How Much Does it Cost to Acquire Forex Customers Using Google?

Finance Magnates answers one of the forex industry’s burning questions of how much does it cost to acquire new customers

How much does it cost to acquire forex customers using Google? This is a question we set out to answer in our Q1 Forex Industry Report. Gaining perspective on the industry, Finance Magnates spoke to brokers, marketing professionals and sources closely involved with Google’s Adwords team. The result is a report that creates a knowledge base for acquisition costs using Google and other search based marketing methods, as well as a table of cost estimates for major countries.

But, spending on top keyword searches is only part of the process. Other important aspects such as campaign targeting optimization, creating customer acquisition funnels and brand image are key items the brokers need to consider when they market their services to Google.

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Customer Intent

According to Amir Yarkoni, CEO of Seperia, a firm that provides performance based online marketing services to businesses, search engine marketing (SEM) and Google in particular are popular because they are intent driven. For example, if a Manhattan pizza store elects to show their ads only to people within five miles of their location who are searching for “pizza stores in Manhattan”, they have a pretty good idea that the searcher is ready to make a pizza order right now. The ability to deduce user intent contrasts to other forms of advertising which can be categorized as more awareness driven.

What makes SEM and Google in particular so popular is that it is intent driven – Amir Yarkoni

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For brokers, being able to serve ads to web users that are revealing their interest in finding a new broker to trade allows them to source motivated leads in real time. As such, Yarkoni explained that analyzing user intent is an important part of a campaign’s success. When a user searches for ‘forex’, understanding whether that person is looking to trade or just the definition of the word, can be a decisive factor just how aggressive the bid to show adverts to that user should be.

Brand Building

Another factor in a company’s success with SEM is their brand image. Firms with reputable brand images and who have high click through rates receive higher scores from Google’s search algorithms. The result is that advertisements from these firms are slotted higher on the page, even if the bidding cost is below that of competitors.

Nathan Rodriguez, Co-CEO and Co-Founder of MediaBrainers, a firm that provides online marketing services such as for SEO and SEM explained to Finance Magnates that building a brand that has a trusted image and believed to provide value to users ultimately lowers a firm’s acquisitions costs. He added that because of this, his firm is seeing a trend in digital advertising that companies are becoming less dependent on SEM and performance advertising, and focusing more on creating product awareness. Part of this is accomplished by creating online content such as free educational tools and services.

To read the full report and learn more about creating sales funnels, evaluating long term value of customers, and to view industry Google Adwords acquisition costs estimates, contact Janet Pinto: janetp@financemagnates.com

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