How exactly do you set up a Sales Department (outsourced)?
Simply put, we will do the same work an in-house Sales Director would do, only better. When our service is chosen, all evaluation, trainings and control of the new set-up will be done at the broker’s location, on an hourly rate, pre-decided with the management (based on the service needed).
Before allFX-Consult materialised into a complete brand, we saw a need for correct/educated sales department planning, since many attempts from brokers to find suitable department heads (Sales Directors) had no positive results. This could be due to the broker not being challenging enough, or not paying enough, or not allowing the person to reach full potential through the brokerage’s decision making. No matter what the reasoning, there was (and still is) a lot of Sales Director position “recycling”, departments left “naked” after the head would abandon ship and any work carried out thus far, rendered obsolete.
The Sales Director cost individually is minimum 60K (without commissions) plus all other expenses incurred based on his/her requirements (recruitment, training period, systems, lead generation (where applicable), online/offline plans etc). Taking all these into consideration, we can guarantee a minimum of 75% savings in the total cost of a newly formed Sales Department as well as much faster approaches and set up based on industry standards and analysis – not only through our individual experience.
Why would a brokerage choose outsourced help rather than an in-house professional?
Because we’re the only ones who don’t approach this department solely based on our backgrounds and experience but rather on industry standards and targeted competitive analysis. Our methodology, developed and fine-tuned over the years, assesses how the brokerage came to be and where it’s planning to go, it identifies correct products/services relative to its target audience and the direct competitors, it renders the final product marketable and evidently saleable. In rare cases where the product is not saleable, perhaps the broker is unwilling to adapt or the business plans are not feasible, we will just not take on the project.
Once we on-board our strategies, the training does not only include employees and sales people but also the management on how to continue utilizing our work after completion, without the need for us to be present. A sales department doesn’t need months to become operational. Depending on its size, the period can be a lot shorter. The fact that we carry on the work in such an independent manner, is one of the reasons we have lifelong contacts rather than clients and projects.
Another reason is of course the redistribution of business through our Institutional program, with our clients receiving business (as this comes to us) as high priority, a program that keeps everyone happy. So you can see why anyone that engages the services of allFX-Consult is a lot more than a client and partner.
Are you or do you have a call center?
Absolutely NOT. Through our blog or direct communication with industry participants, we always urged caution towards outsourced call centers, any so called “sales rooms” and anything scripted that takes away the personal, educated and human approach towards a potential investor.
It is very common that our website visitors confuse the “outsourced sales department set up” with “hiring an outsourced sales team to handle leads”, so in order to help strengthen our position in the matter, here is yet another quote from an interview published in the magazine Game Changers regarding CySEC’s latest decisions on third country call center outsourcing:
“How can a faraway country that doesn’t even know what the word regulation means, take on the role of the “income generator” of a broker, without overstepping boundaries, making false promises, begging and/or any other tactics they see appropriate to succeed in an aggressive industry like the forex industry. No ethical industry participant would be against these decisions unless they are themselves incapable of generating sales without offering investment advice, making fake promises, use aggressive tones and repeatedly harass their prospects.”
Do you produce and/or sell forex leads?
We do not produce, distribute, redistribute, buy and/or sell forex trader leads. With shame we admit that we did fall into the trap of testing (with a small budget of course) these lead generation companies that dominated the social media platforms in the past and found the experience sickening in its core.
Not only you can expect nothing from these leads but the ones that would interact and answer our phone calls, would explain that these “lead generation companies” would beg them to accept our call, be aggressive with them and/or continuously harass them with calls until they succumb to their pressure.
We continuously preach for educated sales people, unscripted methodologies, human approach towards prospects and efforts to change the industry’s reputation, so how can we ourselves become what we mostly deter by enabling these functions?
Why would one choose you for help in setting up a brokerage?
It’s important to note that the biggest challenge a foreign investor faces, is the huge number of Service Providers that claim they can help.
In 2015 we looked into the possibility of offering a full suite of services and products that would complete a full brokerage set-up. Just like a foreign investor, our biggest challenge was to find suitable partners since as the industry grows, so does the number of companies that provide services and unless you work with them, you can never tell whether they can deliver or not. And so we touched base with almost every service provider and our final selection was based on 3 important characteristics; successful delivery of services as promised, delivery within specified time frames & delivery with the lowest possible cost.
Sure enough this carefully selected panel of professionals, each with equal if not more experience and background to ours, is now operating under the umbrella of allFX-Consult, offering full brokerage solutions that complement every regulatory requirement and need, that today’s brokerages are built on.
We always stay below market costs and strong supporters of doing what you know best. In the same manner, we delegate responsibilities to our providers according to what’s needed to ensure return on investment.
Are you involved in all of the process?
