How to grow Forex deposits with virtual events
The new norm in event marketing for Forex brokers
Social distancing in 2020 has changed the way businesses operate and interact with clients. Forex brokers have asked staff to work from home and are looking for ways to hire the best remote workers for their brokerages. The same “at a distance” concept applies to interacting with Forex traders, since in-person exhibitions and events are no longer feasible, at least for the near foreseeable future.
Companies who transitioned to hosting virtual Forex events to build trader relationships, even during social distancing, are succeeding in attracting deposits.
Virtual events by Forex brokers have been a common practice for quite a few years now. Usually, this was in the form of webinars that were used for lead generation, conversion and retention. In 2020, brokers are expanding virtual event options and building a more extensive range of online activities into their marketing plans. We’ve seen events such as:
- Forex exhibitions
- Forex seminars
- Forex conferences
- Networking events
To get started with virtual Forex events you’ll need…
A clear strategy
Virtual events open up new horizons for interacting with Forex traders. But first, you’ll need to think about a few key details and questions to consider before launching an event:
- What is the event going to cover?
- What are the benefits for attendees during the event?
- Is it going to be a free event or will there be a charge for it? Take into consideration that when charging, there’s a significant reduction in the number of attendees.
- When would you like to hold the event?
- What is the time and duration of the event?
- Are you going to have guest speakers and if yes, who?
Your chosen platforms
There are an abundance of tools and platforms to help you set up your online Forex events:
- Social Media channels – Facebook Live, Instagram Live, IGTV, Youtube
- Webinar Platforms – Zoho, Go-to-Webinar, Webex, Bluejeans
- Teleconferencing platforms – Skype, Google
By planning these two elements, you can narrow down your requirements and adequately prepare for your event. Now let’s move on to the operations side of things.
You’ll need these three tools to manage your Forex event
Once you’ve agreed on all the preliminary specifics, it’s time to get started with the sales and marketing preparations. Make sure these tools are working well.
A Website or landing page
A place where your attendees will find information about the virtual event as well as your company and speakers. Your landing page needs to provide the user with the message required to inspire them to join. It also needs to state what they can expect to achieve from attendance and what they might need to have on hand during the event.
You’ll need to make sure your registration form is functioning correctly and that all the fields required for successful registration are there. Remember to create a tracking code to track a registrant’s lead source accurately. By using tracking links and pushing data to your CRM, you’ll know how many times those links were used and if all the registrants have been contacted correctly.
A reliable Forex CRM
Using the right CRM is vital to the success of your virtual Forex event. The purpose of any virtual Forex event is to generate leads or build relationships. A broker specific CRM like CurrentDesk can help you manage each interaction with your client, but most importantly, help you maintain full compliance with all your regulatory requirements.
Don’t forget to work the leads you’ve generated. Use your FX CRM email functions to notify registrants both 24 hours and at least 30 minutes before the event is about to start. This will boost your attendance rates.
Test, test and test again
Once the three core foundations are working correctly, test the platforms you’ll use to deliver the event. As mentioned above, Zoom, Facebook live and IGTV are all useful platforms to use to host virtual Forex events. Make sure you are used to their interface and event controls.
Events on social platforms make it easy for potential Forex traders to access your event without downloading any tools or reaching meeting headcount limits. You can also target attendees with further advertising campaigns as it’s easy to build custom audiences or to ask them to follow your page right then and there.
Zoom, Webex, GoToWebinar and other webinar platform providers offer a more controlled business environment through which you can deliver your virtual Forex event and presentations. They are excellent for new lead generation in small focus groups, however we have also seen them used for retention based events with existing traders.
A final point before planning an event – Attract attention
You’ll need to segment and target prospects accurately. Make sure to build lists and separate messages for leads, active traders and dormant accounts. Each type of client will have different interests and your messaging will need to align correctly. Feel free to explore some of our other posts that help with the broker marketing activities:
We believe virtual events will continue to prevail during 2020 as most Forex brokerages continue to reconcile with the effects of the global pandemic. Fortunately, distanced online interactions are a reality that the Forex industry has been comfortable with for quite some time.
We look forward to seeing what you build.