The coronavirus needs no further introduction. It has in some way affected every person reading this blog, and potentially, hits our readers harder than others.
Why is that?
Because where the first victims are those who are physically suffering from the virus, the next victims in line to suffer are small and medium-sized businesses. This is the category in which we would place most of our partners – people who are trying to make extra income by growing their online business.
Through this article, we attempt to address two of the most frequently asked questions that our partners raise.
- 1. How can we continue to make our businesses grow when the rest of the world is talking about a global recession?
While small and medium-sized businesses around the world are contemplating closures, we find that the world of FX is reacting in a very different way. The referrals of our partners are interested in navigating the increased volatility that the markets are presenting to them. With increased volatility comes the potential for increased volumes, and the result is that referrals have the potential to trade more during this time.
At the time of writing this article, our partners’ business operations, on the whole, are not negatively affected by the coronavirus challenge.
White the above statement is not a blanket statement for every partner, what we do wish to assure is that the potential is there, not only for continued success but for increased success.
If you’re an IB with a personal relationship with your referrals, reach out to your clients to assure them that it’s business as usual in the trading world, and ask what further support you can offer them to start or continue trading.
Send an email to your database emphasising that hyper-volatility could lead to extra opportunity for traders. Pick up the phone to reassure your clients the best way to navigate volatility – ensure that stops are in place and that there is sufficient margin in the client account to weather the storm.
If you’re an affiliate using online traffic to source FX referrals, now would be a good time to put your ads in front of eyeballs who are interested in navigating volatile markets. These could include risk-tolerant demographics like gamblers or gamers.
With so many groups now social-distancing at home, more people than ever are sitting in front of their TV sets and laptops streaming movies and games. In-app advertising could be more effective than usual at this time.
- 2. What is TIOmarkets doing to give its partners an extra helping hand during this time?
While many of the TIOmarkets teams are working from home, it is business as usual for us. In fact, we are experiencing a higher-than-usual volume of projects and requests as of writing this article. So instead of sitting on our couches and hoping for the best, our tightly-knit teams are working together to make sure that our partners and clients continue to experience an increasing level of support.
To begin with, we have up-staffed our partnership team and have more than doubled the size of the team within one month. This means that our staff corps has more time to spend on supporting each individual partner.
Additionally, we are in the process of finalising an extremely exciting resource for our partners that will facilitate them with best-in-class reporting of client referrals. In our new partnership system – which each and every partner will have access to – we will be providing a new range of high-conversion resources to help you convert that client into a trader, meaning more money in your pocket. We want to do as much of the hard work as possible, leaving you to enjoy the results.
Next and most exciting on our agenda is the upcoming partnership competition. It’s something that we’ve had in the works for some time now, but awaiting the new partnership portal to be up and running. Believe us, it will be well worth the wait.
Closing our eyes and hoping for the best isn’t how we do. We meet the coronavirus challenge, and we raise it. It is our goal that our partners will not only emerge from this crisis in one piece, but will prosper.
If you’d like more advice on how you can make your first referral to TIOmarkets, contact us today for an introductory chat. www.tiomarkets.com/partners