A Brief Look at QIR2: Is Social Marketing an Inexact Science?

Brokers are constantly seeking to expand their exposure in an increasingly globalized world, routinely adapting to changes that necessitate new

socialmarketingFirms or brokers are constantly seeking to expand their exposure in an increasingly interconnected world, routinely adapting to changes that sometimes necessitate new strategies – the Forex industry is no exception to this trend.

Given the maturation of regional Forex markets, brokers are now finding new and creative ways to push their products and services through social marketing strategies in an attempt to tap into a truly global industry.

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Marketing has always been a hallmark of a growing business, namely across competitive fields in any industry. As such, some of the most successful firms worldwide have become ‘brand names’, achieving a level of exposure many never thought previously possible. However, the advent of technology and interconnectedness of individuals through social media has created a new form of marketing, tapped social marketing.

What Is Social Marketing?

Social marketing aims to achieve these same goals, relying instead on the spreading and sharing of advertisements and exposure of a given product through social media devices and applications. Given obvious budgetary constraints, brokers and marketing personnel do not want to reinvent the wheel per se, rather they wish to maximize their product’s publicity, which makes social sharing operations the ideal vehicle for this purpose.

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At present, there are hundreds of these tools featured on websites or promoting brokers themselves – the most widespread of these being Facebook, LinkedIn, Google+ and Twitter. The inclusion of these devices on websites or use by brokers is commonplace given the online nature of the Forex industry itself, which succeeds in intertwining the two.

qir2Executives Weigh in for Exclusive Commentary 

Forex Magnates has compiled a list of key figures and data for the industry that aggregates and analyzes the contributions major brokers have made in the field of social marketing during the past few years. Using this data, the picture becomes clearer which firms have made a concerted effort, which is weighed against outright growth.

Lastly, Forex Magnates reached out for a unique perspective and commentary from several of the industry’s leading marketing experts. These included OANDA’s VP of Trading, Courtney Gibson, Manzur Numa, Head of Business Development at Tradeview Ltd, and Bart Burggraaf, MD and Partner at MediaGroup London.

To access the full story, the Forex Magnates Quarterly Industry Report (QIR) for Q2 2014 is now available, and contains nearly everything you need to know that transpired during Q2 for foreign exchange, including a look ahead at the next quarter that has already begun.

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