How to maximize trader acquisition?

Mega-entrepreneur and billionaire, Sir Richard Branson, shares a smart analogy about “TEEMING TEAMS” in his outstanding book “The Virgin Way”. He writes, “Running one marathon as part of a team is a much more exhilarating and rewarding experience than slogging around on your own…having teammates to urge you along and set the pace while enjoying every minute of it together makes for an altogether more uplifting experience and almost certainly improves your time.”

The way you manage your Affiliate Marketing is absolutely the same, you must find your teammates and learn how to create real collaboration, so people will feel free to share their knowledge and expertise.

How to maximize trader acquisition efforts? Get tips on how to improve your Affiliate Marketing strategy. These steps will help you improve your collaboration and your relationships with affiliate marketers.

The Pareto Principle and Affiliate Marketing

Affiliate Marketing is one of the most effective channels for trader acquisitions. It can be very effective for market leaders, but new brands and small companies often work very hard trying to find affiliate partners. For example, a few weeks ago I had a meeting with the founder and CEO of a new binary options brand. He told me that his team struggles when it comes to generating high quality leads through Affiliate Marketing. The Affiliate Marketing manager was desperate for solid contracts and programs that would drive more traders, but he returned empty-handed.

The CEO asked me, “Why is it so hard for us to collaborate with affiliate marketers?” To which I replied, “In most industries you can find the Pareto Principle (the 80:20 rule). That means that companies gain around 80% of their revenues from around 20% of their customers. And like most industries, affiliate marketers prefer to collaborate with market leaders because they have higher conversion rates and that makes it much easier for affiliate marketers to gain profits.

So if you want to create good collaboration with affiliate marketers you must find your value innovation in a specific market, implement it into your sites and landing pages, and increase your conversion rates. Once you do that you will be able to find affiliate partners more easily.”

“Acquisition, Acquisition, Acquisition…”

One of the first and most important lessons I learned while working at Google was about user acquisition and measuring Life Time Value. Ten years ago many marketers didn’t know much about Google, measuring tools, optimization processes or KPIs. In the beginning, it was extremely hard to change marketer perceptions and methods. My team and I invested long hours in data analysis, market and potential research, and measurement and optimization processes.

We demonstrated to market leaders how to convert traffic into sales, visitors into profits. Google continues to lead the way and offers free analytical tools that help marketers maximize acquisition efforts. Forex and binary options brands must master these tools. One of my colleagues at Google told me that more than 70% of the companies who use Google Analytics have implementation problems that lead to bad data. It’s highly recommended to check your analytics implementation and to define the main funnels you want to measure.