Forex brokers rely heavily on affiliates to acquire new clients. And in turn, affiliates benefit through commissions or performance-based rewards. Leaving aside the obvious check boxes of paying affiliates well and promptly, what else motivates affiliates to bring more traders? Let’s look at how forex brokers can support their affiliates with marketing.
Stats For Forex Affiliate Marketing
- The affiliate marketing industry is expected to grow to $15.7 billion by 2025.
- Affiliate marketers’ monthly income varies significantly by niche, with finance ($9,296) and technology ($7,418) among the highest earners.
- SEO is a leading traffic source for 78.3% of affiliate marketers, followed by organic social media marketing (35.5%) and email marketing (22.8%).
So how can you transform your affiliates into Super Affiliates? Here are our top tips as a leading financial services marketing agency.
#1 Providing High-Quality Marketing Materials
One of the best ways brokers can support their affiliates is by offering a comprehensive suite of ready-made marketing materials. These include banners, social media creatives, partner logos, landing pages, email templates, and ready to post blogs. One thing we’ve learnt in the forex space is that affiliates will create their own version if you don’t provide it. That can mean noncompliant content and poor graphics that misrepresent your brand. Add fresh high marketing materials weekly to ensure your affiliates have new and engaging content to post. Top brokers utilise an ad server for this purpose too. An ad server acts as a centralised platform for ad management and decides instantly which ads are best suited (and most recent) to show on an affiliate’s website or app.
TIP – Forex brokers need to provide marketing materials tailored to various regions and languages. This ensures affiliates can target local audiences more effectively and comply with local regulations.
Check out some forex educational examples on our portfolio.
#2 Providing Access to Data and Analytics Tools
Providing affiliates with access to advanced analytics tools is crucial and yet many forex brokers just aren’t doing it. Brokers can empower their affiliates by offering detailed tracking systems that allow them to monitor clicks, conversions, customer behaviour, and overall performance in real-time.
TIP – Add a personal affiliate manager to go through this data and offer training and mentoring sessions. This will appeal to professional affiliates and help them to optimise their strategy.
#3 Nurture Affiliates As VIPs
It’s competitive out there and forex brokers are vying for the top forex affiliates. Being complacent can cost you your top performers so nurture them as VIPs. This means taking the time to email your affiliates with top marketing tips, congratulatory messages and exclusive “hot off the press” company news. Invite them to your events and offer them free tickets to expos you’re attending. Set up a Facebook group for them to ask questions and discuss challenges. Treat them to dinner and acknowledge great performance. Affiliate marketers earning over $10k per month are more likely to network and attend conferences.
TIP – Be consistent when communicating with your affiliates. If they are left out in the cold for too long, they might go elsewhere.
#4 Educational Support and Training Programs
Not all affiliates are forex trading experts. For them to market your broker’s services effectively, you need to offer educational support through training programs, webinars, or detailed content about trading fundamentals, regulations, and broker-specific tools.
By ensuring your affiliates understand forex trading, you can help them craft better marketing messages that resonate with potential traders. Educational materials can also include training on how to use marketing tools, generate leads, and tips for different platforms like Google Ads, community building, social media, or email marketing.
TIP – We recommend regular compliance update training for affiliates. Affiliates securing traders under false pretences can land brokers with a big fine.
#5 Co-Branding Opportunities
Co-branding is an effective way to leverage the strengths of the broker and the affiliate. By allowing affiliates to use your logo, colours, and other brand elements, you can help them build credibility while maintaining a consistent brand image. It is down to forex brokers to organise and create customised marketing campaigns that align with the local audience of affiliates. Ideally, your affiliate marketing hub will have separate marketing materials for your key regions such as Africa, LATAM and Singapore. Plus, it might need translated content for different affiliates to comprehend or post instantly. We say it all the time, but one size does not fit all when it comes to global forex marketing.
TIP – Collab with top-performing affiliates on special campaigns, videos, events, or promotions. But be sure that your affiliate/broker contracts are watertight before you put affiliates into the spotlight. That’s exactly how other brokers will find them!
#6 Special Promotions and Bonuses
Brokers can run special promotions and bonuses that affiliates can use to attract traders. Time-sensitive bonuses or lower spreads, give affiliates an edge when promoting your broker, as potential clients are more likely to sign up during promotions. Plus, for traders there’s a healthy dose of FOMO to get them signed up and trading.
69% of millennials experience FOMO regularly especially whilst on mobile devices.
TIP – Make sure your affiliates are the first to know about new promotions, giving them time to stay ahead of the competition. We’ve seen plenty of instances when this has not happened, and it’s a missed opportunity.
#7 Strong Support for Localised Marketing
Forex is a global market, and what works in one region may not work in another. Affiliates often target audiences in specific geographic areas and need localised marketing support. This might include translating marketing materials, offering region-specific promotions, local events, regional incentives or entirely unique campaign messaging.
TIP – Download our free eBook on emerging regions for forex brokers. It will show you what’s hot and how to target within these regions.
Supporting forex affiliates with effective marketing resources is key for forex brokers to grow their client base through partnerships. Contentworks Agency works with leading brokers to strategise, plan and create winning affiliate marketing materials. Want to attract high quality affiliates to your brokerage? We can help you there too.
Book a free call with our team to improve your forex affiliate marketing.