Forex Broker Solutions – Optimizing Your Client Acquisition

Your forex broker solution determines more than your trading environment and products. It also plays a significant part in your client acquisition costs.

Success as a forex broker depends on a steady stream of new traders and re-deposits from existing clients.

Client acquisition costs have soared over the last few years, and much of the increase has been self-inflicted.

Take Google ads, for example. Google uses a metric called “Quality Score” to measure the quality of your ad. Quality Score uses a scale of 1-10, with one being the lowest and 10 being the highest.

An ad with a perfect Quality Score of 10 see a discount of 50% on the cost per click. An ad with a low Quality Score could see costs rise by 200%, 300%, or even 400% of the base price.

Quality Score affects various campaign metrics, including Ad Rank and the effective Cost Per Click (CPC).

Ad Rank: Determines where your ads appear on the search pages. The higher your Ad Rank, the higher your ads appear, meaning more clicks and conversions.

Effective CPC: Google CPC isn’t a fixed rate. The effective CPC you pay for your ads is based on several parameters, including your Quality Score. The lower your quality score, the higher your cost per click.

An ad with a perfect Quality Score of 10 could see a 50% discount on the cost per click. An ad with a low Quality Score could see costs rise by 200%, 300%, or even 400% of the base price.

The information to improve quality scores is easy to find. Unfortunately, many brokers preferred paying more for their ads than optimizing them.

The effect of this has been rising marketing and acquisition costs, taking a big bite out of your ROI.

Forex broker solutions need to be more than a collection of management apps. Your technology needs to optimize client acquisition and lower FTD and retention costs.

Optimizing your marketing starts with your CRM. Your CRM is the starting point for all your marketing campaigns. Essential forex CRM features should include:

• Simplified onboarding
• Optimized KYC procedures
• A variety of payment processors
• Lead and client follow-up
• Lead Status
• Client trading history
• Client deposit history
• Automated emails
• Detailed reporting

The PLUGIT forex brokerage solution includes our forex-optimized CRM. We’ve taken over a decade of experience in the fintech markets and created a CRM that meets the needs of brokers of all sizes, from startups to established operations.

As we’ve already mentioned in this article, marketing costs make up a large percentage of any forex broker’s overall costs.

Keeping these costs down is crucial. You don’t want to reduce the effectiveness of your marketing campaigns by reducing your budgets too much, but there are cost-effective methods for finding new clients outside of direct paid marketing.

These include:

• Partner Programs
• Bonus Offers

PLUGIT’s all-in-one forex broker solution, the YOONIT suite, includes intelligent modules for these functions.

Our Affiliate and IB Management module makes running your partner programs a breeze. It has all the features you need to create and manage highly profitable affiliate and IB offers:

• Multiple offer types
• Flexible payout schemes
• Secure payout options
• Deep tracking
• Comprehensive reporting

The features in our partner management module help you develop long-lasting and profitable relationships with affiliates and IBs. This lowers your acquisition costs and increases your re-deposits and trade volumes. IBs, in particular, come with an existing portfolio of clients and can increase your business’s exposure in completely new geos.

Bonus offers and promotions have always been part of retail forex. However, over the last few years, regulation changes, particularly in the EU under ESMA, have meant that promotions are no longer allowed in many jurisdictions.

Expansion into new regions, however, means promotion offers are back on the menu for many brokers!

The PLUGIT Bonus Management solution lets you create multiple bonus and promotion offers to attract new traders and retain existing clients.

We’ve included advanced bonus abuse protection rules, allowing you to create an array of flexible promotion types while safeguarding you from potential abuse.

Everything in our Bonus Management solution is automated, giving you the ultimate flexibility when creating and running profitable bonus and promotion offers.

• Attract new clients and retain existing traders
• Optimize your promotions with multiple configuration options
• Get at-a-glance reports on all your promotions
• Track and monitor in real-time

YOONIT is a multi award-winning all-in-one forex broker solution. Since 2012 we’ve helped over one hundred of the biggest brokers in the world manage and optimize their operations.

Our products come work seamlessly on MT4 and MT5 and can be deployed in a matter of days, meaning your brokerage can be up and running without any of the expensive delays typically associated with other broker solutions.

Contact us for a no-obligation demo of the power of the PLUGIT approach and we’ll show you what we can do for your business!