Last monthFinancial Partners ExpoandiGB Affiliatehosted the BAC affiliate conference on October 22-25, and this year the B stood for Berlin. The show had an impressive turnout of affiliates, IBs and service providers with both big players and new exhibiting.
As an overall observation, we noticed many more exhibitors related to financial products as opposed to previous years with more of a focus on gaming, and an increase in legal service providers that attended, which could be attributed to the growing demand for regulation in the online financial and gaming industries.
With so many of the same big name exhibitors, it can be difficult for new players to have an especially strong presence. However this was not the case for the new and highly promising binary options broker10Markets, who brought nothing but buzz with them to Berlin. Whether you were riding in their Lamborghinis, meeting their friendly team at their booth or dancing at their wild party – everyone was talking about 10Markets!
As 70% of the attendees were affiliate based, most of the conference sessions presented by industry experts were focused on how affiliates can increase revenue, take business to the next level and the evolution of affiliation to brokerage. For those of you who missed it, B2Binary covered some of the sessions we thought you would be most interested in:
Take your affiliation business to the next level: Transitioning from affiliation to brokerage
Oren Abiri, Head of Business Development, Tech Financials
With a background in online marketing and now Head of Business Development atTech Financials, Oren Abiridiscussed the potential for affiliates transitioning to brokerage, adding the value of his experience from both perspectives.
From an early stage in the industry, the affiliate held the traffic and control. As affiliates started to optimize the traffic for better performance, they understood what traders are really looking for. In time affiliates have increased this control and started considering opening their own brokerages. Oren described this as the evolution of affiliate to broker, the way many big names got started and the driving incentive for many upcoming brokers today.
He drilled down a bit more on the transition, weighing out the major pros and cons of moving from affiliate to brokerage. One on side, it’s easy to get started, there’s increased potential profit, more control over the sales and no need to deal with other brokers. But on the other side is the larger capital requirement, potential loss and lack of sales and operational experience.
So once you have overcome your list of “cons” and get started, how do you know if you’re on the right track to making money? We thought Oren was spot on with his recommended checklist:
Have a partner – No one can do it alone
Capital – Opening brokerage requires capital, it is not a time to cut corners
Experts in each division – to overcome lack of operational experience, you need to ensure you have filled in the gaps you may lack
Experienced VP Sales – Having a strong and hungry sales team can be the difference in the success of your brokerage. It is recommended to strengthen communication between your sales and marketing to be in sync on open campaigns and lead sources.
Our conclusion…If you’re an affiliate considering your own brokerage, do yourself a favor now and follow Oren’s advice. Find a strong and reliable partner who can bear the costs and responsibilities with you. Educate yourself on the costs and get realistic on your budget – be prepared to spend money to make money. Identify your operational strengths and bring in experts for the rest. Invest in the training and salary of your sales team –sometimes the leads are only as good as the sales person.
Leads unconventionally: Exposing the 10 most efficient ways to generate leads
Ran Cohen, Founder & CEO, Traders Education
Talking about lead generation never gets old forTraders EducationFounder & CEORan Cohen. On day 2 Ran’s session uncovered the 10 most efficient ways of generating leads to stay current and successful in today’s competitive industry.
Many of you may associate the term KYC with compliance and banking procedures. However according to Ran, Know Your Client is about creating confidence in the end-user and using the right methods for your audience. He detailed the 10 ways in order of efficiency:
10. Data – You can buy data for a very low cost, sometimes even under $1. But keep in mind the cost is reflected in the quality and relevant of these leads.
9. BOTS – These are software applications that run automated tasks on the Internet at a much higher rate than humanly possible and can show performance of traders.
8. Call center filter – Using mass amounts of data, call centers act as a filter to produce pre-qualified leads.
7. Mobile – Generating leads through mobile campaigns and applications
6. Email marketing – If you are doing email marketing you need to monitor the performance and stats. Make sure you are working with an advanced and reliable email-marketing platform
3. EBooks – The lifetime of educated traders is always greater
2. Webinars – Check out Traders Education’s new feature for brokers to broadcast live directly on their website.
1. Traders Education – Offering the most comprehensive and creative financial education solution for both brokers and affiliates
So what can we learn from Ran’s expertise? It is becoming more challenging and expensive to generate leads, but most times you get what you pay for. Our recommendation is to invest in your brand, which means investing in your marketing.
Need an expert opinion?
Whether you are an affiliate considering your own brokerage or a broker searching for unique traffic sources, B2Binary has valuable advice for you!
It’s expo season, and this time everyone gathers at The Grand Resort in Limassol for the iFXEXPO hosted Financial B2B Expo, May 26-28.
Whether you’re coming to learn from the industry, network or exhibit – the iFXEXPO Cyprus is not a show to be missed! This year the event will host 80 exhibitors, 22 sessions, 30 speaks and over 2,000 attendees.
B2Binary is here and wants to meet you! Contact us at firstname.lastname@example.org to schedule a meeting, coffee or drink See you there.