The forex affiliate niche is undoubtedly one of the highest paying niches in affiliate marketing. But high payouts means high competition.
The promise of making an average CPA of $300, or the potential to earn a substantial income via revenue share attracts just about all affiliate marketers to forex or binary options at one point or another.
But just like 90% of forex traders (if you believe that commonly quoted number), most forex affiliates tend to lose interest after a few months. All that hard work is for nothing when their sites don’t yield the impressive results the niche claims to have.
So how does one go about carving a good business out of promoting forex brokers and products? Step one is to make sure you understand the industry (most forex affiliates know nothing about forex trading), but this article will focus on some other simple ways to improve your visitor engagement and conversions.
Start By Taking A Look At Your Forex Reviews
Most forex websites tend to start out with reviews of the brokers or products that they promote. Needless to say the reviews are more or less positive, in hopes of striking a depositing trader. However, reviews are common and if your review is just average chances are that you won’t see any conversions, despite a well articulated 600+ word review sprinkled generously with images, ratings and videos.
Instead, focus on the unique selling points that others miss. Everyone talks about spreads and signup bonuses, and you should mention those, but you should focus on what makes this broker unique.
And definitely don’t over stress on the bonuses. While there is a marketable niche of traders who prefer bonuses, there are an equally good number of traders who prefer to read about the more important things.
Keep The Broker/Product You Promote In Focus
Most forex brokers tend to run monthly promotions or offer time-sensitive value-added services. By updating your website’s content and social media profiles to reflect these new promotions you can be one step ahead of your competition.
If you do highlight new important developments (be it regulation updates, licensing, new product features, etc.) you’ll have no shortage of content, and that content will lead to new clicks to the product you’re promoting.
Provide Value Added Services
Write about the monthly outlook on the financial markets. If you have the time, even do a daily or weekly update of the markets. Partner up with a signals service provider, or even better a broker, and offer exclusive deals to your visitors. Traders love to read about the markets, not about brokers, so try subtly promoting the brokers from within the financial analysis that you provide.
Understand Your Visitors
Look at your analytics to see where most of your traffic is coming from and speak to your account manager to offer a tailor made promotion for your geo-targeted visitors.
It doesn’t have to be exclusive, but even simple things such as using the right currency symbol can do wonders.
In short, build your content for your visitors and keep it simple and easy to understand.
When it comes to forex affiliates or IBs, there’s no easy path to being successful. Give yourself a good amount of time (at least a year or more) before you start expecting to see significant revenues. Most important of all, don’t spend too much money on SEO or content writing. Blowing up your budget within the first couple of months will only result in you burning out and giving up!