While we all know that timing the market is a fools game, when it comes to marketing things might be a bit different. I’ve previously discussed what to do with advertising in periods of low volatility and argued for a market turmoil emergency plan. Now that 2016 is shaping up to be a period of higher volatility, it might be time to start pushing advertising budgets upwards, to take advantage of the increased interest in trading and the more profitable clients that high volatility brings.
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You see, many of our broker clients notice an uptick in the number of leads, clients and trading volume when there is more volatility in the market. This of course makes sense, as clients want to take advantage of the market moves in order to increase their earnings. Conversion thus gets easier, cost per lead and cost per client lower and the average ROI on new clients is a lot higher.
So if you believe that recent volatility will continue, now might be the time to re-evaluate your advertising budgets for the year. So say you have convinced the company that spending more during the higher volatility is a good idea, how do you spend the money? Well, while brand advertising should always be a big component of your advertising budget, the things that really work during times of high volatility are the acquisition focused channels. The channels we recommend you look at are pay per click advertising, programmatic advertising (RTB) and email marketing.
What these 3 have in common is that they are on demand, don’t require a whole lot of planning and are very measurable. High volatility this week? Turn up the RTB campaign. EURUSD going up like a rocket? Increase your PPC budget. FED coming out with a rate decision? Send a themed email to a trading list. You get the idea, now is the time to start planning.