Leverate CMO: “Banners Are A Passé Primary Acquisition Channel”Leverate CMO: “Banners Are A Passé Primary Acquisition Channel” https://c-suitenetwork.com/wp-content/uploads/2017/06/leverate-cmo-banners-are-a-passe-primary-acquisition-channel.jpg 880 400 C-Suite Network https://c-suitenetwork.com/wp-content/uploads/2017/06/leverate-cmo-banners-are-a-passe-primary-acquisition-channel.jpg
Leverate is a well-known technology and online trading platforms provider. In an interview with Finance Magnates, Nicc Lewis, the company’s Chief Marketing Officer, gave his two cents regarding which marketing mediums are effective when approaching client, while others are a thing of the past. Additionally, Lewis spoke of binary options brokerages crossing over to forex to draw in more clients, as well as expanding to include more local markets.
In terms of cost vs. value, which local market would you define as the most appealing for brokers in terms of marketing (acquisition costs, localization costs, ease of audience segmentation, etc.)?
There is no simple answer to the question. Firstly, each business should look at its strengths in terms of networks and capabilities. If you have a strength, such as a strong IB or affiliate and the language skills and offering, then this is the strongest market. It is possible that the jump to nearby regions can be exploited by the same skill sets and partners. An example could be Germany – if you have German capabilities and networks the jump to Austria and Switzerland may be relatively easy. However, if you are strong in Italy, the move to German speaking countries will be much harder. In terms of expansion, market price for acquisition is usually equitable. The UK has a strong and large market but is by far the most expensive to acquire. You will also need to adjust your offering to suit local trading methods. In general, EU countries are competitive and expensive, which is why many businesses are looking east.
Many binary options firms are now targeting forex traders. What advice would you give them from the marketing side? How do the audiences differ?
First, have a full forex solution in place. Offering limited trading options without full trading platform functionality, like advanced charting for example, will not appeal to traders. Forex traders invest more overall but over a longer period of time. Binary options tend to have a high turnover, making conversion the main focus of sales. In order to extract maximum user value, the first mind switch is to think about retention over a longer period of time. The days of big bonuses and huge leverage seem to…