Forex Broker Marketing Plan
November 22, 2019
Forex Broker Marketing Strategy:
A Forex Brokerage needs to establish a brand presence and value in order to achieve stability in the Forex Market, A Brokerage must perform certain strategies for increasing efficiency and effectiveness, a Brokerage needs to be aware of the economic and social entities to which gives a competitive edge to the brokerage of market acquisition, below we shall explain the main points of marketing precisely needed for Forex Brokerage’s to acquire and maintain:
- Location: Target location of audience to be acquired as clients.
- Buyer Persona: Customer Information regarding willing to become a client (Audience – Lead – Buyer – Customer)
- Occupation: (e.g. Professional Forex Trader and Technical Analyst)
- Demographics: (e.g. male, 40-55 years old, British, English as a first language, lives in Liverpool)
- Interests: (e.g. Expert Advisors, Auto Trading, VPS, Indicators, Football, London Stock Exchange, Blogging)
- Behaviour: (e.g. Trades with several forex brokers, occasionally does hedging, trades high volume positions, reads forex blogs, leaves reviews on Forex Peace Army, participates in discussions on Forex Factory, active on Twitter)
- Challenges: (e.g. losing trust in forex brokerage due to regulator warnings, negative balance protection security concerns)
- ANALYZE TARGET:
- Provide Offers depending upon major customer interests.
- Provide Learning and advisory library as well as consultation.
- Provide Security in order to in-length Customer Lifetime Value (LTV).
- Participate in Forum Discussions.
- CAMPAIGN STRATEGY (Digital Channel’s):
The diagram below explains the multiple channel’s needed to be focused on by the Forex Brokerage in order to Acquire customers with high Conversion Rate as well as in-length the Client’s Life Time Value (LTV):
3-5 articles published on website or partner sites targeting website keyword and linking call to action (CTA) to the landing page or Website.
Compose 10-20 text ad variations for search engine marketing (SEM) campaign to test and optimize for best results. SEM campaigns are shown to be one of the most efficient among all the other ads for forex industry. (Hint: Choose Keywords and Bids Wisely).
Engage readers, build a social media following, cross promote between social channels such as Facebook and Twitter accounts and then market to followers.
Compose 3-5 variations of the banners to run across Google Display, AdRoll retargeting, social media channels, media buying and programmatic media buying.
Set up a marketing newsletter to be sent to non-converted leads, arrange external blasts through partners, affiliates, introducers and set up a workflow for those completing the forms on landing page(s).
- Commission: Affiliates send the majority of traffic to the highest bidder. Create an average payout (CPA, CPL).
- Invest in conversion optimization:
Advantage: offering a $300 CPA with a 5% conversion rate.
Disadvantage: $600 CPA with a 2% conversion rate.
(HINT: Acquire professional UX designers and constantly test landing page variations (A/B Testing) to maximize conversion rates.)
- Offer sub-affiliate/IB program: enable affiliate program to grow exponentially (affiliates attract new affiliates).
- Special offers and deals: Offer Double leverage during a timeframe to sign up new accounts.
- Special Commission: Offer Commission during a timeframe.
- Smaller Spreads: Offer Small spreads during a timeframe or on a given currency.
- Quality of Product: Better Spreads, lower commission, faster execution, bigger liquidity of Forex Products.
- Broad array of Products Available: Number of Symbols provided to be traded.
- Capacity and Capability of Sales Department: Conversion skills, sales-client bonding, self-suggestion, consultation, conversion directing.
- Customer Support: Monitor Trade activities, respond to questions, solve Technology issues.