How IBs Can Attract New Clients: Complete Explanation

First things first, with the right support, materials and tools, anyone can become an Introducing Broker regardless of their trading experience. Usually, the majority of people who become IBs are active and professional traders who can analyse the markets well and who consider themselves capable of attracting more clients.

Having the role of an Introducing Broker has helped many retail traders build a solid and successful business through which they offer exclusive services to clients referred to the broker they’re partnering with.

Ways to gain clients

One thing that new Introducing Brokers who are just starting out can do, is directly refer clients who they know well. It is more likely that clients register with a broker if a person they know recommends it, as it means they can ask for advice and support more freely. Despite the fact that this strategy contains a higher success rate of gaining clients because of clients trusting the IB, they can only refer a limited number of clients. However, there are some IBs that operate on a bigger scale.

The Internet is another way IBs can use to promote their business and reach out to a broader audience which will lead to a higher number of referrals, active traders, and commission.

How to benefit from social media

Social media is a big spectrum in online marketing. It is definitely an important tool for Introducing Brokers who want to advertise their services and attract new referrals. Instead of using emails or other traditional methods to build a solid client base, social media has drastically changed the way to share content. The main difference is how fast content can be shared and how easily people can be engaged. This is very helpful for IBs whose content can be reposted and shared on either Facebook, Instagram or Twitter.

By reaching multiple users and increasing their online visibility, Introducing Brokers gain access to a greater number of potential clients and referrals. Additionally, IBs can open business accounts through social media and run ads which are targeted to a specific audience based on country, age, gender and more. There is also the possibility to monitor and adjust your budget to ensure that the earnings you are generating are justified.

Build a business plan

It is important for IBs to be organised. They can do so by creating a solid business plan, which will basically sketch out the ways you will attract clients and grow your business. There are generally three main factors to consider and include in your business plan:

• How to generate interest and awareness
• How to convert your referrals into active clients
• How to keep active clients

To attract new clients, you will need to have a professional website in place, where you clearly outline your services and their advantages to your clients. You should also include links to the broker you are partnering with.

Afterwards, you will need to consider the type of content you will use as well as the frequency of posting and engaging with your audience. Most importantly keep everything up to date.

Last but not least, it could be useful to separate your client base into categories according to what types of traders your clients are. Having the basic characteristics of your clients can help you customise your content to cater to their needs and style.

More tips to attract clients as an IB

• Provide concise and valuable content
• Reach out to a broader range of clients and engage with them
• Focus on specific target groups
• Aim for long-term partnerships
• Be consistent when posting and up to date with the markets
• Choose a reliable forex broker

Disclaimer:
This information is not considered as investment advice or an investment re commendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.

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