Want a career in forex trading but not good at trading? A career in forex doesn't always have to be a trader! You can try to be part of the forex marketing team at a futures brokerage company. What are the duties of forex marketing? Here's the review.

Table of Contents

What is forex marketing?

In simple terms, marketing is the process of introducing a company's products or services so that they are known by the wider community. This effort can be carried out with several activities ranging from promotion, distribution, sales, to product development strategies. Well, forex marketing is all activities carried out by someone who works at a forex broker to introduce and market futures trading products including forex to potential customers.

This marketing activity can be carried out with various strategies and methods, including digitally or better known as digital marketing. Websites and social media are usually the most effective digital media to build a strong brand image for futures brokerage companies. 

The purpose of marketing activities is to encourage potential customers to make a purchase decision or complete a transaction. In the context of forex trading marketing, prospective customers or what is often referred to as the prospect of making an investment or a popular term is called closing.

What are the duties of forex marketing?

Forex marketing in some futures brokerage companies consists of several sections, departments, or teams that have different roles but have the same goal, which is to 'attract' many potential customers to make deposits. 
 
Along with the development of technology, marketing is not only done offline but also online, so it is not surprising that brokerage companies need the role of forex digital marketing. This has changed a lot of marketing strategies even though some futures companies until now prefer to do forex marketing conventionally because they consider the database of potential customers or prospects to be more valid.

Digital marketing will usually be a means for forex brokers to brand the company so that a strong brand image is formed among the public. Managing the company's website, the company's official social media, and producing content marketing that attracts the target audience will be the responsibility of the digital marketing team. The target audience that is successfully converted into a database will usually start to be offered and introduced to forex products by futures broker representatives, telemarketing, or business consultants.

What if a forex broker doesn't have a digital marketing team? Futures broker representatives or business consultants will usually get databases from third parties or conduct research. A representative broker, business consultant or other marketer position in a forex broker must have the ability to provide potential clients with the information they need, no matter how detailed it is. This is commonly referred to as product knowledge.

In addition, you must be able to build relationships with both potential customers and those who have become customers and most importantly be able to convince prospects to invest in the right and professional way.  The position of a forex broker marketer usually has different names in different companies, but has the same goal, which is to encourage potential customers to make investments.

Then, what is the difference between the duties of a deputy broker and a business consultant?

 
Forex is a business that has high risk and high return, as a prospective customer before 'putting' funds in a certain forex broker, you must know the company's profile, the products offered, and get to know all kinds of risks of futures trading products.
 
This will usually be explained directly by the futures broker's representative. To become a futures broker representative, candidates are required to take a professional exam and be declared to have passed if they have a futures contract transaction simulation training certification.
 
The certification is a requirement for prospective futures broker representatives to take a professional exam.  In short, a person has the right to hold the status of a deputy futures broker if he has passed the professional exam for deputy futures brokers organized by Bappebti.

What exactly are the duties of a futures broker's representative? The following are the duties and obligations of the deputy broker that have been determined by Bappebti.
  •  
  • Only WPB has the right to contact customers or prospective customers directly (without being represented by other parties) either face-to-face or through other electronic media. 
  • Convey and explain the profile of the company that has been approved by Bappebti. 
  • Explain and offer futures or derivative contract products to be traded. 
  • Explains all types of risks of futures trading. 
  • Sign an agreement document explaining the risks in futures trading. 
  • Explain the trading rules and transaction mechanisms of the products offered. Explain and sign the contents of the mandate agreement document. 
  • In the implementation of all the points above, it can only be done by the WPB (not represented) and the submission to the customer or prospective customer can only be done by the same WPB.
A deputy futures broker can become a business consultant but a business consultant cannot become a deputy futures broker if he does not take a professional exam. A trusted and regulated forex broker must have a futures broker representative whose name you can check on the regulator's official website page.
 
What if the person contacting the customer is a telemarketing or business consultant who is not a futures broker representative? In brokerage companies, futures brokerage representatives usually have a limited number so that the business consultant will introduce the company's profile, explain the products offered, and inform prospective customers of all kinds of investment risks. 
 
As long as the business consultant educates the customer well and the forex broker is reputable and the forex broker has permission from the regulator, the decision to make an investment remains in the hands of the prospective customer.   

also read : 

Futures Broker Representative: Functions, to Test Requirements


How to become a successful forex marketer? 

1. Understand the products offered

Product knowledge is a situation when forex marketing really understands the product offered. This knowledge is very important to have, especially if forex marketing wants conversations with potential customers to run smoothly.
 
What if they suddenly ask for the details of the product, but you can't answer because you haven't really studied it? If a forex marketer is not sure of what is offered, why should a potential customer believe it? As a good forex marketer, try to provide as detailed information as possible, answer prospects' questions smoothly, so that the closing process runs more smoothly.

2. Carefully look at prospects

Finding the right prospect or potential customer is like mining gold. Forex marketers must understand the difference between ordinary pebbles and gold ore. As a forex marketer, you must learn to identify prospects.
 
This has become an important skill to have in a highly competitive marketing competition. You'll be wasting time if you put all your energy and effort into leads that don't produce you. Not all leads can be converted into customers, so it takes keen eye, the right time, and a deep understanding to find them.
 
When you get used to doing the above, your intuition will be sharper.

3. Jago is good at building and maintaining relationships

Communication is very important, but it's not the only way to introduce a product or make a presentation to potential customers. Building a connection between you and potential customers requires the ability to build good relationships. The good relationship in question is not just a small talk that is done a lot.  You have to build genuine connections and relationships.
 
Show them that you care, understand their problems, and that you just want to help them solve their problems by offering solutions. If you do this, you will gain the trust of potential customers and will most likely close.
 
After the status of the prospective customer changes to a customer, keep maintaining a good relationship. Provide solutions if customers experience difficulties or obstacles. Forex trading is a high return and high risk investment, loss profit can be a challenge for your relationship with your clients unless you can maintain customer trust.

4. Understand what potential customers need

The next Forex marketing tip is to understand the needs of potential customers. Successful forex marketing is not just about offering products, but also providing services, creating solutions, and solving problems.
But before you can provide a solution, you must be able to identify the problem first. The only way to find the problem is to ask the right thing. Like a doctor diagnosing a patient, you have to be systematic.
 
The best marketing professionals are able to identify the needs of potential customers and through smart questions, they are even able to create needs for potential customers. In order to be able to ask questions intelligently, forex marketing must be able to sort the words into helpful, relevant, and specific questions in order to get the right answer.
 
When you have the answers you need, you can offer your product or service as a solution to their problem.

Register here to maximize your trading strategy, become a profitable opportunity!