Two weeks ago CAKE attended the iFX Expo for the third time in a row. We were looking forward to meeting with Forex and Binary Options industry leaders from all over the world. With more than 95 companies and 2,000 attendees, we were thrilled to see a good portion of our clients among the exhibitors including big names in this vertical such as: Investing.com and MediaLink.
It was an incredibly insightful and exciting conference and we wanted to share two of our key takeaways from the expo:
- The Shift to Mobile
Like many industries, the Forex & Binary market has seen a paradigm shift towards mobile. Customers are spending an increasing amount of time on their mobile devices, and it is essential for companies to make their customers’ online experience as seamless as possible. It is critical for companies to keep up with the changing market in order to stay competitive.
This was highlighted in a talk from Yiannis Kranitis, Digital Strategy Consultant at Google who emphasized the growth of the mobile channel and the importance of providing a seamless customer experience across mobile as well as desktop. The fact that 86% of consumer’s time is spent on mobile apps, a figure which is projected to continue to grow, proves just how prominent this channel is within the digital marketing ecosystem.
- Combating Low Conversion Rates
Many companies still rely on fragmented views of their customer acquisition programs. Customer acquisition costs are increasing and it is critical to have access to granular real-time insights into affiliate and multi-channel performance. Many of the speakers talked about the prevalence of disappointing conversion rates – investing in Paid Search and Facebook is risky because you are not paying on performance but rather paying on the click, impression or lead.
Within the affiliate channel marketers need to be able to view lifetime value per source and have the flexibility to reward affiliates and Introducing Brokers who are driving valuable users. It is also essential to provide your partners with the insights they need to optimise their traffic. Finally, marketers need to consolidate their tracking across mobile and web into one dashboard.and to have the flexibility to deploy campaigns on the fly with a real-time view of the results.
Overall, we have seen a huge amount of change, just over the last three years. We are excited to partner with leaders in the industry and continue to innovate and help our clients drive higher returns from their marketing investments within this dynamic space.