How can you use this data to your advantage? Well, let’s take retail foreign exchange (FX) as our example. We want to find some new customers for our brokerage. As retail FX trading is more akin to gaming than financial investments these days, we can use the Data.gov.uk website to find the latest British Gambling Prevalence Survey.
This document provides an array of potentially useful socio-economic information and insights about peoples’ gambling habits, preferences and responses to marketing. It also offers demographics such as gambling frequency by age, gender and ethnicity. This data might help inform new product development and marketing campaigns.
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The British Gambling Prevalence Survey tells us that we can find the highest concentration of regular gamblers in the East Midlands, for example. Next, we can look at the Office for National Statistics (ONS) data on languages spoken across England and Wales. It seems that the East Midlands have significant numbers of people speaking Lithuanian, Latvian, Russian and Serbo–Croat.
We might also look at ONS data on internet and smartphone penetration for the region. So now we can set-up a series of Google AdWord campaigns segmented by geographic location (Boston and Corby, East Midlands), relevant foreign languages and device types. When preparing your ads and landing pages in different languages don’t rely on Google translate – it’s usually terrible. Pay to get the translation done properly; use a service like One Hour Translation.
While your competitors are paying upwards of £40 for FX trading-related keywords and phrases you can reach out to a whole new segment of potential customers (albeit a small one) at a fraction of the cost.