Understanding your Verticals: a Look Into How Black Friday & Cyber Monday Can Affect Your Revenues
They’re here! The biggest spending events of the year!
And just like you’re probably getting ready to blaze through your Christmas list, so too are millions of shoppers around the world.
If you’re unfamiliar, Black Friday and Cyber Monday are previously North American, now worldwide, shopping extravaganzas.
They’re annual events during which retailers and businesses slash their prices and offer crazy deals to kick off the holiday season.
But it’s not the discounts that are going to have your FX trading audience stuck to their computer screens in the days (and weeks) following Thanksgiving.
It’s the potential implications that the 2020 spending stats will have on the financial markets, not to mention the economy as a whole.
So if you want to properly monetize your users and ensure your holiday season is as lucrative as it typically is for retailers, you need to understand what your audience will be looking for this year - and then deliver on it.
But first, some context
Last year, Black Friday spending came in at a whopping 7.4 billion dollars. A record in the day’s history, but still behind the staggering Cyber Monday spend of $9.4 billion.
I won’t bore you with the statistical breakdowns or yearly comparisons.
All you need to know is that Black Friday and Cyber Monday account for about 20% of every retailer’s total annual sales figure.
So if a company doesn't perform well during the 5 days after Thanksgiving, you know it’s in a world of trouble - as is its stock value.
On the other hand, if the results show that everybody’s sales were low, you know that consumer sentiment, as a whole, is in the gutter. And that means the outlook for the entire economy in the near future is bleak.
So are you starting to see why your audience cares more about whether or not others are spending their money and where, rather than how much they can save themselves on a brand new PS5?
Are you getting why whatever bonus you might be offering them from whatever broker you’ve partnered up with might not be the most helpful thing for them during this pivotal time?
The 2020 Curse
We all know that this pandemic has put the world economy through the wringer.
But because of the speculative nature of the FX and stock CFD markets, traders can always find opportunities to make money.
What they need is guidance.
Right now, every trader worth their salt is going to be scouring the internet for predictions, analyses, and what-if scenarios to prepare their trading portfolios for what’s to come.
All of them will want to know which stocks to invest in, which to avoid and when or if they should enter or exit the market.
As it stands, some analysts are saying spending will be historically low because of high unemployment and less financial stability. Others are expecting spending to go up due to lockdowns allowing people to save money on travel.
It’s all rather up in the air - but what we know for sure is that the results will either send the stock markets soaring, or seriously affect risk sentiment.
With every day bringing new updates on a vaccine, but also concerning headlines about rising case numbers as we enter a long winter, this year’s Black Friday and Cyber Monday are going to be critical in determining the health of the economy moving forward.
Because it all depends on consumer sentiment. If it’s not where it needs to be, we might be going into a very serious recession, perhaps even a depression.
And traders need guidance to adjust their strategies accordingly.
Affiliates - Make Yourself Useful
Guys, we’re living in an age where content is king.
Sure - you can ramp up your bonus campaigns and capitalize on novice FX traders who, like most average consumers, will be looking for a good holiday deal to double up their equity.
But if you really want to set yourself apart from the competition, get in touch with your personal affiliate manager and actively inquire about the educational content your broker offers.
Find out what specific webinars, live trading events or informative articles they’re running, and get involved with them.
Run campaigns that link to exclusive high quality educational content that requires a sign up (in your name) to unlock - content that provides your audience with the very predictions and analyses they’re looking for.
And this isn’t just during the immediate aftermath of Black Friday and Cyber Monday. It can extend throughout the entire low-liquidity holiday period and the high volatility lead-up to it, and beyond!
Give your audience the edge they’re seeking by making full use of an informed affiliate manager who will listen to your requests.
Be proactive and get them to create an exclusive, recurring content campaign that is specifically dedicated to you and your users.
When brokers see that you know what your audience wants and that you care enough to provide them with it, they will work with you to give you the campaigns you need.
Because they know that, in return, they will receive quality leads; leads that will convert into dedicated, informed traders who take their investments seriously, and, more importantly, trade a heck of a lot more than those bonus-seeking FTD-ers.
And just like that, your EPC will shoot up. You’ll find yourself with a healthy stream of consistent commissions per traded lot because you will have given your partners long-term clients.
When you nurture traders with targeted information throughout the entire funnel, they are much more likely to remain loyal to both you and your partner.
So, when all is said and done, your revenues are only as strong as your relationship with your affiliate manager.
That’s why you need to make sure you’ve got yourself a damn good one, like the talented powerhouses we are proud to offer you at ROIC.
Want to book a consultation with one of our talented affiliate managers? Get in touch!