According to Digital 2020 July Global Snapshot published on the 21st of July, more than half the world now uses social media!
And the money spent on social media advertising is on the rise, especially when it comes to online forex products. It’s no secret that social media works very well for forex affiliate marketers, as there are a lot of different channels they can choose from.
So, where should you place your forex affiliate links, and which social media channel should you use?
How to choose the right Social Media channel?
As a Forex affiliate marketer, you must consider which social media channels are the best to either run ads or be active on.
Doing your research diligently first to find out where your buyer personas are hanging out and are active is critical. In other words, you must seek the social media channels that have the highest pre-existing audience already interested in your forex affiliate offer.
That means to find out where the forex and CFD traders are hanging out the most and which social media platforms are they most active on?
Remember, as we have discussed on AvaPartner’s Forex Affiliates blog that you should focus on and target a specific niche of traders and/or investors as part of your marketing strategy. So for example, if you are targeting commodity or cryptocurrency short term traders, you should do your research and find out where those traders are active and then make sure to target those social media platforms the best you can.
Social media channels can be a great source of both organic and paid traffic.
Therefore set up an attractive profile from the start, be very active and create engaging content, so that the channel can bring you both organic traffic and will increase your conversions when you bring paid traffic. When you finally decide ding to go with paid traffic, you need to make sure to tailor your ads around a specific user base. Looking at the competition will also help you target the right audience segments.
Channels such as Facebook, Twitter, Reddit, Linkedin, and Instagram are used by a large number of people interested in the financial world, and in particular, forex and therefore are worth checking out to see which social media channel is best for you.
Once you’ve finished your research and have decided which social media channels you want to focus on, it is time to get noticed!
Consistency and Engagement- the key to social media success
The two most important factors that affect the success of a social media campaign is consistency and engagement. So make sure to keep your audience engaged! What kind of content are you sharing? Is it engaging? Posting at regular intervals and optimizing your profile as we mentioned earlier is vital.
So keeping an active social media account, posting regularly, and engaging with your audience will help you gain authority as an expert in the Forex and CFD niche and will certainly expand your social network.
If you can touch upon the main pain points or key challenges your buyer personas are seeking solutions for or provide the information they are seeking, then you will be able to see conversions!
There is no better way to convert traffic then by focusing on your buyer personas challenges and then providing them solutions that will give them the best value they are seeking!
The problem is many forex affiliates miss out on this very important step in marketing which is to define their buyer personas. Perhaps this takes a lot of time in the initial stages of your campaign, but it will be well worth it in the long run!
This is what sets brilliant marketers in general from average ones-understanding first your buyer persona and their needs!
Social Listening – use it as part of your research
By listening or rather social listening, you will be able to create content that your followers want, and accordingly, come up with new ways to target your buyer personas based on the forex and trading industry trends. Social listening lets you hear discussions regarding specific keywords you want to target, find the hottest topics, and see what the competitors or other successful forex affiliates are doing. All this helps you gain insights and act on those very opportunities.
Mention.com is a great tool that will help you with social listening!
Stay Abreast with the Financial News
When it comes to social media, you must know what’s trending and what the hottest topics so that you can share and engage accordingly. When it comes to the financial and forex world, you must be on top of the financial news all the time! Staying abreast of the latest financial news will enable you to know what’s influencing the trading world. Bloomberg, Investing.com, and the AvaTrade blog are just a few of our favorites.
The Forex markets, for example, are heavily influenced by financial news and major world events. So be on top of your game, and the best way to engage your social media following is to stay abreast with the latest financial news by sharing and commenting on the latest news that impacts the financial markets and creates excellent trading opportunities.
Not only will your social media followers view you as an expert and respect you for it they will slowly build trust in what you are also offering (your forex affiliate links) and will listen to your advice (recommending to trade with which broker).
Getting their attention!
Pay attention to what other forex affiliates are doing at the moment to attract forex affiliate traffic Are they offering cool trading apps that are getting their attention? How about promoting the best trading platforms? How about offering something special that most brokerages aren’t offering such as options-promote for example AvaOptions!
Your forex affiliate link
Social media offers you the ability to get your forex affiliate link out to the masses and generate tons of traffic that is needed for those higher commissions you’re after.
The more you keep sharing and are active on your social media channel you have chosen to focus on, you’ll find that more people in the trading and forex industry will see your forex affiliate links, and then they will likely to share your posts and valuable info! This is where the power of social media lies and how you are going to get traffic from social media.
Social media advertising
What about social media advertising? Although any type of advertising requires you to spend some money upfront, it’s pretty amazing how one single, well-targeted ad can actually generate you high ROI (Return on Investment). Just make sure to focus in on a specific group, so instead of advertising to a wide audience in an impersonal way, tools such as Facebook Lead Ads will allow you to place your ads in front of a highly selective audience.
By using different filters, you will be able to ensure that your advertising efforts and investment will be only spent on the most qualified leads. The key to success here is trial and error, and testing to see what works and what works better and resonates with your audience.
Do split testing
Always test your ads to see how well they are performing so you can constantly grow and improve your conversion rates. It’s necessary to understand how and why your ad campaign is performing. This way, you’ll be able to gain great insights into what’s working well and what’s not. This trial and error process will eventually get you to be an expert with social advertising which will only benefit you as a forex affiliate marketer and help you to achieve your financial goals.
Examples of free marketing and paid marketing
You can run paid adverts which should be targeted to your specific buyer persona- let’s say people who are interested in making money by trading cryptocurrencies, and they can do this by trading CFDs. Facebook Ads can be incredibly effective when they are done correctly, and your research is done diligently.
We love this one. It’s simple and doesn’t require any cash investment on your part just time investment! You can join many different Facebook groups for free and choose the ones that interests you the most in the niche you want to focus on, whether its trading forex, commodities, cryptocurrencies and get ready-give the group lots of value and eventually this really pays off! Finally, you will be able to sell to people in the group by placing your link so they can sign up through it.
Ready to make high commissions with social media marketing? Let us help you by offering you the best partnership that will ensure your forex affiliate success! We have the best landing pages, and marketing promotional materials that convert and will help you succeed, so what are you waiting for?
Can social media boost my affiliate business?
The short answer is ‘Yes’. An effective social media strategy can almost certainly boost your affiliate business and generate extra site traffic. But you have to understand what’s actually involved in developing and implementing social media strategies that work. You need specific knowledge, time, creative resources, a budget and the means to analyse and optimise your campaigns. Be prepared to invest time, energy and some money to get results.
What are the best social media platforms for affiliates?
There isn’t a single best social media platform for affiliates. It depends entirely on your target traffic. If you understand your audience, you can tailor your social media strategies to engage with them. A good starting point is Facebook and Instagram. They are popular sites that are easy to use and can offer useful experience as you get started. Twitter, Reddit, Linkedin and YouTube should also be on your list. A lot will depend on your own preferences.
Should I pay an expert to run my social media campaigns?
Plenty of affiliates pay other people to manage their social media campaigns. This might be an agency, a freelancer, or even just somebody who loves Facebook and Instagram. Your choice will depend on your goals, budget, free time and personal knowledge of social media. It’s worth developing at least some knowledge of how traders use social media – and how to connect with them as an affiliate – before you hire a social media manager to run your campaigns.