Why E-mail marketing should be at the top of your brokerage’s marketing campaign
“Sending an email to someone who has requested to receive it increases a brokerage’s chances of conversion dramatically” – Yael Warman, Leverate
The Forex and Binary Options industries rely on affiliate marketing like no other industry. Anywhere from 70 to 90% of a brokerage’s traffic comes from affiliates. As competition rises and acquisition costs increase, brokerages will need to look elsewhere in order to bring in leads. E-mail marketing plays a huge role in businesses’ digital marketing campaigns and can lower your brokerage’s acquisition cost significantly.
Let’s take a look at why so many companies are relying on e-mail marketing as one of their main sources of lead conversion.
Email marketing is inexpensive. Compared with other marketing channels, and even with traditional direct marketing campaigns, e-mail marketing has the great benefit of being low cost. Even if your company chooses to pay for a service to distribute, track and manage e-mail marketing campaigns (which we absolutely suggest you do), the cost is a small fraction of what it would cost to pay for exposure on a magazine, billboard, television broadcast or other marketing channels.
Email marketing is highly targeted. Most businesses relying on e-mail marketing to convert clients are targeting their campaigns to people who have signed up to receive such e-mails. Sending an email to someone who has requested to receive it increases a brokerage’s chances of conversion dramatically. You can obviously send unsolicited e-mails as well, but you are more likely to damage your brand’s image than you are to convert such leads.
Email marketing lets you segment your audience. When you send an e-mail to a specific segment, your chances of generating a desired action are great. Let’s say you segment your leads according to the banner they clicked on or the region in which they are located. You can then send different e-mail campaigns to each segment, meeting the specific needs of those customers.
For retention efforts, you can segment your traders according to the instruments they most often trade, and then send news related to such instruments to generate an action, in this case, open a position. Studies show that using this tactic improves engagement rates dramatically.
Email campaigns are easy to create. With the proliferation of e-mail marketing platforms, you don’t need a team of designers and IT personnel to create an engaging e-mail campaign. Great looking templates with the ability to include pictures and video are available at the click of a button. All you need is valuable content to share.
Email campaigns are easy to track. Most email marketing platforms allow you to track your campaigns for delivered, open, click-throughs and more, making it easy for you to evaluate the success of your campaigns.
Emails are easily modified. Have you ever printed a flyer only to discover your phone number was wrong? With e-mail, you can make adjustments easily for future campaigns without the added cost of additional printing. Additionally, if campaign is not working as you expected, you can easily make changes on the wording, change CTAs, etc and test in smaller batches.
Email marketing is the shortest way to a purchase. In as little as two clicks of the mouse, a customer can go from seeing your email to opening an account r making a deposit. With an engaging call to action and a link straight to the designated page on your website, e-mail campaigns can be great drivers of sales for your brokerage.
Email campaigns have no borders. Email marketing allows you to send an e-mail to your client base across the street or across the globe, just as easily. If your brokerage’s clients are spread throughout the EU, you can send an email campaign to clients in France just as easily as you do to your clients in Germany, something that would be much harder and more expensive to do using other traditional media.
Email campaigns are shareable. If one of your clients finds your offer interesting, he/she can easily forward it to a friend, effectively becoming your brand’s ambassador.
Email is immediate. Because e-mails are deliverable immediately, you can begin tracking and measuring the results of your campaign right away. You can also create time-sensitive campaigns, such as the encouragement of clients to purchase a certain currency based on a recent news event or 24 hour sales, which are great ways to generate urgency and immediate action.
Email marketing has phenomenal ROI. According to a study performed by the Direct Marketing Association in 2011, the typical returns of an email marketing campaign is £40 for every £1 invested, a fantastic return compared to other media.