The approach which FX companies take toward marketing is an instrumental part of the business, and indeed one of the…
The approach which FX companies take toward marketing is an instrumental part of the business, and indeed one of the most critical aspects within all FX firms.
Many marketing related efforts focus on the retail FX industry and how clients can be onboarded and retained, however the institutional sector is equally important, with initiatives from some of London’s most established commercial companies leading the way in terms of loyalty of their broker partners.
Today, FinanceFeeds spoke to Robert Cantle, Head of Marketing at Sucden Financial in order to gain a detailed perspective on this very important subject.
B2B Marketing is completely different to retail marketing and has its own unique challenges. How has Sucden managed to keep the edge and continue to remain one of the world’s top non-bank liquidity institutions?
Sucden Financial Limited was established in 1973 as the brokerage arm of our parent company, Sucres & Denrées, building its financial strength and developing its reputation in the futures and options markets, most notably within metals and soft commodities. The company has offered FX for over 30 years and the firm is now very well-known and respected for its liquidity provision to
The company’s solid foundations and prudent approach has paid off, particularly following the SNB shock, where we have seen an influx of new accounts attracted by the company’s financial strength, established bank relationships and diversified business model.
The firm has a long history and a genuinely solid and transparent offering – the company’s reputation depends upon client satisfaction and this is maintained by providing a high level of service to all clients.
We see Sucden Financial branding around the web as well as at conferences around the world. How important is this as part of your long term branding strategy?
Our promotional strategy is focused on the events we know potential clients will attend. Conferences can be great places for our team to meet our target audience and raise awareness of the company and its eFX offering.
Our presence at events and selected online media has increased over the last couple of years, which has had a direct impact on interest and new enquiries. We have focused our messaging on the company’s size and financial strength, together with its longevity and diversified business model. Not everyone was aware of Sucden Financial’s size and involvement in other markets. These attributes do set the company apart from our competitors and we find clients feel more secure dealing with a company with such a background.
Ultimately the targeted branding helps keep the company top-of-mind to ensure the firm has the opportunity to pitch for business. Our eFX team can then discuss and customize solutions suited to a company’s requirements. More often than not, Sucden Financial is able to offer the best overall package for a firm.
What aspects of your business do you impart to new and existing commercial partners to ensure that they continue to choose Sucden Financial over other prime of primes in London?
Maintaining good relationships is very important and trust is key. Sucden Financial has established risk controls and all our business areas deal with clients in a very transparent way.
There is always someone available to help at the end of the phone and our teams constantly look for ways to make improvements to our offering. This helps to cement the firm’s position as a leading liquidity provider to retail FX brokers.
Why do senior and good quality business development staff remain with the company for long periods of time?
We have many members of staff who have been with the company for a long period of time – it is certainly not unusual for staff to have remained with the firm for over 10 or even 20 years, including our CEO who has been with Sucden Financial for over 40 years!
The firm has a family feel and those with an entrepreneurial spirit have thrived. As a company, investment has concentrated on new technology, together with generating and growing client relationships. The company continues to expand – for instance a multi-asset team has recently been established to target hedge funds.
As a marketing function we help facilitate and co-ordinate new business generation initiatives and support customer retention. The offering is solid and the firm is willing to embrace change and new ideas. That is what fundamentally keeps staff interested and engaged.
What is the best way to tailor packages to suit large, high volume firms in institutional regions such as Hong Kong or Singapore, and still cater well toward start up brokerages in Cyprus or Malta?
Taking time to understand clients’ businesses is important and our trading solutions can be tailored to fit the levels and type of trading, wherever a client is based.
Our FX client base includes banks, fund managers and retail brokers as well as commercial FX providers and corporates, so there is a lot of experience in meeting different requirements. We have a truly global client base and appreciate that there is never a one-size-fits-all model.
Featured photograph: Sucden Financial depicts its long-established commodities business at the firm’s Central London HQ. All photography copyright FinanceFeeds#branding, #marketing, #sales, #sucden, #Sucden Financial