Article source: binaryreview.com
For a long time, inter-personal communication has been one of the most productive methods of marketing. Before other modern information communication technologies came into existence, word of mouth was the sole effective line to communicate the benefits or demerits of a product or service. To its advantage, this method has gained added popularity mainly because the other traditional methods are increasingly becoming less economical.
With the existence of the World Wide Web, a piece of information can quickly go viral and reach the masses across the globe and influence them towards or against certain opinions. When you consider the fact that a significant number of people do not trust traditional advertisement methods, online reviews remain as the single most effective marketing tool for any binary options broker. No smart broker would ever lose the opportunity to use this power to their advantage.
Increasing the Rate of New Traders Signing Up
With numerous studies emphasizing the importance of reviews to a business’s productivity, it can be hard to pin-point your starting point. Many market studies indicate that reviews can influence up to 80% sign-ups to an online service. In the same way, the research company Iperceptions claims that the reviews posted on a website can attract 63% more consumers to use the service offered. Other studies by the same firm have also established that a website with reviews and a good Q&A section is 100% attractive to visitors who check out the reviews, and these visitors will sign up and even end up spending around 11% more money than those other visitors who did not engage in the reviews.
A Boost for SEO Efforts
Google statistics also show that most of the people using the search engine to search for specific products will first search for reviews before they consider reading the material provided by the vendor. This means that if a broker has reviews posted on their website, they get a higher ranking on the search engine; more prospective traders are then likely to find and sign up with them. The new Google PPC ads also shows a star-based rating of advertisers. The ratings are derived from a variety of customer reviews of the broker. Positive sentiment means that traders trust and are satisfied with the broker’s services, and would encourage more traders to sign up with the broker in question.
Brokers try as much as possible to avoid bad reviews. However, negative reviews, if responded to professionally and satisfactorily, can end up attracting more sign-ups, because the broker comes across as efficient and reliable in solving customer problems when they arise. More often than not, a trader will review a broker’s site, whether voluntary or not.
If you are interested in joining the binary options trading industry, as a trader, you are most likely to check broker reviews in order to make your selection as to which one suits your trading needs best. Also, take the time to contact the broker once you have made your choice. There is nothing better than testing a company’s customer service to get a clear indication of just how professional they are.