrage scenarios for your broker.
3. HIGHLIGHT THE COMPETITIVE EDGE
Many brokers provide same trading solutions, on the same Meta Trader platform, to the same traders, at the same time. But how can you differentiate yourself from the rest? Some brokers do it by stating how "close to zero" are their spreads, commissions, and transation fees. Below is a good example from Exness on an Interstitial (popup) banner.
On the other side, this technique is not new and has been presented by 99% of brokers out there since the beginning of Forex. So if you decide to just follow the display of your broker features, be very careful with what you decide to highlight as many of your competitors offer the same and trader might just think "I have the exact same thing right now, so why would I switch exactly?"
4. ENGAGE IN DISCUSSIONS
Have you heard the news about how everyone has been blaming IronFX for funds transactions over industry forums and discussion groups? (we cannot confirm the situation) The fact remains: most of the brokers could be in the very similar situation. To avoid having such troubles, your company must ensure that you have a dedicated person to track, monitor, analyze and respond to every brand mention out there, positive AND negative. This is not just a prevention tactic, but also a great way
- to empower your market analyst team to engage with existing clients and prospects in discussions,
- to let your sales provide more information to people interested in opening an account with your brokerage firm (to everyone, not just one person over the phone)
- your marketing team to reach onto more traders with creative campaigns
- your customer support to cover more topics being questionned by active traders.
5. POSITION YOURSELF AS AN EXPERT
As mentioned in the point above, getting your Market Analyst closer to customer interaction can bring good value to lead conversions and customer retention in general. Here are some things to consider:
- Get your Chief Market Analyst to speak about the vital market news and analysis on TV channels such as Bloomberg or more regional coverage, on 1prime.ru (as an example in Russia)
- Cover market commentary on some leading financial websites and newspapers such as atozforex.com (Global), banki.ua (Ukraine) and forexqq.com (China)
- Stream Live WebTV on your website or blog
- Run ongoing webinars on market analysis
- Enable Live Chat with the Market Analyst on your website or Blog
- Schedule weekly Q&A's with the analyst on your social media channels
- or even run contests for traders to win a free consultation
CONTACT 7MARKETZ TO SCHEDULE A MEETING WITH THE LEADING MARKET ANALYSTS OF 15 YEARS OF FOREX EXPERIENCE
6. GIVE BONUS
Giving bonuses is no longer a good option for attracting serious clients, unless you want to get some traders who are hungrily seeking hedging opportunities and arbitrage trading. You should be especially careful when targeting Asian countries with attractive bonus offers like the below.
Now it’s up to you to decide what tactics you wish to choose to drive lead generation, retention and branding campaigns for your forex brokerage. If you have experience you'd like to share with the rest of the readers, feel free to let us know in the comments section below!