Online Forex Marketing: SEO vs. PPC
6 things to consider when choosing your forex digital marketing plan
If you run a forex business, at some point you’ll need to decide whether to spend more time on SEO or PPC for your digital advertising efforts.
PPC stands for pay per click. It’s the strategy you use if you want to pay for links to your forex brokerage to appear at the top of a search engine result page (SERP). Forex PPC is a good option because you can easily attract your targeted audience, and it protects you from algorithm updates on search engines, which change SERPs. However, it can be too costly for some brokerages.
SEO stands for search engine optimization. It’s the strategy you use if you want a search engine to automatically put links for your forex brokerage at the top of the SERP. This happens when the search engine algorithm determines that the content on your website is a good match for the words the searcher entered. SEO is important for all businesses, and it’s a good strategy to use when you don’t want to pay for advertising. However, it can take a while to make improvements in your organic search ranking position.
Clearly, there are benefits to both SEO and PPC strategies for forex brokers. But before you decide which digital marketing strategy to use, you should consider these six things.
Google has very strict rules about who can advertise forex services and where they can advertise them. We’ve written about Google ads for forex brokers before, but here’s the short version: your firm needs to be licensed and operate in Australia, the European Union, Hong Kong, Iceland, Japan, New Zealand, Norway, Russia, Singapore, South Africa, Switzerland, Taiwan, or the United States. If you’re not licensed or you don’t operate in one of those areas, you cannot use Google Ads.
You might be able to advertise using Google Ads if you use forex-related keywords, but don’t explicitly write forex trading. However, you may not be able to target the right leads if you can’t use forex in your ads. Additionally, Google might not approve your ads even if they don’t contain the word forex.
If you aren’t able to use Google Ads because of the restrictions on advertising forex, you can still try placing paid ads on social media sites and websites like BabyPips. To rank well in the SERPs, you’ll need to focus on SEO.
The SERPs for searches related to forex trading are a competitive web space.
Firms that can use PPC benefit by getting to appear at the top of results pages, as you can see in the image above. But even getting into one of those ad slots can be difficult because of all of the brokers who use PPC. Small firms have to compete with IG, Saxo Bank, FXCM, OANDA, and other large, international brokerages. To compete, you need to be able to meet Google’s Ad Rank criteria, which includes the amount you bid as well as the quality of your ad and landing pages. Figuring out how to rank with an ad can be complicated.
Getting to the top of search results organically with SEO is also very difficult. Some ads will appear above your links no matter what you do.
One way to attract searchers’ attention is to create content that Google will choose to highlight directly on the SERP. This content, which appears below ads and above all other search results, is a featured snippet.
Google doesn’t disclose exactly how its algorithm selects content for featured snippets, but SEO experts recommend ways to optimize for featured snippets. In general, you need helpful content that answers people’s questions and that is formatted in an easy to understand way.
Without paid ads or a featured snippet position, it will be harder for you to increase your click-through-rate (CTR) and attract more web traffic. Regardless of whether you choose to primarily use PPC or SEO, getting to the top of the page will be a continual challenge in forex digital marketing.
The best SEO strategy for ranking high in SERPs and getting more people on your brokerage’s website is to create and optimize content for your site.
You need to have information on your website that would help answer any questions that a potential client might have about your services.
You can also use content marketing to get readers to your website. Content marketing involves producing content that your target audience would be interested in and then offering it to them for free. People are more likely to trust your brokerage and consider using your firm for investments if they’ve read content you’ve published in the past. Publishing a blog can help bring people directly to your site, and we have a list of potential forex blog topics to get you started. You can also use content marketing on social media sites and trading forums to help.
If you plan to rely on PPC to increase your web traffic, then you won’t need to generate as much content. Instead, you’ll need to focus on having good landing pages with content that matches the info shown in your ads.
The price of PPC digital advertising for forex can vary greatly depending on the keywords you choose and the locations you target.
Google Ads suggests bids between $4 and $21 for the phrase fx broker and bids between $17 and $38 for the phrase best forex broker in the United Kingdom. This means you could pay as much as $38 every time someone clicks on one of your ads when it appears in the SERP for best forex broker.
If you can create good content and promote it on social media yourself, then an SEO approach could save you money. However, if you need to hire a forex content marketer, SEO may cost as much as PPC.
Before choosing to focus on SEO or PPC consider how much content you can produce on your own and how much time you can invest. In the short term, it may be cheaper to use PPC because it will likely increase traffic and convert leads more quickly.
Time and traffic
The time it takes to see results is the starkest difference between PPC and SEO.
As soon as your keywords and bids are performing well in Google Ads, you will appear at the top of the SERPs and see an increase in traffic. However, these results will only last as long as you spend money on PPC.
Even if your forex content is great, it can take months for it to appear at the top of the organic results list if you rely on SEO. Over time, SEO is likely to provide more site traffic if your site has highly useful content. Content on your forex website will continue to bring visitors to your website long after you have paid for it to be created.
Most firms will get benefits from a mix of these two approaches. Both SEO and PPC can generate high-quality leads for forex brokers. It’s important to understand each one so that you can effectively promote your forex brokerage.
Once you have leads, you also need a way to make sure you follow-up with them and can convert them to active traders. Contact us to see how the CurrentDesk CRM can help.