How to generate leads and expand your FX business.
Leads generation is a top priority both for new FX companies and long-time industry mastodons. New FX companies need clients to expand and grow, while seasoned corporations need them to stay afloat and expand. With the level of competitiveness growing every day, keeping conversion growing has become one of the biggest challenges for all types of FX companies in the market today.
Traders have grown weary of the same old marketing approaches and their attention span has reduced dramatically. All this has caused FX marketing departments to go on a quest in search of new ways to approach their audience.
Here are some of the best techniques that can help you raise conversions and create a new successful marketing strategy.
Explore other industries
Rather than targeting the same audience as before, try exploring other industries that might overlap with FX. Industries such as online gaming, casinos and even sport betting all have similarities with Forex. Even if they are not as risky and not as complicated, they still provide the adrenaline and excitement their customers require.
People who engage with these industries are more likely to get into Forex eventually, so targeting them at the start can easily up your game.
By targeting these industries and promoting your brand through them, you are gaining exclusive access to a huge audience that can eventually become yours.
Raise your own generation of brokers
Sometimes it’s easier to grow your audience than to find it. By investing in an online educational resource for future FX traders, you are automatically opening the door to new hot leads. How, do you ask? Because if someone becomes part of your educational community, he voluntarily provides you access to his data (abiding by GDPR regulations).
This way you have a person, who is interested in learning how to trade and who you can easily contact and target via marketing campaigns.
By following your customers along from their very first steps in trading, answering their questions and providing them with the support they need during their learning process, you are automatically forming a powerful bond with them, that will allow you to transfer them from student to trader by the end of the educational process.
Use a modern approach
Traditional marketing channels are slowly becoming a thing of the past. Today, social media has already established itself as one of the most popular marketing platforms for any industry. This is why it is essential for FX companies to build a strong online presence and create a fellowship online.
The future of social media is visual. It’s a proven fact that videos are going to be the most effective way of conveying a message to an audience.
To get more leads, FX marketing departments need to explore this and invest in creating high quality and engaging video materials, that will be promoted on social media and websites. They need to focus on educating their followers and making campaigns about their interests and not about company promotions.
Uploading tutorials, holding webinars or even short interviews with FX influencers will allow companies to build authority and reach a global audience.
For a more focused approach on digital marketing in Forex, check out our guide here.
Invest in technology
Marketing automation is important for a number of reasons. First of all, it allows you to automate your campaigns and save time on daily tasks, allowing you to focus more on strategy and creativity.
Whether it’s automating mass email campaigns, that can act as a cold call functionality and personalise your conversations with clients, to automating analytics that will allow you to see which approach is working and which isn’t – automation simplifies your marketing department’s job immensely.
With tools like a CRM, your sales team can also make their daily activities more efficient and keep track of all their leads properly.
If you are interested in exploring this subject further, here’s our article on how a CRM can help your FX business thrive.
Add a human touch
At the end of the day, traders are people, and people prefer to communicate and work with other people. A great opportunity to bring in new leads, is to build a personal relationship with them.
By attending tradeshows, conferences or holding your own seminars for traders, you get the opportunity to meet your potential clients and understand more clearly what they are looking for.
A customer will feel much more comfortable approaching someone they know personally, rather than online.
You can even try organising professional meetups, which will allow you to gather an audience that is interested in Forex and ready to discuss it. This way, you are giving your sales team the opportunity to speak directly to customers and build a much more personalised strategy.
In conclusion, we just want to say that there is no limit to what you can do to bring in new customers to your business. Marketing is all about being creative and thinking outside the box. By studying the market and understanding the direction it is evolving in, you can predict which tools and campaigns will work the best.
Author: Nadia Ivanova, PR & Digital Marketing Manager at Qobo Group Ltd