A lot of marketing people in the brokerage industry look with envy at companies in this space that automate large parts of their marketing. And to a certain extent, optimizing advertising can be done by rules and robots. However, if you look at the business model of those companies automating a large part of advertising, onboarding and retention, you will see that they have little to no brand.
What I mean with that is, if they stop spending on advertising tomorrow, a few weeks from now their acquisition will go to zero. You will also see they spend a very large percentage of their revenue on advertising compared to brokers that do focus on building a brand.
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Bart is a Partner at MediaGroup. In the agency, he primarily works on SEO, client strategy, new business and staffing. Before working at MediaGroup, he managed global marketing at Citibank’s Margin FX business and worked on online marketing for Saxo Bank in Copenhagen. Bart has lived in 7 countries over the years but is originally Dutch.
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The Golden Rule of the brokerage Industry
Due to compliance rules it’s pretty difficult to become a client of a broker in the first place, brokers should make all the rest of the process as brainless as possible. It starts with advertising and being less annoying. Advertising needs to happen, but it can be so much better.
Written by Bart Burggraaf
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