the 4 p’s of marketing in the forex markets

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The 4 P’s of Marketing The 4 P’s of Marketing in the Forex Markets in the Forex Markets By Haris Constantinou By Haris Constantinou Forex Sales & Marketing Specialist Forex Sales & Marketing Specialist

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A Forex Marketers modern approach on the 4 P's of marketing. A study and presentation of the 4 basic ingredients for successful marketing plans in Forex Markets.

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Page 1: The 4 p’s of Marketing in the Forex Markets

The 4 P’s of Marketing in The 4 P’s of Marketing in the Forex Marketsthe Forex Markets

By Haris ConstantinouBy Haris Constantinou

Forex Sales & Marketing SpecialistForex Sales & Marketing Specialist

Page 2: The 4 p’s of Marketing in the Forex Markets

A Forex Markets marketing mix A Forex Markets marketing mix reviewreview

Page 3: The 4 p’s of Marketing in the Forex Markets

PRODUCTPRODUCT

• Basically when we talk about the Basically when we talk about the product in Forex markets we mean product in Forex markets we mean the different the different platformsplatforms available for available for the clients to trade Forex. On that the clients to trade Forex. On that respect, we have 3 basic categories respect, we have 3 basic categories of platform: Web, Desktop, Mobileof platform: Web, Desktop, Mobile

Page 4: The 4 p’s of Marketing in the Forex Markets

WEBWEB

• Web trading is utilized by brokers as a Web trading is utilized by brokers as a major option for their traders. Many brokers major option for their traders. Many brokers have their own web trading platform have their own web trading platform however most brokers utilize MetaTrader however most brokers utilize MetaTrader web. The web trading platforms are mostly web. The web trading platforms are mostly used by novice to intermediate level used by novice to intermediate level traders. All brokers try to create new traders. All brokers try to create new features and benefits that allow them to features and benefits that allow them to differentiate themselves with other brands.differentiate themselves with other brands.

Page 5: The 4 p’s of Marketing in the Forex Markets

DesktopDesktop

• Desktop trading is a very wide used mechanism Desktop trading is a very wide used mechanism to trade Forex and almost every broker has a to trade Forex and almost every broker has a version of desktop trading. The leader in this version of desktop trading. The leader in this market is MetaTrader and is known as a must for market is MetaTrader and is known as a must for any Forex broker to have within their lineup of any Forex broker to have within their lineup of trading products. Some brokers have their own trading products. Some brokers have their own versions of desktop trading platforms however versions of desktop trading platforms however none as of yet have made anything to rival the none as of yet have made anything to rival the superior MetaTrader trading platform. The superior MetaTrader trading platform. The desktop trading product is utilized mostly by desktop trading product is utilized mostly by intermediate to advanced level traders and has intermediate to advanced level traders and has many advanced features.many advanced features.

Page 6: The 4 p’s of Marketing in the Forex Markets

MobileMobile

• Mobile trading is the newest of the trading Mobile trading is the newest of the trading platforms and is becoming more popular each platforms and is becoming more popular each day for traders with Smartphone's on the move. day for traders with Smartphone's on the move. The great thing about Mobile trading is it allows The great thing about Mobile trading is it allows the user to trade on the go wherever they are the user to trade on the go wherever they are providing they have an internet connection. The providing they have an internet connection. The trading offered is normally basic however some trading offered is normally basic however some brokers offer very feature rich mobile trading brokers offer very feature rich mobile trading platforms. Some brokers offer separate platforms. Some brokers offer separate applications for different phone brands and some applications for different phone brands and some smart brokers utilize a web based application that smart brokers utilize a web based application that all Smartphone's with internet can utilize.all Smartphone's with internet can utilize.

Page 7: The 4 p’s of Marketing in the Forex Markets

PRICEPRICE

• What is the Price in trading Forex? What is the Price in trading Forex? Basically, is the Basically, is the spreadspread and and initial initial depositdeposit values of each broker. values of each broker.

