Business development and acquisition of target customers
1. Retain customers, increase the deposit amount, and extend the life cycle
For foreign exchange brokers, customers are the key to success, and the number and quality of customers will indirectly affect the operation of foreign exchange brokers. Especially with the rapid development of China's foreign exchange market, competition among brokers is becoming more intense. Everyone wants to occupy more positions on the big cake of the foreign exchange trading market. At this time, how to attract customers and retain them, increase the customer's deposit, let them trade as much as possible, and extend the life cycle of old customers is particularly important.
Forex brokers need to have a strong and attractive innovative trading system and a new marketing model to extend the average life cycle of traders, increase transaction volume and increase deposits.
2. Reduce customer acquisition costs and increase conversion rates
With the intensification of industry competition, the foreign exchange market has seen a rise in the cost of acquiring customers, but the conversion rate of customers is not high. The increase in customer acquisition costs will directly put pressure on platform operators. What a foreign exchange broker needs to do is to reduce the cost of acquiring customers and increase the conversion rate as much as possible.
Brokers need a back-end that can manage the customer acquisition process leanly, use software to count customer sources in real time, and find ways to improve customer conversion rates based on analysis results.
3. Systematic brand marketing and communication management
Forex brokers should have brand philosophy and awareness, effectively control the relationship between brands and consumers through brand management, and ultimately form a brand advantage, so that corporate behavior is more loyal to the core value and spirit of the brand, thereby maintaining continuous competitiveness.
The back office of a foreign exchange broker should have a systematic brand marketing and communication system, save labor costs, control the marketing process, automate marketing, and increase brand awareness.
IB Management System
Foreign exchange IB (Introducing Broker) is a role between investors and trading platforms, and is a channel provider of the platform. To put it bluntly, it is to act as a sales role in the industry, responsible for expanding the dealer market, acquiring more customers for the dealer, and getting a certain rebate from the dealer as a commission for sales.
IB focuses on finding cooperation platforms and developing customers. According to different operating methods and profit models, IB is mainly divided into rebate IB, customer service IB, trading signal IB, social media IB and white label IB. There are some platform chambers of commerce that set levels and advanced systems for IB, and different levels of IB can get different rebates.
Therefore, foreign exchange brokers need to have an IB management system. First, have IB level management. Avoid unclear IB affiliation; Second, the high degree of freedom of commission distribution. Can apply a variety of commission policies (spread percentage, pip value, net profit share, etc.), and can achieve automatic settlement; three, professional reports, at a glance. Both dealers and agents have the right to log in to view their trading performance, such as account openings, deposits, and transaction details.
The back office of the foreign exchange broker needs to easily cope with the update of the provided trading varieties, the setting of overnight interest, and the filtering of abnormal prices.