John Evans offers a glimpse on the market place and advertising mediums, together with some valuable tips on digital marketing
One strong correlation that we have noticed in the FX space for retail FX brokers to consider is that people either want a brand to match their personality to use it as reflection of their character, or to portray the desired perception of themselves, something they aspire to. With this in mind, brokers who have clearly defined their target demographics are the ones that gain the most cut-through.
For brokers whose model is based on volume of clients, invariably targeting the lower end of the retail market is often seen to be the most opportune route. However, if not considered and planned properly this can often result in failure, due to the lack of ‘stickiness’ that these client offer.
Brokerages need to speak on a level that is attuned with each demographic. By ensuring that brokers can provide the relevant messages to the relevant demographic, they are building positive association and in turn, brand resonance.
Social and Viral
It is in no way, shape or form a surprise that the presence of social media is an ever increasing and more competitive space. More and more, brokers are realising what can be achieved through social portals, and the value that each one of them brings. With this in mind, a very successful route to market and a noticeably growing trend is the endorsement route, and obtaining brand advocates. There are 3 key social profiles that brokers need to understand, when looking for social advocates:
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– High-degree seeds (hubs)
– Low-degree seeds (fringes)
– High-betweenness (bridges)
Each of these seeding profiles has a particular hypothesis attached to it
2016 looks to be a great year for online marketing, and we see these trends continue from 2015. With the continued emergence of video advertising, and the increased sophistication with which information, and indeed a broker’s brand, can be delivered to a consumer, a multi-layered strategy is critical for any brokerage to consider.
Technology is making brands (not just brokerages) more accessible than ever, and we are only now starting to utilise these funnels as an industry to cultivate commercial success.
Want to learn more about the secrets of digital marketing from John? A detailed article on this topic can be found inside our Industry Report for the first quarter of 2016. To get your copy, chose one of the options below: