Branding 101: Creating A Memorable FX Brand
"A brand for a company is like a reputation for a person" Jeff Bezos, CEO, Amazon
This is a great quote that gives a simplistic definition of what a brand should be.
As a new FX brokerage, your brand may not hold much appeal for potential customers. Although it does play an important role in creating the first impression of your brokerage, with the power to potentially influence prospective customers to open trading accounts with you or turn towards a competitor.
A professional brand is one that works well in every aspect of your business. It should be reliable, consistent and, most importantly, effective. Below I have listed key elements that you should consider when creating your brand for your start-up FX brokerage.
1) Find you're businesses why
Before you start anything to do with your brand, you need to understand your businesses 'why'. Finding and emphasizing what makes your brokerage unique will help lead you in the right direction of your target audience.
Brokerages, well most businesses in fact that choose not to relate their businesses 'why' as a key part of their branding strategy tend to underperform in the long-term. What is the passion that led to you to launch your FX brokerage? Are you really passionate about FX trading? Think about it and use it as a story to share with your customers.
2) Perfecting your logo
A logo is one of the most prominent parts of a brand and therefore shouldn’t be ignored. Consumers buy with their eyes, which is why a lot of thought should be put into the visual side and design of the logo. It should be bold, reflecting your brand personality.
There are many helpful blogs that can guide you in designing a logo, however, if budget permits it would be definitely recommended to hire a designer to bring your brand to life.
As you will be operating on trading platforms such as MT4 and MT5, the technical side of the brand should also be considered. For example, Metaquotes requires to brand the platform of every white-label, therefore, it is crucial to ensure you get the dimensions of your logo correct. Another technical element to consider is to make sure you have a square ICO logo icon. These are images used to store icons, and their format is native to the Windows environment that can be easily created using creative platforms such as Adobe Photoshop.
3) Create a branding campaign
Once you have perfected your branding and your business is live, it's time to get out there and become noticed by your potential customers among the FX community. A great way of promoting your brokerage is with an awareness branding campaign. This is where you will have the opportunity to make an impression and begin achieving positive recognition.
“The universe is made of stories, not of atoms.”
Humans like to frame things in the mind, therefore to stand out from the crowd your brand needs to boast a unique identity through storytelling to capture attention and inspire consumers to get in contact. You should create and showcase a unique tone of voice into all of the campaign content and entire digital presence. Create a set of bold and strong visuals that will grab attention and help differentiate you from the competition.
Try not to focus on the product, concentrate on the needs of your customers and their pain points. It's important to remember that you can’t sell the answer, without selling the need.
Below are a few extra tips that can help you with creating your first branding campaign:
- BE ENGAGING
In terms of the types of media, you will need to create from a content marketing perspective, having some form of video is essential. I would strongly recommend including video into your campaign, whether that be long or short-form, as well as on your website. However, you need to ensure that the content is relevant, helpful and consistent with your brand message.
- BE VISIBLE
To do this, try starting to grow your social media presence. Think about who your core target audience, go back to your audience persona and make sure your brokerage has some form of presence where they are. Are you targeting the younger, trend-driven, tech-savvy consumers? If so, then make sure you are present on social platforms such as Tik Tok and Snapchat. Or, are you targeting the slightly older, business-minded sports fans? Then maybe Instagram could be a more appropriate channel to engage with your prospects or serve them ads.
Never under-estimate the power of a brand. It can make or break a business. A credible, trustworthy brand will help you generate the most valuable leads, and more leads turn into more trading accounts being opened. To create a brand, think thoroughly about your unique selling propositions and the purpose of creating your start-up. Next, create a logo that works and appeals to your target customers from a design and technical perspective. Finally, create a bold branding campaign that will get your brokerage noticed, for all the right reasons and you will be off to a great start.
Grace Butler, Marketing Executive