Forex Trading Leads Generation as a Basis for Successful Marketing Strategy

oday, the Forex sphere is experiencing unprecedented popularity, giving many ambitious entrepreneurs the opportunity to create a thriving business related to Forex trading. Since the main value of any business is its clients, Forex brokers function by expanding the number of investors interested in trading on the financial markets, a process that can be described as Forex lead generation.

In this article, you will learn what lead generation is and why it is important in the Forex industry. You will also learn what methods and tools exist for generating Forex leads and what metrics are used to evaluate the lead generation process.

What is Lead Generation?

The modern advertising market cannot be imagined without comprehensive research on its effectiveness. This is largely due to the conditions of uncertainty and risk of the very essence of advertising activities. The risky nature of advertising can primarily be explained by the likelihood of inefficient use of funds.

The specialists of the marketing department preparing the launch of an advertising campaign, and choosing the tools to promote a particular product or service, inevitably face questions about the correctness of the advertising strategy selected, promotion channels, and distribution of funds to specific channels for the possibility of generating leads. Each business strives to get the maximum return on the money invested in advertising, which is why the question of the effectiveness of ads for brokerage businesses is, of course, the key one since it directly affects the process of attracting new customers.

Before analysing the essence of lead generation, it is necessary to understand the processes of one of the most powerful tools in the modern advertising industry – Digital Marketing. Its initial task is to attract interested visitors to the company’s website (attraction can be carried out through search engines, CMM (social media platforms), and placement on specialised Internet sites). The next step is to convert interested visitors into potential customers (the tools for this task are customer registration, newsletter subscription, etc.). Next is the conversion of potential customers directly into company customers (the means of implementation at this step are EDM mailing lists, telemarketing, postal paper distribution of promotional materials, and sales on the site) and, finally, the retention of acquired customers, the conversion of real customers into loyal customers (the means of implementation are advertising calls, promotional alerts, special unique promotional offers, active communication in social networks, a series of EDM mailing lists).

Thus, lead generation is the process of obtaining the contact information of a consumer who is interested or potentially interested in a service or product offered by a company. It is obvious that the possession of such information increases the chances of selling the company’s product/service to the consumer. Lead generation is a profitable strategy when companies find interested customers (target audience). At the same time, the interested client himself leaves a request for the necessary goods/services, like, for example, a trading platform. Therefore, it is lead generation that is the most dynamically developing area of digital marketing for brokerage, a method that significantly increases the effectiveness of an advertising company, as well as a reliable way to grow a business.

Why is Lead Generation Important in the Forex Trading?

The lead generation process is considered one of the essential tasks of a brokerage company. Forex today remains a high-margin business, and the level of competition increases daily, which implies the creation and application of highly effective solutions in macro-advertising and advertising to ensure a high degree of customer interest in the products and services of Forex brokerage. For the same reason, timely and effective maintenance of the conversion rate of the target audience at a stable level remains one of the main strategic objectives of companies operating in the Forex market.

As a rule, in any type of business, clients are not immediately ready to buy a service, changing their status to buyers (loyal customers). For this reason, Forex brokerage organisations need to apply different Forex marketing tools and methods to “heat up” the interest of site visitors to turn them into potential (real) clients – leads. For this purpose, absolutely all brokerage companies within the Forex business think over a personal strategy that helps generate Forex leads, which is reduced to the study of the needs and preferences of the target audience and the formation of the necessary criteria needed to develop a marketing strategy (advertising plan) depending on the factors affecting the generation of leads. These include the following:

Level of Competition

Today there is an incredibly high level of competition in the Forex market, so in order to make the process of lido generation as easy and simple as possible for the broker, it will be necessary to put the maximum amount of effort and different kinds of resources – to track the actions of the nearest competitors, to analyse promotions, marketing tools, sales channels, to understand how the leaders of the Forex market attract their customers and try to keep up with them.

Degree of Demand

Today, many brokers offer a wide range of various services related to Forex trading. Nevertheless, quite often, it is difficult to attract potential leads to brokerage firms that offer a narrow specialisation service, which is rarely searched for on the Internet. The relevance of products and services plays an essential role in building a customer base through lead generation, which means that there is always a need to follow trends and meet the needs of potential clients.

Deadlines for the Final Decision

Often, most customers, before choosing a particular service or product, tend to spend some time in hesitation and make a comparative analysis with other offers on the market. So, sometimes you have to wait a long time before a potential client decides to cooperate with a Forex broker, which can slow down the process of lido generation.

The complexity of Products Offered

When a company offers a service that is not very standard or expensive, and the process of concluding a transaction is carried out in several stages, it will be much more difficult to attract leads. The broker will necessarily need to stimulate the interest of potential clients in the service through various additional tools, such as SMS mailings, provision of training materials, discounts, promotions, and much more.

Main Means and Methods Used for Generating Forex Trading Leads

Lead generation is a challenging endeavour that requires maximum efficiency in many aspects. However, having several powerful tools in the form of different advertising tools that make up Forex brokers’ marketing strategies, you can achieve impressive results and multiply the base of existing clients. The list of such tools is quite long, so let’s consider the main ones:

1. Email Newsletters

Email marketing is one of the oldest and, at the same time, one of the most effective marketing tools for generating leads today in the Internet age. Many services allow Forex brokers to send different marketing materials related to trading on the market. Also, many Forex companies are developing their own programs for bulk email marketing. This helps avoid unnecessary costs for using and maintaining third-party programs.