Following the news of Traders Education’s expansion into new realms, I’d like to share with you the reasons and processes that led to the move. I believe it can be of interest for other industry participants as well, and I’d be happy for any feedback and opinion.
A sense of urgency
Lately, we’ve all been hearing a lot about how the industry is changing. The uncertainty in the air seems to be the only thing that people are certain about. What I find interesting is that I’m not hearing much in the way of solutions, just concerns.
If you’ve been following my posts on here lately, you may have noticed a certain urgency in my tone. Whether I’ve been discussing leads, marketing practices or user interfaces, there’s been a sense that the time is now and that we don’t have any more of it to waste.
However, the kind of change that I’ve been proposing is different to the change that the industry is concerned about. It’s a change that we can all initiate from within our own organizations in order to future-proof ourselves through uncertain times.
The reason for this urgency is that over the past year or so my company has been evolving.
To recap: Traders Education started off as a business that was filling a very particular niche. My experience on the brokerage side of the industry taught me a great deal about the unique challenges that online brokerages face and this definitely informed the direction that Traders Education took in the early days.
I wanted to be able to offer something that would make the lives of both marketing managers and the traders they sought to attract a lot easier. I had seen up close how tricky it can be to develop anything in-house and how hard it is to integrate the offerings of many providers.
Education may not have been the most obvious choice as far as services go. After all, there’s so much information available online, surely there are more lucrative areas of the industry.
What most people see as a conversion is only the very first step
However, coming from a marketing background, I understood the value of content and how vital it is for bringing customers through to door and helping to shape their behaviour once there.
I realized very early on that once you have successfully converted a client and had them fund their account, what happens next depends entirely on how comfortable and confident they feel.
It was this insight that made me understand that what most people see as a conversion is only the very first step. If your marketing ends with the client’s deposit, then you’re basically leaving everything that comes after that to chance.
Their experience after you have signed them up will determine how much they fund over the course of their trading career and how long that career will last, which for me is way more important than the initial registration.
Educational content was a great place to start as it continues to add value even after other marketing initiatives have concluded. Also, once you build a strong library of content you can start getting creative in how to deliver it.
Integrated marketing tools
That word, experience, kept coming back to me. Our next projects involved seeing if we could improve the experience of marketing managers.
The approach: target industry niches that are least systematized
With a solid educational product under our belt, we created a suite that would allow marketing managers to leverage this material, allowing them to provide educational widgets for their affiliates, create and deploy a variety of landing pages and broadcast material for their traders directly from their site.
The focus was slightly different but the approach was the same: target the areas of the brokerage business that are the least systematized and provide high-quality solutions for them. Education and marketing hand in hand. One project builds upon and adds value to the other.
Introducing Traders Platforms
We look forward to giving you something to finally get excited about
As I mentioned at the beginning, Traders Education is evolving. We have identified three key areas where we possess the required expertise to really make an impact. Traders Group comprises three entities, each of which will focus on one of these key areas. Traders Education, Traders Marketing, and Traders Platforms.
Traders Education will continue to provide top quality educational material in a variety of different formats. Traders Marketing will carry on the good work our team has started with our Created line of products for marketing managers.
Last but not least, Traders Platforms will… well, I suppose you’ll have to wait a little longer for that announcement. I promise to update you next month on Traders Platforms.
All I can say for now is that we have something very special in store for you, so stay posted and be sure to pass by our booth at the Cyprus iFXEXPO in May. We look forward to giving you something to finally get excited about again.