Forex Reputation Management – How to Build A Better Reputation

The finance sector is extremely competitive and when it comes to forex reputation management you need to care. There are some bad players in the industry, there’s no doubt about it, so improving the way you appear to potential clients should be a top priority. Especially in a tech-centric world where a single bad review can have devastating effects on a business.

Standing out from the crowd for all the right reasons takes time and effort. Your audience needs to see that you’re a well-rounded broker with a transparent, honest and compliant business model. So here’s how to build a better forex reputation.

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#1 Monitor Review Sites

Forex review sites like Forex Peace Army reveal the good, bad and often ugly truth of the FX sector. Traders love to talk (or vent) especially if they’ve had a bad experience. So it’s a good idea to monitor and answer all reviews. Not only will this give you the chance to see how you’re being portrayed online but it will also ensure that your voice is heard. Remember, traders can be very unforgiving, especially online, so it is definitely important to be aware of what’s going on around you.

Top tip: Take great care when constructing responses to negative comments. All replies should be polite, professional and most of all compliant. Never get into the finer details of a complaint in full view of everyone (especially if it involves private information regarding a client). Instead, explain that you’ve acknowledged the issue and will do all you can to rectify it. This will show other site users that you care enough to take action while giving you the chance to continue the discussion in private.

#2 Join in Forum Discussions

When it comes to forex, popular forums are loaded with interesting discussions, with many people asking questions. If you know the answers or feel you have a valuable point to add to a thread, this is your time to shine. Be engaging, be interesting, be informative, but avoid being overly promotional or like you’re flaunting your knowledge just to get business. Okay, so you might be, but there’s a way of doing it.

Top tip:  Stick to the facts as people can’t argue with facts. Provide relevant information and always cross-check your sources before publishing anything – just so you don’t make an embarrassing error. Where possible, it’s also a good idea to answer questions with examples regarding a particular subject as this helps to clarify more difficult concepts.

#3 Produce Quality Content

Most traders search multiple brokers and finance companies before deciding who they like the most. They will be assessing forex reputation, credibility, relevance and of course the personality of your brand. This means that your online content has to be absolutely ‘on point.’ If it’s not, you run the risk of being outdone by your competition. So what can you do to get noticed amidst an already overcrowded sector?

  • Optimise your website for SEO using both short and long-tail keywords
  • Start a blog and pump out high-quality content as this will improve your SEO ranking and ensure people see your well crafted forex reputation when they search for you.
  • Write content for PR and post it on the relevant channels. A multi-channel approach is a great way to create a buzz and increase brand awareness. Remember to have a PR strategy for all new campaigns, whether you’re promoting a trading platform update or attending an industry-related event.

Top tip: Be consistent with your content creation strategy. Target keywords relevant to your company and keep producing fresh articles, blogs and web updates. Google loves a good old update and if you put the work in, your content is likely to get bumped up the search engine results page.

Also remember that many brokers have no online reputation at all and this is largely down to a lack of information. Potential clients may see this as a sign that you’re either not legit or don’t care enough to promote your services in an informative way. Something a content strategy can address.

#4 Be More Active on Social Media

There are many different social media sites and over 2.5 billion people across the world accessing social media from a mobile device. In fact, 95% of online adults aged 18-34 are most likely to follow a brand via social networking. And 71% of consumers are prepared to recommend a company if they’ve had a positive experience.

So, developing a strong social media presence is a must to improve your forex reputation. Being ‘active’ doesn’t simply mean posting or tweeting now and again. It means engaging with your target audience, chatting with influencers and replying to comments. Things you may consider include:

  • Competitions and giveaways
  • Easy-to-share infographics
  • Informative explainer videos
  • Go-live question and answer sessions
  • Go-live interviews with company bosses

Top tip: Know how to deal with bad PR. If someone makes a negative comment on one of your posts, don’t ignore it and certainly don’t delete it. Instead, address the issue head on. Not only does this show you’re on the ball but it also shows you care enough to respond in a professional and helpful way.

To avoid a social media PR disaster, always ensure you have the right people managing each account. All social media employees should fully understand all the compliance rules related to the forex sector and be able to respond to negativity effectively.

#5 Embrace Authenticity

Whatever you do, don’t become the fake news you hate! The FX sector has bad players, but in order to be seen as a genuine company you must be authentic in your approach. That means only publishing real reviews and testimonials generated by real consumers – not ones you’ve knocked up to look good. Many sites monitor IPs. So if all the ‘good reviews’ are coming from internal sources you could be left shamed and even blocked.

Top tip: Don’t be obsessed with perfection. Of course you want people to see your five-star ‘excellent’ reviews – and if you get them then be sure to share them on social media. But if everything ever written about you online is 100% awesome, it looks a bit suspicious. In other words, it’s absolutely fine to let a few ‘OK-ish’ reviews and comments through the net as well as the awesome stuff. As discussed it’s also fine to leave negative posts on your blogs and social channels. Just respond and make it clear what can be done about an issue and how you’ll improve going forward.

#6 Be Prepared to Pay for Good PR

Good PR doesn’t come cheap. If it does, you might be appearing on sites with very little traffic which is essentially a waste of time. Be prepared to increase your budget as many decent FX sites will charge to write or publish reviews.

Top tip: Ensure all content contains company backlinks as well as essential keywords that help market your brand. The content should also be high quality and something people from the sector will want to read. Salesy or spammy content is likely to get rejected or ignored.

Need help with your content and social media management? Keen to improve your PR and give your online reputation a much-needed boost? Talk to the Contentworks crew today. As a leading content marketing agency we know what’s required to improve your forex reputation.

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