Competitive Forces
Regulators and competitive forces dictate that our trading platform provides fair prices, immediate and accurate transaction fulfillment, and proper handling of customer accounts. Our Marketing Plan is positioning the firm strategically in geographic areas through both advertising, sales staff, and business development staff, providing a comprehensive, first-class trading tool to its retail clientele. Our firm distinguishes from other retail forex trading houses in our commitment to customer service. Many existing forex brokers have become complacent in this business, believing that since fewer choices now exist for the consumer they can relax their servicing efforts. It is our goal to be the market leader that sets the standard in the industry.
Customers understand the concept of integrity and support, and are much more likely to migrate to a broker whose offering clearly states that, and whose feedback from clients on popular web blogs support that.
The main key to success is making the product, and marketing positioning clear. We are striving to keep the gained customers. To keep this up, we are working on reinvigorating of relationships through successful database marketing, among other means.
Customers have to understand they are taking on a relationship with Spotfx, not just gambling with their risk capital. Spotfx, although operating much like a casino, we do not want the customer to cross the street to the bigger casino with the big lights. The customer (existing or potential) should want to stay with Spotfx because the experience was worth the risk – win or lose.
As mentioned in other parts of this plan, most clients lose their deposit. It is the job of customer service, sales and marketing to be sure the customer does not look to blame the broker for losses. This can be accomplished by a public and internal message of fairness and integrity. All questions asked are answered, all complaints are investigated – and if in doubt, advantage client. Personal contact between the customer and any of SpotFx various departments is friendly and helpful. Customers don’t feel like they are one in a million, and as relationships develop, so does our reputation. As customer comments proliferate through the forex blogs such as: Forex Factory, Forex Peace Army, etc.. Spot Fx is a broker with a minimum of negative comments, and a multitude of positive ones.