Education has been a key resource for many brokers for lead generation. Some brokers have taken education to the next level establishing training centers in various countries and some have set themselves “Online Academies” by offering forex webinars on various topics.
HOW EFFECTIVE ARE BROKERS’ TRADING ACADEMIES?
Brokers host webinars on different levels. Some brokers have webinars multiple times a day, some once a week or once a month. As the wise man once said, it is not about the quantity it is about the quality! In Forex business, it is all about the qualified leads and conversion rates.
How many new leads do you generate with your webinars and how many leads convert due to your webinars?
We must admit that the Forex industry has been evolving. These changes not only have an impact on brokers’ operations but also have direct impact on traders’ behavior. How to select a Forex or Binary broker is no longer about spread, commission or regulation. Traders want more than just the feed from brokers, they want to be empowered. What better empowerment than education and what better lead generation than Education?
HERE ARE 5 WAYS YOU SHOULD USE WEBINARS FOR LEAD GENERATION
1. Involve a speaker who knows what he is talking about: Often brokers involve Account Managers and Sales teams hosting webinars, although it is one way of doing webinars, this in general is the least effective way of hosting webinars. Involving a professional trader or trainer sharing his experience using your broker will generate 30% more leads and will have 50% higher conversion.
2. Offer generic and Premium webinars: Although I agree that webinars should be free of charge, there are some educational content those pro traders just won’t be offering free of charge. Partnering with a professional trainer to offer premium content specifically for your new leads who open and fund their accounts with as low as $100 or $500 as an initial commitment will accelerate the lead to client cycle. If they are not happy they can withdraw their funds immediately after the webinar, 78% will be committed to you and will not withdraw their funds without practicing their newly learnt strategy.
3. Create urgency: Hurry up is good, but it is annoying and people are quite bored of these words. This is where urgency comes in, and it’s closely related to the last point. If you can set a maximum number of available seats and show countdown for the remaining seats your followers will naturally be lead to sign up as they don’t want to miss “this unique” opportunity.
4. Everyone loves Free add-ons: After the webinar make sure that both your registrants and participants receive an email inviting them for the next webinar and offer them additional add-ons such as a free E-book or a market research which would add value to their operations.
5. Follow up: often brokers forget that their leads are human, trying to put them into an automated funnel. Although automated conversion funnel would work well on online generated leads, research shows that giving a call to the webinar participants hours after the webinar have an accelerator impact on leads’ behavior. Calling these participants a broker representative should aim to get feedback on previous webinar to create trust as the preliminary target.
HOW EDUCATION LEADS DIFFER FROM OTHER LEADS?
1. Strong Intent: If someone signs up for your webinar you can be assured that they are either existing traders or are interested in trading.
2. Higher quality data: research shows that webinar leads often provide their immediate contact details as they don’t want to miss this webinars, compared to other lead generation methods.
3. Access to the other brokers’ clients: If you find a way to share your webinars on other major media sites such as AtoZ Forex you immediately get to access to a new list of traders to market to.
4. Word of mouth: Your own clients will often ask questions about your new promotions or account types during the webinar, which is a passive promotion method in itself.
5. They are more loyal: According to my experience, webinar leads are more loyal, especially if these traders are addicted to your speaker’s analysis. They will keep trading with you as long as your analyst shares his opinion and satisfies them.