For the past few days we have been giving you tips, tools and strategies that you can arm yourself with when fighting the war for increased ROI and market share in the constantly-changing forex market. We talked about automation in part I of the series, about using social trading and the convergence of forex and the binary options markets in Part II and about entering new markets, such as Asia and the implementation of a Success Team in part III. In part IV of this series, we will talk about new marketing strategies and working with regulation and compliance.
According to Nicc Lewis, VP of Marketing, Leverate: “Reaching out to new markets generally starts with affiliates and IB’s. Today’s markets are competitive and where affiliates and IB’s can get your foot in the door, in order to succeed you should look further. If you think about where traffic can be generated, and are prepared to be a little creative, then new channels present themselves.”
“Content Marketing can help with search rankings and brand recognition. Make sure you have quality localized content that will appeal to readers. The bolder brokers can reach out to other brokers and share leads. Controversial? Maybe, but think about it in a way that you can better serve one market and another market another broker can cover better. Recommending in each direction each other as an open partnership can certainly bolster your brand as well as leads,” he added.
The largest investment a company makes throughout the acquisition process is in marketing. Affiliates can bring between 70 and 90% of traffic to a brokerage and you can either acquire affiliate traffic from a third party, or establish an internal affiliate structure. Other ways to acquire leads are to recycle or exchange leads between brands and obtain European affiliate traffic from the US. A strong internal marketing team can put a strategy in place that can contain online as well as offline channels, including content and SEO.
FBS Broker Updates its Trading Platform for Excellent PerformanceGo to article >>
Training and education of traders are excellent tools to increase conversion and retention rates.
“In order to sustain a firm and safeguarded financial services company, abiding by strict level of regulatory rules, a good compliance team should know how to balance regulatory work competence with innovative business development driven decisions. By tackling the ever changing regulatory challenges with a forward driven approach, a company ensures that business development units can conduct their work efficiently,” Lewis noted.
Regulation is not the enemy. Having a knowledgeable team that works with regulation instead of trying to fight it is key. A successful compliance team is one that balances the protection of the company when it comes to following regulation, with the flexibility and will to conduct everyday business. A strong compliance team will balance regulation and the company’s top line at all times and will make regulation work for your business instead of against it.
We have seen hundreds of companies flourish and we have walked besides many of them on the road to success. We know what it takes and because we have taken the journey up the hill, we now have a view of the market from the top of the mountain. We hope our experience helps you succeed and that the tools we have provided you with in this series of articles help you navigate the waters of the financial trading red ocean.