Spreadsfrom 1 pip

Spreadsfrom 0.1 pip

Spreadsfrom 0.5 pip

Accounts from€/$200

Accounts from€/$500

Accounts from€/$250

Page 8: The 4 p’s of Marketing in the Forex Markets

Spread Spread

• The amount of pips between the bidding price and The amount of pips between the bidding price and the asking price is called the spread. The spread is the asking price is called the spread. The spread is what Forex brokers use to make money on what Forex brokers use to make money on every Forex trade placed through their network. every Forex trade placed through their network. For example, the Forex broker may be paying a For example, the Forex broker may be paying a price of 1.3600 for buying or selling. The broker will price of 1.3600 for buying or selling. The broker will then allow you to buy the currency for 1.3601 or then allow you to buy the currency for 1.3601 or sell it for 1.3599. The spread always stays around sell it for 1.3599. The spread always stays around the actual price that the Forex broker is paying. So the actual price that the Forex broker is paying. So when you buy, you get one end of the spread and when you buy, you get one end of the spread and when you sell you get the other end of it, and vice when you sell you get the other end of it, and vice versa. By the time you close your trade, you will versa. By the time you close your trade, you will have always paid the spread. The spread range have always paid the spread. The spread range can be anywhere from 0.3 to 5 on the EUR/USDcan be anywhere from 0.3 to 5 on the EUR/USD

Spreadsfrom 1 pip

Page 9: The 4 p’s of Marketing in the Forex Markets

Initial DepositInitial Deposit

• Every broker has an initial deposit. Some Every broker has an initial deposit. Some brokers allow deposits from $1 all the way up brokers allow deposits from $1 all the way up to initial deposits of $50,000 for more to initial deposits of $50,000 for more institutional styled brokers. The initial deposit institutional styled brokers. The initial deposit will either lower or raise the entry barrier for will either lower or raise the entry barrier for clientele and usually the higher the initial clientele and usually the higher the initial deposit the harder it is to get clients and the deposit the harder it is to get clients and the less clients a broker will receive. This does less clients a broker will receive. This does not mean that it is not a good strategy it just not mean that it is not a good strategy it just depends on the business model and depends on the business model and objectives of the Forex broker.objectives of the Forex broker.

Accounts from€/$200

Page 10: The 4 p’s of Marketing in the Forex Markets

PLACEPLACE

• Basically there are two places from Basically there are two places from where you can attract traders, from where you can attract traders, from the the onlineonline and the and the offlineoffline segments:segments:

Page 13: The 4 p’s of Marketing in the Forex Markets

Search – PPC (Pay Per Click)Search – PPC (Pay Per Click)

• Paid search Paid search marketing is the marketing is the process of gaining process of gaining traffic by purchasing traffic by purchasing ads on search ads on search engines. It is engines. It is sometimes referred to sometimes referred to as PPC (pay-per-click) as PPC (pay-per-click) marketing, because marketing, because most search ads are most search ads are sold on a PPC basis.sold on a PPC basis.

Page 14: The 4 p’s of Marketing in the Forex Markets

SEO (Search Engine SEO (Search Engine Optimization)Optimization)• Search engine optimization (SEO) is Search engine optimization (SEO) is

the process of improving the visibility the process of improving the visibility of a website or a web page in a of a website or a web page in a search engine's "natural," or un-paid search engine's "natural," or un-paid ("organic" or "algorithmic"), search ("organic" or "algorithmic"), search results.results.

Page 15: The 4 p’s of Marketing in the Forex Markets

DisplayDisplay

• Display advertising is a form of Display advertising is a form of online advertising where an online advertising where an advertiser's message is shown on a advertiser's message is shown on a destination web page, generally set destination web page, generally set off in a box at the top or bottom or to off in a box at the top or bottom or to one side of the content of the page.one side of the content of the page.

Page 16: The 4 p’s of Marketing in the Forex Markets

SocialSocial

• Social Media Marketing is a process Social Media Marketing is a process for building a business through many for building a business through many different social media outlets.different social media outlets.

Page 17: The 4 p’s of Marketing in the Forex Markets

Affiliates, IBsAffiliates, IBs

• Affiliate marketing is defined when a Affiliate marketing is defined when a third party advertises products or third party advertises products or services on behalf of a brand in services on behalf of a brand in return for an agreed commission for return for an agreed commission for a sale or lead.a sale or lead.

Page 18: The 4 p’s of Marketing in the Forex Markets

E-mailE-mail

• E-mail marketing is a form of direct E-mail marketing is a form of direct marketing which uses electronic mail marketing which uses electronic mail as a means of communicating as a means of communicating commercial or fundraising messages.commercial or fundraising messages.

