Forex is the largest financial market in the world trading around £1.3 trillion every day. With the markets open 24-hours from 5 pm EST on Sunday until 4 pm EST on Friday, those in the trading world can’t afford to put their feet up and relax. Standing out from the crowd as a brokerage within the FX sector is not easy, but with the right strategy, it’s possible to get noticed
This Medium roundup features three brands totally rocking forex marketing.
#TD Ameritrade — @TDAmeritrade
Offering access to world-class technology including cutting-edge trading tools, TD Ameritrade has attracted a sizable social media following of 117K on Twitter, 363K likes on Facebook and 61+K followers on professional networking site LinkedIn. But what are they doing to keep people engaged?
Successful Use of Chatbots
Firstly, TD Ameritrade utilises a Facebook chatbot. This not only asks questions regarding personal trading preferences but also provides relevant and up-to-date information about the state of the markets. You can also directly access your accounts. Or open an account, for that matter, direct from the chatbot window. This helps to convert those all-important leads and increases retention as consumers can get what they want, when they want it.
Marketing Takeaway: Embrace trending technology such as chatbots. This is particularly important as:
· Gartner predicts chatbots will power 85% of all customer service interactions by the year 2020.
· People will have more conversation with chatbots than their spouse by the same year.
· Conversational marketing platforms such as Drift and Intercom have secured millions in investor funding showing just how significant improved consumer interaction really is.
Informative and engaging content
The financial world is governed by tight rules and regulations. You can’t say anything at any time, particularly if it includes any kind of buzzwords such as ‘cryptocurrencies’ which may be closely integrated with FX trading platforms.
The second issue is that consumers, namely millennials, really hate over pushy content on social media and are likely to block or silence you if you get carried away. These so-called Digital Natives have seen it all before, are deeply untrusting and prefer to be taken on a journey.
So, how can this be achieved? Well, TD Ameritrade are leading the way with educational and informative content that’s not self-absorbed and all ‘me, me, me.’
Marketing Takeaway 1: Make your content interesting and easy-to-understand. Cater to newbies as well as more advanced FX traders by dividing your content into categories.
Marketing Takeaway 2: Offer click-through content which leads back to your site as this will encourage people to delve deeper into your brand. High-quality material will also enable you to become credible within your industry and encourage new followers to engage.
What’s also great about TD Ameritrade’s efforts is that even when people have clicked through and read the article in question, the brand still tries to discover whether the content provided was helpful. Seeking feedback is the perfect way to tweak and tailor any future marketing campaign. It also shows you care about every stage of the consumer journey and want to be as helpful as possible.
#Interactive Brokers — @IBKR
Promoting online, low-cost trading, Interactive Brokers make their mark via social media in many different ways. Here’s how.
Persuasive content and the fear of missing out (FOMO)
As one of the most popular picks for 18–34-year-olds, Interactive Brokers are clearly targeting content to their millennial-based target audience by using FOMO. This is significant considering 69% of millennials have experienced FOMO according to a Millennials: Fuelling the Experience Economy study by Eventbrite. That’s 7/10 people who are more likely to respond if they feel they’re not going to be part of the fun!
For this reason, the below content seems more than appropriate.
Marketing Takeaway 1: Create a sense of urgency with the words you use. In this case “last chance to register” written in white text on a red background works well.
Marketing Takeaway 2: Use calls to action such as “sign up now” to encourage interaction and an immediate response.
Marketing Takeaway 3: Build your FOMO content strategy on brilliant concepts. Webinars are not only highly engaging but they’re an ideal way to explain tricky ideas and drum up a buzz on social media.
#Robinhood — @RobinhoodApp
Robinhood is dedicated to bringing trading to the masses. The company has amassed a 129K following on Twitter with marketing aimed at millennials and based around commission-free trades. So, what are they doing right?
Short and to-the-point marketing
Millennials have choice. They’re not scared to shop around and therefore it’s important to get their attention quickly. They also don’t like complicated processes and are way more impatient than the baby boomer generation. The content for Robinhood’s app taps into this mindset. Take a look at the few examples of punchy content below.
Marketing tip 1: Make the most of bitesize content. It’s on trend and caters to a generation with an attention span averaging around 8-seconds.
Marketing tip 2: Use catchy headers and click-throughs that encourage consumers to embark on a content-led journey with your brand.
Showcasing Corporate Responsibility
When it comes to ordering pizza, buying shoes, or selecting a broker, millennials tend to think outside of the box. They look behind the scenes at company morals and ethics taking a closer glimpse at who works within a particular team.
In an interview with Investor’s Business Daily, Jodie Navarre who was 29 at the time of the discussion said: “I was deciding between TD Ameritrade and Fidelity, and I thought it was cool that Fidelity has a woman CEO and that she was wanting to get more women in the industry. I thought that was neat.”
Interesting isn’t it? Similarly, companies who totally own corporate responsibility create a bond with millennials by showing they care about the bigger world. And this is something Robinhood is nailing.
Marketing Tip 1: Be responsive, be inclusive and engage with the wider community.
Marketing Tip 2: Don’t be afraid to sing and dance about causes close to your heart that echo your brand values. But be genuine as anything ‘fake news-like’ is a massive turnoff.