In Lean Times, Which Marketing Tactics Are Necessary For Brokers?
- When volumes are down, a lot of brokers stop spending on marketing. It makes some sense because when volumes are down.
When volumes are down, a lot of brokers stop spending on marketing. It makes some sense because when volumes are down, Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term is down and that in turn means that less people are interested in trading, whether they are new or experienced traders. Having less volume also means that there are lower earnings, so the first thing to cut is that juicy marketing budget. And that’s what happens.
Don't Abandon Your Marketing Strategy Just Yet...
However, while this makes some sense, there is still business to be picked up. If you keep a close eye on your KPIs and optimize spend where needed, it really doesn’t have to impact your Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term as much; particularly because other brokers will be doing less marketing (something which we see during holiday periods too). The income per client will be lower due to lower volatility though, so figure out what that number is and make sure you hit KPIs to continue making a profit. In addition, time and time again research has shown that those brands that spend during a downturn grow faster after that downturn. And while this is not a business driven by Brand as much as others, this is also a consideration to make.
But if you have to make a decision on where to cut and where to keep spending; I would cut brand building budgets over direct marketing budgets, I would cut direct marketing budgets over customer loyalty budgets and I would cut customer loyalty budgets over sales and support (team) budgets.
When volumes are down, a lot of brokers stop spending on marketing. It makes some sense because when volumes are down, Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term is down and that in turn means that less people are interested in trading, whether they are new or experienced traders. Having less volume also means that there are lower earnings, so the first thing to cut is that juicy marketing budget. And that’s what happens.
Don't Abandon Your Marketing Strategy Just Yet...
However, while this makes some sense, there is still business to be picked up. If you keep a close eye on your KPIs and optimize spend where needed, it really doesn’t have to impact your Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term as much; particularly because other brokers will be doing less marketing (something which we see during holiday periods too). The income per client will be lower due to lower volatility though, so figure out what that number is and make sure you hit KPIs to continue making a profit. In addition, time and time again research has shown that those brands that spend during a downturn grow faster after that downturn. And while this is not a business driven by Brand as much as others, this is also a consideration to make.
But if you have to make a decision on where to cut and where to keep spending; I would cut brand building budgets over direct marketing budgets, I would cut direct marketing budgets over customer loyalty budgets and I would cut customer loyalty budgets over sales and support (team) budgets.