The FX (forex) industry averages a daily turnover of $5.09 trillion. Yes really, it’s that huge. There is therefore a natural assumption that forex brokers have vast sums of money to invest in content marketing. Whilst this is occasionally true, in most cases, brokers are accountable to their CEO, shareholders and financial VPs when it comes to spend and can therefore be reluctant to invest in “unproven” techniques.
In this article, Contentworks, the content marketing agency specialising in providing smart managed solutions for the finance industry, puts the spotlight on the FX industry. You want to work with us and we want to work with you so how do we convince your boss to invest in content marketing?
Content marketing in the forex industry is one of the fastest moving in the world. News is breaking and the bull and bear markets are battling for top position. This means that brokers have the constant challenge of keeping up with the latest news, events, regulations and market movements. These are some of the daily content marketing activities that a broker may need to perform:
- Blog updates
- Social media management
- Daily emails
- Technical analysis
- Fundamental analysis
- Sentimental analysis
- Landing pages
- Campaign text
- Website text
Marketers faced with these tasks desperately need to find a way to persuade bosses to get behind the concept of content marketing before things spiral out of control. We can tell you from experience that nagging and complaining doesn’t work.
If you find yourself in this position, here are three proven ways to get executive buy-in for content marketing:
#1 Explain How Content Marketing Can Help Reach Business Goals
What business goals does your brokerage need to achieve and how can content marketing help you to meet them? Content marketing is not a quick fix so be careful not to set false expectations. In addition to increased revenue, common content marketing goals include:
- Increased brand awareness through PR and 3rd party guest posts
- Gaining thought leadership– via Twitter, Linkedin and articles
- Higher retention of traders – through social media customer support and email marketing
- Improved conversion rates – from highly convertible campaigns
- Enhanced customer service – through quick social media responses
- Better reputation management – through review and testimonial management
- More web traffic – More web hits through offsite content marketing
Identify your goals and KPIs and draw direct parallels with these and the content marketing solutions available. If you need a good case study to prove your points, then why not check out the following:
- IBM creates Big Data & Analytics microsite
- InsideOut implements content-first strategy
- PTC creates Creo microsite
#2 Handle Objections with Solutions
So, you identified where content marketing can help your company to meet its goals. Great. That’s not the end though, because your boss may now raise objections to your pitch which you will need to handle. At Contentworks, we understand that CEOs purchasing a Rockstar content marketing solution will undoubtedly need reassurance. So, here’s how it goes: “We don’t have the money.” This is the main objection your boss will have when it comes to increasing content marketing spend. Your boss will want details so you need to be ready with rational and measured answers.
- Savings with Repurposing Content: Discuss ways to repurpose your content. Show your boss how evergreen content with the right management can save money.
- Internal resources: Think about the current staff you have and whether they can handle the volume of work required to hit your goals. Do you have a social media manager, a content writer and an analytical writer? The combined cost of these staff would be more than our solution. You will also save on in-house employee costs such as sick days and vacations. Your boss will love that bit!
- Can you afford not to? The top FX players in the world are using content marketing- can your brand afford not to compete with them? The answer is to get an instant outsourced solution from Contentworks.
“FX doesn’t need content marketing”
Many FX bosses think they don’t need content marketing. Sometimes it’s because they don’t understand it and other times because they are already spending thousands on Google ads. Here are some stats you definitely need to present to “That Boss”…
- 80% of business decision makers prefer to get company information in a series of articles versus an advertisement.
- 200 million+ people now use ad blockers, including about 16% of the US population.
- CMOs at the largest technology companies report that building out content marketing as an organizational competency is the second most important initiative, only behind measuring ROI.
- 95% of B2B buyers are willing to consider vendor-related content as trustworthy.
- 74.2% of companies indicate that content marketing is increasing their marketing teams’ lead quality and quantity.
Enough stats? You’re welcome.
#3 Don’t Be Afraid to Ask
So, you crafted your pitch, you explained your proposal and you talked about your KPIs and metrics. Now you need to have confidence in the content marketing solutions you have offered and ask for them. At Contentworks we understand the process of onboarding agencies and we are happy to speak directly with decision makers to emphasise your needs.
Here’s a step by step guide to asking for a content marketing solution
- Hey boss, I bought you a coffee
- Let’s get the Rockstar solution from Contentworks
So now you know how to convince your FX boss you need content marketing. Need more info on how to get the perfect content solution? Email the Contentworks team now on firstname.lastname@example.org
- DemandGen Report – 2016 Content Preferences Survey