TradeStation Securities, an online brokerage firm, wanted to increase the number of legacy clients enrolled in their Fully Paid Lending Program to gather more assets for the firm and increase revenue.
Objective
- Increase the number of legacy clients enrolled in the Fully Paid Lending Program to gather more assets for the firm.
- Build awareness of the Fully Paid Lending program to communicate the benefits and value of joining the program.
Background
The online brokerage space experienced a massive shakeup in 2019 when the industry moved to a commission-free business model.
For years brokerage firms charged commissions on each trade made by their customers. This meant retail investors and traders had to pay as much as $5 per trade each time they wanted to buy and sell.
These commission fees made up a sizable portion of brokerage firms’ revenue model and meant they had to seek other ways to offset the loss associated with the new zero-commission trading environment.
Problem
Through extensive research and analysis, we realized a large percentage of clients:
- Weren’t aware of the program
- Did not understand how it worked or the benefits
- Were fearful of losing their money
These objections had to be overcome if the company was going to achieve its goal.
Solution
A marketing plan was created through a series of in-depth interviews with the head of brokerage, market research, and competitive analysis that outlined an integrated, multi-channel marketing approach targeting a specific segment of the company’s customer base.
The campaign focused on a messaging strategy that would clearly communicate the value proposition and satisfy any client’s concerns about enrolling in the program. Central to that was creating an interactive landing page that included a video explainer and an option to see examples of much they could earn by participating in the program.
Deliverables
- Messaging strategy
- Campaign strategy
- Three-part email campaign
- Landing page
- Interest calculator
- Video
Key Results
- 100% increase in traffic to FPL landing page
- 6.26% eCommerce conversion rate
- All time revenue record for Fully Paid Lending
“I really appreciate the time and effort you and the team put into this initiative.”
— Michael Cavanaugh, Vice President TradeStation Securities, Inc.