Page 19: The 4 p’s of Marketing in the Forex Markets

ViralViral

• Viral marketing refers to techniques that Viral marketing refers to techniques that use pre-existing social networking services use pre-existing social networking services and other technologies to try to produce and other technologies to try to produce increases in brand awareness through self-increases in brand awareness through self-replicating viral processes, analogous to replicating viral processes, analogous to the spread of viruses or computer viruses. the spread of viruses or computer viruses. Viral marketing may take the form of video Viral marketing may take the form of video clips, interactive clips, interactive FlashFlash images, text images, text messages, messages, emailemail messages, or web pages. messages, or web pages.

Page 20: The 4 p’s of Marketing in the Forex Markets

ForumsForums

• Forum marketing is a method of Forum marketing is a method of utilizing popular forums within the utilizing popular forums within the Forex industry to rebuttal any Forex industry to rebuttal any disputes about your brand and disputes about your brand and communicates within the forums for communicates within the forums for any feedback or questions.any feedback or questions.

Page 21: The 4 p’s of Marketing in the Forex Markets

Public RelationsPublic Relations

• Public Relations are strategic Public Relations are strategic communication processes that build communication processes that build mutually beneficial relationships mutually beneficial relationships between organizations and their between organizations and their publics.publics.

Page 22: The 4 p’s of Marketing in the Forex Markets

TVTV

• A commercial advertisement on A commercial advertisement on television (usually abbreviated to TV television (usually abbreviated to TV commercial, advert, ad, or ad-film) is commercial, advert, ad, or ad-film) is a span of television programming a span of television programming produced and paid for by a Forex produced and paid for by a Forex organization, which conveys a organization, which conveys a message, typically to market a message, typically to market a product or service. product or service.

Page 23: The 4 p’s of Marketing in the Forex Markets

Newspapers & MagazinesNewspapers & Magazines

• Financial newspapers are a great Financial newspapers are a great way to attract an audience that is way to attract an audience that is focused and prefer traditional media.focused and prefer traditional media.

Page 24: The 4 p’s of Marketing in the Forex Markets

BillboardsBillboards

• Billboard advertising is costly Billboard advertising is costly however it can get a great message however it can get a great message across within a very local area. This across within a very local area. This is great for very local based is great for very local based advertising.advertising.

Page 25: The 4 p’s of Marketing in the Forex Markets

SeminarsSeminars

• Forex based seminars are a great Forex based seminars are a great way to educate and communicate way to educate and communicate with clients on a more personal level. with clients on a more personal level. Sometimes, online methods of Sometimes, online methods of seminars are presented for reaching seminars are presented for reaching far away and distant clients (the so far away and distant clients (the so called webinars).called webinars).

Page 26: The 4 p’s of Marketing in the Forex Markets

PROMOTIONSPROMOTIONS

• Any form of banner advertisements that can Any form of banner advertisements that can lead the clients to the Forex web page for lead the clients to the Forex web page for registration purposes and possible follow-up registration purposes and possible follow-up (conversion). Banners come in different (conversion). Banners come in different sizes and forms with “catchy” messages for sizes and forms with “catchy” messages for attracting the attention of prospect clients. attracting the attention of prospect clients. The banners could promote a service, a The banners could promote a service, a special campaign, an event, a special offer, special campaign, an event, a special offer, and discount/bonus promotions.and discount/bonus promotions.

Page 27: The 4 p’s of Marketing in the Forex Markets

Conclusion Conclusion

• Definitely, all the above are just an Definitely, all the above are just an example of how your Forex example of how your Forex marketing mix could be formed and marketing mix could be formed and it all depends on the specific needs it all depends on the specific needs of the targeted market, the Forex of the targeted market, the Forex broker offerings, and the broker offerings, and the online/offline media availability in online/offline media availability in each region. each region.

Page 28: The 4 p’s of Marketing in the Forex Markets

Please share Please share

• More marketing feedback and examples of More marketing feedback and examples of sales methods specifically tailored for the sales methods specifically tailored for the Forex industry will follow in future Forex industry will follow in future publications.publications.

• Meanwhile, feel free to share or present your Meanwhile, feel free to share or present your views in the above subject for future views in the above subject for future reference.reference.

• Alternatively, you may contact me at: Alternatively, you may contact me at: [email protected]@gmail.com

• http://cy.linkedin.com/pub/haris-constantinou/http://cy.linkedin.com/pub/haris-constantinou/34/948/914/34/948/914/