Marketing Of Foreign Exchange | Techniques – When it comes to bidding on keywords connected to forex (short for foreign exchange and refers to the global currency trading market), you’re dealing with a diverse group of people with varying levels of intent. Take two of the top three terms, for example: “exchange rate” and “currency exchange.” Of course, if you’re a marketer, determining whether someone is looking for rates because they’re traveling, interested in trading, or simply curious about the rates is incredibly difficult. But, of course, the motivation behind some of the other searches is somewhat more evident: those seeking “forex-trading” and “MetaTrader 4” are most likely looking to get into the currency market.
A side note: many of the 1.22 million monthly searches for “future” are likely related to the rapper rather than trading. Speculating on currencies is a popular pastime for many people. A large number of people like attending “Mask Off.” Something to consider.
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These observations lead to an important lesson: avoid doing a broad search. Of course, broad keywords appeal because they allow you to reach a large audience and disseminate your business messaging extensively. A vast audience, on the other hand, is mostly immaterial. Sure, your first impressions might soar. However, you shouldn’t expect a high click-through rate, and many of the clicks you do get will be wasted on people who aren’t interested in what you’re selling. If you bid on “currency exchange” and advertise an app to help forex traders, you’ll waste a lot of impressions, clicks, and money on a study abroad students looking for their next weekend vacation.
Negative keywords are helpful in this situation. Negative keywords range from broad to exact, ensuring that your ads aren’t displayed when such words and phrases are searched. For example, suppose you’re advertising a forex app and don’t want your ads to show up in front of those annoying collegiate passengers. In that case, you can utilize the negative keyword “currency exchange airport.” Long-tail keywords are also beneficial; they’re what they sound like: longer, more precise terms that prospects are more likely to seek when they’re further along in the buying process. Compared to wide keywords, they generate less traffic overall, but the traffic they generate is significantly more relevant and likely to convert. So there’s the forex app. Rather than bidding on “currency exchange,” invest in the “currency exchange app” and reach out to the folks you’re selling to. This will save you money on unnecessary clicks while also increasing your conversion rate.
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It’s crucial to know who you’re marketing to, no matter what you’re selling. Even though everyone can participate in currency speculation, some groups are more interested than others. For example, your forex app’s target market is probably well-educated and financially secure. On the other hand, we know that college-educated middle- and upper-class Americans gravitate toward cities and the coasts. You may enhance the possibility that people who view your search advertisements are interested in forex trading by using geotargeting technologies to limit the scope of your adverts to these places.
Remarketing is also a smart idea. While some prospects may have a genuine interest in currency markets, their search for “currency trading” may reflect mild curiosity rather than high intent if they lack knowledge. Advertisers should use the Google Display Network (GDN) to remarket to their prospects to keep their brands in front of them. Give it some time, and those who were only toying with the notion of currency trading might opt to download your app. Remarketing lists for search advertisements (RLSA) is another helpful technique. When a remarketing prospect searches a keyword for the second or third time, you can raise your price on that phrase. Their repeated searches indicate their increased intent; therefore, it’s a good idea to pay more to place your adverts in the most excellent position possible.
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Finally, keep in mind that many persons looking for terms connected to forex are tourists who have no intention of trading. To learn more about how to promote to travelers, go here.