The relationship between allFX-Consult/Service Provider/Client is defined from the beginning and in most cases it is done so by the client. allFX-Consult success rate is high mostly due to our involvement in projects (therefore avoiding surprises or challenges arising from the provider’s side). If the client wishes to maintain a more neutral relationship (just introduction), this is also a decision that we would honor and respect.
What type of institutional business can one receive?
Typically our marketing promotions target the Institutional page of our website. This means we could deliver any of the below:
- Grey/White labels evaluating options
- Investors looking into starting a brokerage
- Institutions looking into licensing options
- Introducing Brokers (IBs)
- Corporate Accounts
Send us an email at email@example.com to find out more.
How can someone get Institutional Business from you?
Any client that engages the services of allFX-Consult has priority in receiving business (IBs, Grey/White Labels, Traders) outside the scope of the services previously provided to them.
Can brokerages that didn’t engage your services, receive Institutional Business from you?
Brokerages can register their information on the homepage (at the Register With Us) section. Our monthly campaigns that promote the allFX-Consult services through various online channels, generate a number of leads. Sometimes we might have more business to distribute and we look outside our current network for potential partners. Our advice is to better your chances by adding your business on the list because you never know when we could come knocking on your door bearing gifts.
How do you price your services?
Direct Service | allFX-Consult
Based on the service chosen, an hourly rate will be decided and pre-agreed upon before commencing operations. The service can include/exclude current team evaluation, new team formation, recruitment, trainings, retention strategies, competitive analysis, product identification, amendment of current policies/procedures and a lot of other very important key functions of the department.
All of the above are subject to discussion and approval from the forex brokerage and allFX-Consult to determine the validity and feasibility of success, if our service is engaged.
Indirect Service | from one of our service providers
There is no charge for the client as long as we make the introduction. Not only is there no extra charge from allFX-Consult, we guarantee you will get a lower price than the average market price for the service you are looking for.
What do you mean you charge “no commissions on earnings”?
On a Sales Director’s contract, a brokerage is most often forced to agree on a percentage share on all forex earnings (deposits and/or volumes) generated under their service (on top of their base salary).
No such arrangement is required under our agreement other than the hourly rate – that is pre-agreed – based on what’s needed to be provided.
Do you have packages or discounts?
Twice a year (February and August) for the past 3 years allFX-Consult organizes 3 separate promotions:
- – White Label contest
- – 20% discount on the Hourly Rates of the Sales Department Set-up
- – “Open Week” where everyone from low to the highest position is welcome to meet with us for a coffee at our premises.
Send us an email at firstname.lastname@example.org if you would like to discuss any of the above.
You claim to be below market costs. By how much lower?
On average we are well below 10-20% of what each provider would charge, should a client go directly to them. The reason is that with allFX-Consult one approaches the Service Provider as a network rather as an individual, therefore ensuring better prices, flexibility and results.
Where is your business most applicable to; start-up or mature?
Both; any brokerage that comes to us, most definitely went through what we described in the Sales Department section, therefore they will require exactly the same approach whether start-up or mature. We will still need to evaluate, create reports, identify strengths/weaknesses, adopt any differentiation strategies possible and most importantly train. Our training is characterized by some as “sociopathic”, reason being the emotionless approach to who is in front of the trainer, whether that is a sales person or a shareholder. When the correct answer needs to be given, everyone’s the same, irrespective if they are the ones writing our cheques.
Usually if there is a problem with this approach, or we find ourselves stepping on people’s toes, then the project is doomed to fail, because apparently we’re not there to teach and/or grow with these people, but rather inflate egos and waste time.
How does someone connect to your network?
Primarily, any client that engages the services of allFX-Consult is automatically added to the network. This means priority in receiving business (IBs, Grey/White Labels, Traders) outside the scope of the services we previously provided to them, support with functions like recruitment, service providers, compliance, marketing and general Q&A. Our network consists of brokers, Service Providers and Individuals/Professionals that are within the network’s disposal for what’s needed.
Do you offer media selling?
Yes we do. Banner placement is available on only 2 pages of the website, that we target though campaigns and promotions:
- – Homepage (above the footer – 2 banners)
- – Institutional (top place below the main image – 1 long banner)
Description: Our website attracts ONLY forex industry participants (individuals & corporations) including but not limited to:
- Brokerages looking to set up their sales departments
- Brokerages seeking help on operations (marketing, payment solutions, compliance, BO systems etc)
- Grey/White labels evaluating options
- Investors looking into starting a brokerage
- Institutions looking into licensing options
- IBs & Traders
All visits to the site are targeted as per above description. allFX-Consult does NOT target mass traffic (just for numbers) that is irrelevant to what we do.
Important note: Due to the fact that a banner placement on our site enables the advertiser to have direct communication with what would be our potential clients, this placement is priced at a premium.
Send us an email to email@example.com for a quote and more information.