2021 is a year of new opportunities, and if you have decided to take the leap this year and start your very own FX brokerage, this article is for you. In today’s article, we will share with you the key steps and strategies you need to undertake in order to create a memorable FX brand along with tips and tricks on how to get your very first customers.
Let’s get started.
1. Find Your USP
One of the first and most important steps you need to take is to understand your brand’s USP. As someone who has just started their company, you must be well aware of the competitors you have. And when a significant amount of competition is present, you ought to ask yourself, what is different about my business, which will intrigue my customers to choose me over my competitors.
In the marketing industry, your brand’s reason is often referred to as the USP or Unique Selling Proposition, or in other words a single or multiple aspects of your business that will help you stand out from the competition. In your case, this might be your customer support or the expert research team you have within your company.
Whatever it might be, it is important that you identify it early in your business and place it at the core of your brand-building efforts.
2. Create Your Logo
The first impression your potential customers will acquire about your business will come from your brand’s logo, and thus this is an integral part of your brand building strategy. In today’s modern business environment, customers are exposed to thousands of brands every day, and thus you need to make sure that not only is your brand eye-catching and iconic, but it also captures the essence and message of your brand clearly.
If your budget permits, get a professional designer who can bring your brand to life or if you are just starting out, you can always rely on free resources like Canva to create your initial design.
Along with this, keep in mind that the colors you select for your brand logo will play a significant part in determining how your customers feel about your brand, and thus you should read up on color psychology in logo design beforehand.
3. Create a Brand Awareness Campaign
Once you have finalized your brand’s USP and logo, it is now time to set up a brand awareness campaign, such that you can get the word out about your company. A great way to do this is through professional networks like LinkedIn, where there are dedicated groups for FX traders and also customers who are actively seeking out their services.
At this stage, you need to design a campaign that is bold and attractive, such that you can draw upon the attention of your target audience and convert them into leads in the future. Along with this, a great point to keep in mind is the fact that instead of focusing on the core product you offer, focus on the pain points of your customers that your product will solve.
Diverting attention from what you can offer to how your customers can benefit from your offering can not only change the narrative of your brand awareness campaign in your favor but also make sure that customers are more likely to approach you rather than your competitors in the future.
4. Double Down on Social Media Presence
Last but not least, create a presence for your brand on popular social media websites. Starting from consumer-centric ones like Instagram all the way to business-centric ones like LinkedIn, you need to make sure that you have a well-tailored social presence. Depending on the social media website you choose, research on the target audience you want to attract and subsequently start creating and posting valuable content for your audience.
Having a well-tailored presence on social media will not only help you engage with your customers better but also give them a space to interact with your content, learn about offerings, all of which will be contributing factors to your business’s success in the long term.
However, when you are just starting out on social media, it is immensely important to properly research on the platform and learn about the type of content that works best for your purpose. For example, if you want to build a loyal following on Instagram, the new Reels feature might be best for you, whereas if you want to execute the same on LinkedIn, posting in-depth articles on expert topics might work better.
Creating a memorable brand for your FX business is not only immensely important to attract new customers, but also to craft and foster a brand identity for the long term. Because at the end of the day, succeeding in the FX industry is not an overnight game, but one that requires consistency and hard work for the long run.
All the best.