Smart segmentation, GDPR and emails: Marketing insights from FinanceFeeds Cyprus FX Industry Seminar

Maria Nikolova

The new regulations have challenged the traditional way that marketing is done in the FX industry – participants in the FinanceFeeds Cyprus FX Industry Seminar discuss today’s reality and future approaches.

Is email marketing gone for good? How have the new regulations reshaped Forex marketing? What are the new solutions that form the sine qua non for a brokerage’s marketing department? These are some of the questions that were discussed by the participants in a marketing panel during the FinanceFeeds Cyprus FX Industry Seminar that took place on June 21, 2018 at the St Raphael Resort in Limassol, Cyprus.

The participants in the marketing panel, moderated by FinanceFeeds’ CEO Andrew Saks-McLeod, included: Laoura Salveta, Director of Marketing at 120advertising; Maya Kenner Fitoussi, Head of Professional Services at Leverate; Yaara Rozenblat, Head of Marketing at Leverate; and Tamir Salman, Product Manager, Leverate.

The panel discussion was preceded by a keynote speech delivered by Maya Kenner Fitoussi who presented a brief history of the evolution of marketing and highlighted the need to redo the whole game via smart analytics and smart engagement. She emphasized the importance of enhancing customer experience by means such as capturing emotions. She also underlined the necessity to overcome the “bonus culture” and to focus on the building of broker-client relationship that may provide a genuine customer experience. The quality of the experience is crucial, Maya Kenner Fitoussi said. This means less spam and no bombarding of the customer with emails.

The marketing panel discussion initially focused on the quality of customer experience and on how brokerages may empower themselves to do marketing correctly and provide such experience to their customers.

Tamir Salman noted the challenges that the new regulations, especially GDPR, have presented to traditional marketing approaches. The numerous emails that each member of the audience has received in relation to GDPR were mentioned as an example of how burdensome these new rules may be for companies and their clients. Apparently, GDPR has exposed the problems associated with email marketing, at least the traditional way that it is done, and has raised the need for a more personalized approach towards the customer. A brokerage has to understand what the customer cares about.

Laoura Salveta said that she is a firm believer in segmentation but warned that such an approach is time-consuming.

Laoura Salveta of 120advertising and Andrew Saks-McLeod of FinanceFeeds

Maya Kenner Fitoussi added that there is now a need for smart segmentation and that brokerages have to know how their clients behave in order to bring them from where they are now to where they want them to be.

Tamir Salman stressed that email is not dead, as for some people it remains the preferred channel. Laoura Salveta agreed by adding that mass emails don’t work and that the approach should be specific.

The need to measure marketing effectiveness and success in new ways was also highlighted. Tamir Salman stressed that instead of traditional measures like CPA and impressions, this effectiveness is now measured by cost per experiment.

The participants also replied to questions from the public about the problems associated with old-school sales processes and the need to overcome traditional sales pitches. There were also questions about gamification and why it seems that it has been gone from the industry for some time. The comment regarding the latter question was: because of regulations.

Read this next

Retail FX

Moomoo onboards 100,000 Malaysian clients in six weeks

“We are committed to enhancing the investment experience with smarter tools and deeper insights. Our mission is to not only grow with the Malaysian market but to lead it, shaping the future of investing in the region.”

Institutional FX

Clearwater completes acquisition of Wilshire’s analytics solutions

“Our vision is to create the preeminent investment management solution for firms around the globe. Clearwater’s integrated platform eliminates the need for multiple data reconciliations, serving as a reliable singular source of truth.”

Fintech

BizCuits integrates DXtrade platform for CFD brokers and props

The DXtrade platform features built-in trading journals, performance dashboards, responsive charting, and mobile trading apps.

Chainwire

Decoding Bitcoin’s Future: Bybit Insights on Halving, ETFs, and Macro Shifts

In a riveting panel discussion hosted by Bybit, one of the world’s top three crypto exchanges by volume, key figures from the crypto industry gathered to discuss crypto and global finance.

Digital Assets

CoinMENA taps Zodia Markets for enhanced liquidity

“With Zodia Markets we substantially enhanced our service offering and can provide investors with more efficient avenues for entering and exiting the digital assets market, with minimal transaction costs and efficient settlement.”

blockdag

BlockDAG’s Rise: A Potential $20 By 2027 Against Bitcoin And Ethereum Classic’s Fluctuations, Achieving $19.5M In Presale

With projections setting BlockDAG’s value to soar to $20 by 2027, its innovative ASIC mining rigs and a strategic lunar keynote teaser enhance its allure as the top long-term cryptocurrency investment.

Chainwire

Unveiling the KARRAT Protocol: Pioneering the Next Era of Gaming, Entertainment, and AI Innovation, Reshaping Hollywood and Beyond

$KARRAT is the governance token of the KARRAT Protocol. Using $KARRAT, the community will determine how the KARRAT Protocol is integrated into games and products, empowering the community of players and consumers, much more than traditional entertainment titles have.

Digital Assets

FTX customers drop claims against Sam Bankman-Fried

Former FTX CEO Sam Bankman-Fried has reached a preliminary settlement agreement with a group of FTX customers who have decided to drop their class action lawsuit against him.

Digital Assets

Ontario court sues Binance for securities law violations

Ontario’s Superior Court of Justice has filed a class action lawsuit against cryptocurrency exchange Binance for allegedly selling crypto derivative products to retail investors without registration, violating securities laws.

<