Generating leads for you forex sales team through marketing is one of the most important aspects of running your forex business. Getting quality leads for your team at a reasonable cost is the key to making any online forex business work. This blog post will summarize a few of the different ways your brokerage can generate leads and some of the pros and cons of each
Facebook – Facebook marketing campaigns represent a very attractive and cost effective way to reach out to your potential clients and get them to come on to your website. The Facebook advertising tool is extremely sophisticated, and lets you target your leads at a very granular level. You can target them based on their jobs, interests, by geographical region, even age and gender. Facebook campaigns can generate leads at a lower cost than through google, and make it easy to interact directly with your clients through Facebook. While leads that come through Facebook or less expensive than leads that come through Google, there is a downside. Lead quality tends to be lower on Facebook (although this doesn’t hold true across all geographic regions.) Additionally, Facebook campaigns require a greater investment in time and energy to maintain. Your Facebook campaigns will require more unique content to share, and you will have to devote more time to tracking and monitoring what works then with Google.
Google Marketing – Google marketing is still the industry standard for most industries, however it has become a very expensive way to advertise for forex leads. Brokers that are new to google marketing will be shocked at the cost per lead generated through Google through their brokerage. Google sells advertising based on the keywords people search for, so you can decide which words you want your ad to appear on when somebody searches, and then bid for the clicks on your ad. Google is extremely competitive, and it is probably better for new brokerages to focus on the “long-tail,” bidding on keywords that are less commonly searched and therefore less expensive. While all advertising campaigns require constant monitoring, with Google there is less of a requirement to pump out new content and advertisements relative to Facebook.
Banner Ads – Rather than using an online advertising engine like Google or Facebook, you could invest in banner ads directly on forex content related sites. There are several advantages to purchasing advertising space directly from forex media outlets. First, since you will be working directly with the media outlet rather than through an advertising engine, you will be able to negotiate your rates directly and make sure your advertising is being displayed on sites that you think are relevant. The downside to using banner ads is it is harder to test and change your strategy on the fly. Once your ad is running, you will be locked in for the term of the contract, even if you realize that the traffic is not what you expected, or your ad is converting poorly.
Offline Marketing – Offline marketing can be extremely effective, depending on your jurisdiction. With offline marketing, you are meeting your leads directly in person. This is most commonly done using seminars. Meeting your potential clients in person builds a tremendous amount of trust – which is harder to do using traditional online marketing tools. Additionally, seminars can be used to target different types of clients (new traders, investors in managed accounts, etc.) in an efficient way. If you are looking to build your brand in a certain geographic region, holding a series of events is a great way to leverage your online marketing by building credibility.
There are other ways to market your forex broker, including newer forms of social media such as LinkedIn, SnapChat, and Instagram. These methods will be covered in future blog posts!