There has been a lot written about the recent massive influx of retail traders in the financial markets. However, what hasn’t been discussed is the rise in the number of brokers operating in the space. This has created an intensely competitive and noisy space, where standing out in the crowd can be a herculean task.
Then came the scams and get-rich-quick schemes. These unregulated noise-makers are making it increasingly difficult for the new generation of investors to trust brokers.
Against this backdrop, how do you stand apart and effectively attract and retain clients? Here’s a look.
Connect on Social Media
As of 2021, over 50% of retail investors are millennials, while another 16% belong to Gen Z. These are also the generations that spend a lot of time on social media. They seek news, reviews, opinions, and references from social media. In fact, 35% of retail investors aged 18-34 say that they get their investment ideas from social media versus 15% among the 35-64 age group.
This means that while social media is an area largely neglected by brokers, it is absolutely crucial for attracting new traders and improving engagement with existing clients. However, running an effective campaign can be easier said than done.
The Autochartist automated social media solution was designed specifically to reduce the time and monetary demands brokers face in their social media campaigns. Our software combines Autochartists powerful technical analysis tools with your branding and price data to produce unique, actionable content. This content is then automatically delivered directly to your social media platform and combined with click-through options that take traders to the exact trading opportunity on your platform. Because our service is fully automated we can produce regular engaging posts in a variety of languages, and can even post at region-specific times.
Millennials are often called the most unlucky generation and are a generation largely shaped by the economic recession. This has led to a group of people who do not easily trust financial services providers.
As a result, trust and confidence-building should be central to any broker’s marketing strategy. There are a number of ways in which brokers can achieve this, such as providing informative content through social media or blog posts. Another effective method is to offer traders strategy-building tools. This means going beyond offering simple trading signals and providing traders with strategy-building insights, which takes significant research and development work.
Thankfully, Autochartist has gone through all the expense and time to develop a number of strategy building tools for you. Our tools, such as our risk calculator, were developed with the broker in mind and helped give traders the confidence boost they need. This, and other tools such as our volatility analysis, and news event forecasts, let traders know you care about their success, without imposing on your profit margins. By doing so, you can stand out as a more enticing option to potential traders.
Offer Something for Everyone
Society today is built around instant gratification and finding the most efficient pathway to your goal. For this reason, market scanners that require you to leave one chart in order to find a trading opportunity on another can be frustrating to traders. Similarly, beginner traders may become overwhelmed and disheartened if the signals provided are too complex, and experienced traders may become bored if they are too simple.
The key is a complicated mix of variety, delivered to the trader in one place. However, this is not something that is easily found.
We have developed the most powerful market scanner available which lets traders pick opportunities without ever having to change charts. You can stand out by offering traders the ability to scan their entire watchlist and easily access all the current opportunities in one place. Traders are also able to filter opportunities to ensure they are only presented with analysis typed that they understand.
Speak Their Language
A recent survey revealed that 76% of global consumers prefer to purchase goods and services that offer information in their own language. In the financial markets, access to information in one’s native language can prevent misinterpretation of information and risks. But creating content in multiple languages is not an easy or cheap task. This is especially true when you are dealing with technical terms and cultural connotations of words and phrases.
This challenge can be effortlessly overcome with Autochartist’s content solutions. With our unique automated content, you gain access to not a wide variety of content for different channels, including social media, SMS notifications, and emails. You can also access all this content in 30 languages. With the use of NLG, we ensure accurate and cost-effective technical content translation, with contextualised narratives that can be delivered timeously to your platform. This allows you to speak to your global audience in their language according to their time zone at a fraction of the cost.
As trading gains popularity and more traders seek out brokers, it is likely the space will only become more noisy and competitive. Autochartist aims to create long-lasting relationships with broker partners and is committed to helping our partners stay ahead of the competition.
To learn more about how we can help you attract and retain clients, contact us today.