Congratulations! You have a new trader signed up for your demo account. However, this is only the first small step towards a new live trader. At this stage, most traders may be feeling sceptical or nervous about depositing funds into a live account with your broker, while others may still be wondering whether they have enough knowledge to trade with real money. Many of them may be beginners, juggling full-time jobs that leave them with little time to wrap their heads around the charts and plethora of trading options.
So how do you, the broker, convince these traders to go live? Unique, actionable content.
Consistent and high-quality content has the power to engage audiences and influence their decision making. That’s the reason 87% of marketers today create content for every stage of the customer’s journey. One of the biggest advantages to a content heavy approach versus a traditional signal-driven approach is that content has the power to cover the entire sales funnel. Below are a list of the most common reasons traders hesitate to go live and how to best use unique content to overcome this concern.
Lack of Trading Knowledge
Trading is risky. Most traders are aware of that. They may wait to feel they understand how to handle the curveballs faced when trading, such as market volatility, before taking the plunge.. At this stage, the best way to speed up the process is by providing traders with educational material to help them build their trading strategy and find methods that work for them. Below are a few examples of content types you might consider: s
- Explainers: Publishing content for beginner traders explaining basic concepts like market volatility, technical analysis, and different market events can help educate traders and give them the confidence they need to try live trading. Descriptions of various trading styles, like trend traders, swing traders, mean-reversion traders, news traders, and value investors, can also help people identify a trading style that looks doable for them.
- Tips: Sharing tips to help traders make the most of the market and trading strategies can help generate excitement and move traders to a live account. Pairing this content with simple pictures of candlestick charts can help traders grasp concepts quickly and they can feel less overwhelmed with how much there is to learn.
- Forecasts and Opportunities: Provide demo traders with useful price movement and volatility forecasts and high probability opportunities. These can give traders confidence in their abilities and help move them to live accounts.
Scepticism and Fear
Traders on demo accounts may feel worried about incurring losses. The right content builds confidence and helps with decision fatigue.
- Testimonials and Case studies: Share testimonials of traders who’ve had a great experience on your platform. It is also helpful to showcase traders who’ve performed well. However, avoid stories that sound too good to be true or stories of highly advanced traders. Choose traders that the audience can relate to.
- Personalised Email Marketing: Over 60% of participants in a recent survey said that email marketing is the best way to nurture leads and even re-engage the audience. Engage with traders with simple messages.Send your traders personalised content including opportunities relating to their personal watchlist.
Lack of Time
For many demo traders, trading is a hobby they may not yet be fully invested in. Timing your communication is therefore crucial, as is fostering and growing an interest in trading. Here are some examples of content that are effective in grabbing traders interest.
- Live trading opportunities as they happen: Even if your demo trader misses the first few opportunities you send, if you ensure you are sending valuable, actionable opportunities as they happen your trader will soon take note of your notifications. Pairing these with catchy headlines is sure to build open and trade habits in any trader, developing their interest.
- High Impact Economic Alerts: Keep your traders up to date and get them interested in how market events affect their assets. Autochartist offers pre-event alerts with forecast price ranges to do just that. Push Notifications: Using a multi-channel approach is key to keeping your traders engaged. Push notifications are a great form of interruption marketing, alerting your traders to opportunities right from the palm of their hand.
- Unique-to-broker social media content: Social Media is growing exponentially and is crucial to any business. Displaying interesting opportunities on your social media can help remind your demo traders about their account while they scroll. This is great for growing trading habits and getting your traders more invested in their own journey.
No matter the content you produce there are two key features to remember. Firstly, uniqueness is key. Using generic, low-quality content will not help you stand out in the minds of traders and is far less effective than content specific to you and your trader. Secondly, remember to include clear, actionable CTA’s to drive your trader in the direction you wish.
Producing your content in a variety of languages can also be extremely beneficial to engagement. However, producing content of this quality is extremely challenging and expensive, often requiring a team of analysts and translators. Luckily, Autocharist has the solution. Autochartist is able to produce actionable, unique content automatically and at a fraction of the cost. Our technical content is not only multi-language but also gives you 24/7 coverage, ensuring you reach your traders at a time appropriate to their timezone. To find out more about our automated content solution speak to one of our industry experts.