Surviving a Forex apocalypse using creative marketing – Guest Editorial

By Nicc Lewis – CEO of Expozive Marketing & Marcom

There seems to be an air of doom and gloom in the Financial Trading Industry. Some talk of severe contraction, some talk of a dying retail industry. Regulation plays a part but the restrictions on marketing channels and the rising costs of permissible channels have made user acquisition exorbitant in costs, while compliance make conversion harder.

It may be tough reading and even a little sensationalist to think an entire industry could be heading for obliteration, but the dangers are there. Although deep pockets may help you survive, being creative with your marketing would certainly help. And for those who survive, they will be the market leaders when the sector grows again.

The Problem Today…

Let’s start at the end and work back. Conversion has become more difficult. It is well known in Marketing that each click or steps increases abandonment. Therefore it is no surprise that the additional steps of KYC and income surveys for Regulatory compliance invite potential clients to drop out – especially those who are new or applying for the first time.

Assuming that this is a fact and that we can overcome this, there is still an issue with payments and banking in general. Forex has a tarnished reputation, especially in the wake of Binary Options and some of the less honest ICOs.

Usually the answer to lower conversions is to drive more traffic, trying to reduce costs and creating a unique and attractive offer that differentiates you from the market.

Again, regulation seems to hinder progress. The restrictions on bonuses and offers make it seemingly impossible to be more attractive than your competitors. As for the trading platform, creating differentiation there is even more difficult.

The situation is made further onerous when looking at Marketing channels. Common keywords have become unviable in costs where you can actually bid. SEO is highly competitive and in both cases (SOE & SEM), operators are competing with Affiliates for the same sources.

You certainly do not need to spend valuable time on reading an article about the problems you already know – you need solutions…

The Counter-intuitive Solution

Recent research and articles seem to indicate that we are all consuming less scheduled programming on television and radio. Demand is higher for content on demand (such as VOD), especially among Millennials who are now coming of age and generation Z who are definitely in your target group.

Production costs for ads are high and run times are perceived to be relatively expensive with low ROI if you can measure it all – in short, expensive Brand Awareness to a shrinking audience.

Then why is traditional media enjoying a renaissance? And why has it become one of the main channels of choice of even the smaller brands? There are many myths to debunk. Firstly, not all content is consumed on demand.

Many sports and reality events are consumed live, while advertising packages can include on demand content. It also turns out that it is not as cost prohibitive as you may think. Other than the actual slot costs, some radio stations, for example, will include production in their package. With digital services via apps, streaming and on demand, you can now target your audience like any other online channel.

In addition, with Generation Z and up already banner weary and the rise in banner blockers, traditional media is becoming more attractive.

As for the tracking – this is not an issue.

The key to success is to be memorable and to cluster ads for repetitive consumption. Other than ROI, the Brand Awareness will give trust, brand visibility and increase conversions across other channels too.

This Is The Winter Of Content

Content has become more important than ever. Once you understand your target audience and looked at your keyword research (short tails and good traffic low competition long tails) that also have some resemblance to your AdWords campaigns – it is time to build content. Not filler content, you need content that gives the reader value. It should be a blend of directly applicable, interest related and can include general content.

Content should ideally be spread across your website, other websites and social media channels and include: written, video, infographic and social posts. All published content should be pushed via social channels.

Written content should be a blend of short (400 – 800 words) and longer (1,500 to 2,500 words) – if it has value it will be read. If it is read it will have good indicators for Search Engines and Search Ranking. Likewise with Video with longer videos now becoming more popular. Just remember you will need to have cuts of 15 seconds and 30 seconds to promote on Twitter and Facebook.

When it comes to social media, you need to dedicate time to publish and to manage and grow your followers. Most social media is like a fast moving stream of information that gets lost after 15 minutes to an hour or two depending on the channel.

Ideally aim for 2 to 3 posts on Facebook, Instagram (B2C), LinkedIn (B2B) per day, 4 to 5 posts daily on Twitter and 1 to 2 videos per week on YouTube, Vimeo and Twitch. On many channels you need to be active in finding your audience.

With Twitter it is about following as many people as possible. LinkedIn is about cold outreach and the list goes on with each channel. There are many tools available to automate some process and collate content. Or, this is a classic service to outsource to a good agency who understands the business.

Do not try and sell in your content. Give value and get visitors to your real estate – your website, track and remarket – simple.

…And There’s More

We have only touched on this subject; there is so much more to talk about. If you make a stand, are prepared to be unique and memorable, offer good service and invest in your brand, you will not just survive, but thrive…

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.