The Complete Guide to Forex Marketing: Channels to Improve Your Brand Influence
Every enterprise strives to maximize brand exposure and increase brand influence. Even Coca cola and Kentucky have to advertise from time to time to keep their brand awareness and increase customer loyalty. There is no denying that forex brokers and fintech companies are in need to advertising, too.
In a sense, advertising is an art. Human brains are hardwired to hate advertising. Good advertisement and marketing should display at an appropriate time to solve an appropriate issue to an appropriate degree. Then here comes a question: Where can they display their ads?
Google, of course, is a top option for each of them, as it is the largest and most popular search engine across the world, giving birth to a bunch of companies specializing in SEO, SEM, and keywords. In essence, all the ad services provided by Google aims to match its algorithm.
Google Ads target a wide audience that can meet your GEO demand. However, the advertiser needs to have a know-how about the back office of Google ads as well as key words, match mechanism, competitor keywords, to name a few. For example, Google prioritizes ads based on relevance, but the highest bid doesn't necessarily always win. Your bid gets your foot in the door, and your ad's relevance to the keyword gets you in the house.
In addition to the high threshold, Google's review policy may be a hindrance to your marketing strategy as they usually require fintech and fiance companies to submit certificate or license for compliance reason. Fazzaco has received 2 inquiries from CRM providers on how to solve their Google Ads issues.
In fact, their products have nothing to do with financial license, but their key words do, which is often rejected by Google Ads review team who believe "it is better to condemn the innocent than to run the risk of sparing the guilty".
But how can a CRM provider apply for a financial license? Even it gets a FCA-license granted, should it apply for a CySEC license when providing software to Australian clients again? Let alone CRM services are not subject to FCA and other regulatory bodies.
Social Media Platforms
Social media platforms are the second most popular websites next to Google, and are very likely to surpass Google in years to come. WhatsApp, FB, Tik Tok, Twitter, LinkedIn, YouTube, Reddit, and many others have established their own advertising ecosystems where users are encouraged to leave comments. Social media marketing is especially favored by forex brokers as these chat groups are intended high quality clients.
Compared with search engines, social media platforms have a more precise targeting as it can categorize users with different labels and push customized content based on big data and advanced algorithm. Facebook is the number one social media platform with over 2.7 billion monthly active users, according to a 2021 Statista report. In addition to its large audience base, the platform offers granular targeting capabilities, allowing marketers to reach users based on demographics, behaviors, life events and interests. Smart Insights reported found that in Q1 of 2020, the median CTR for a Facebook ad on the newsfeed was 1.11% – compared to .47% for Google Display ads in the same time period.
Another advantage of social media platforms is that you can invite or create your own KOLs to raise your brand influence. Traffic is king here. That is the reason why a single post may contain longer hashtags than the text itself. For companies with limited budget, it costs nothing to setting up an official account, post some content and design images and you can get return gradually: you'll see more followers, comments, and reshares. But things would be far different if you turn to Google Ads. Unless a user searches your URL directly, your website would not be shown in an overwhelmed number of similar websites if you do not pay for it.
Third-party Marketing Company
If you want to set yourself free from marketing "chores" and focus more on developing your platform, then a third-party marketing agency would be an alternative.
These companies usually provide one-stop customized marketing services ranging from Google Ads, SEO/SEM, automation, website optimization, analysis, social media marketing, and many other services.
They can help you access various marketing outlets so that you can get exposed multiple times.
Taking Digital Pulse as an example. Other than normal marketing services, it can help you communicate with clients through email blast, which is an effective way to get attention, share information, and establish long-term relationship with the client base.
Offline Exposure
Though forex brokers and fintech companies mainly engage in online business, they may resort to exposure offline such as billboard advertising, airport, elevator, or bus station. Nevertheless, it requires the advertiser to have a higher budget, such as Equiti, which received naming rights for a Dubai metro station.
Other than budget, geographic location is another key factor. Forex brokers have to avoid countries that ban or set strict rules for trading (e.g. China and the US) and seek countries that have a stable population for trading (rather than Vanuatu, though many may apply for a license and set a office there).
Sponsoring sports would be an option. Reputable brands like HotForex, Plus500, CAPEX.com, IG are all sports sponsors as the fans overlap with forex traders profile.
Events
The final and most important marketing channel is event, which is mostly favored by fintech companies. Exhibitors can meet clients face to face, get first-hand information, and chances to display brand. Some may even announce the new launch of products during the event to make a show of power.
But some may also complain about the lack of traffic. Many events, especially forex and fintech events, charge fees for local visitors. And to save money, many organizers only set their booths at around 7-8 sqm, which is uncomfortable as it can only house no more than 4 persons. If I were to pay for an event ticket and go along with the crowd, why should I visit the show instead of watching a moving and having a Big Mac?
Nevertheless, if an expo is held in Dubai, the next financial hub, with super large booths and free tickets to all visitors, then it can ensure maximized brand exposure for exhibitors and comfortable attending experience for attendees.
That is exactly how Fazzaco Expo differentiates from other events. Fazzaco Expo is going to be held in Dubai on October 12-13, with 5,000+ sqm super large venue and 30+ lectures! Contact event@fazzaco.com and reserve your booths now!
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