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, the evaluation, team training 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. 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, our service relieves the broker from 75% of that cost. Under our care, the newly formed Sales Department will be based on industry standards and analysis – not through our individual experience.
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Brand NEW | Remote Sales Management (RSM) program
How to set up a Sales Department
How long does it take to set up a complete Sales solution?
allFX-Consult tends to eliminate the “noise” created by parts of the business that once halted and/or delayed new processes from being used. This is the most time consuming process and hence mentioned here as well. Our aim is to tackle on anything and anyone that has something to do with the sales process and either remove, amend or add on top to make the process highly efficient.
A saleable product is derived by a solid business plan that should already be in place identifying competitors and the target audience we’re looking for. If this is not in place, we will take care of this as well.
Past these necessary amendments, the training period is straight forward and once in place, our trainees (mostly with no experience at all) will get on top of those leads as if they’ve been doing this for a while.
Everything we do is structured and time framed, communicated before agreements are signed and executed with precision. On a case by case basis, these frames shift, so lets discuss your challenges and identify your individual time lines, product value and targets together.
Why would a brokerage choose outsourced help rather than an in-house professional?
Reason 1 – Unlike hiring full time, we 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 we believe the business plans are not feasible), we will save everyone valuable time and we will not on-board the project.
Reason 2 – Once we on-board our strategies, the training does not only include employees and sales people but also the management on how to continue utilising 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.
Reason 3 – The distribution of business through our Institutional program, with our clients receiving business (as this comes to us) as high priority, a program that gives back to this amazing community that supported our projects for so long.
Although we don’t get many such inquiries to distribute per year, through these classification systems we created, we try to be as fair as possible with who gets what.
That’s how we ensure that anyone who engages the services of allFX-Consult is a lot more than just 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 centres, 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 that generates and handles leads”, so it’s important to make clear that our setup falls under the strict supervision of the broker, at their location, as an added value service that aims to strengthen the sales team’s core and approach.
Our training methods are quite the opposite of those call centres use, since we aim to create proactive thinkers thus avoiding empty promises to prospects, offering investment advice or aggressive sales tactics.
Talk with us and see for yourself why our training is the No1 go-to training in the world.
Do you produce and/or sell forex leads?
We do not produce, distribute, redistribute, buy and/or sell forex trader leads.
Why choose allFX-Consult to set 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 its very difficult to tell if they can deliver or not.
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, complementing the structures needed to start a forex brokerage.
We always stay below market costs and strong supporters of doing what you know. In the same manner, we delegate responsibilities to our providers according to what’s needed and who does the service best.
Is allFX-Consult 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 either side). If the client wishes to maintain a more neutral relationship (just an introduction), this is also a decision that we will honour and respect.
Can the RED, GREY and BLACK packages be customised?
Absolutely. Nothing is set in stone when it comes to our service, pricing and approach.
Although its important to have clear view before deciding your next step, in many cases our networks don’t really know what they’re looking for, so the packages serve as a solid starting point. Our initial discussions usually create new ideas and open pathways that weren’t there before therefore.
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Do you give discounts if we choose a second package later?
Yes. We give discounts, combine packages with reduced pricing, add more services within existing pricing, we try to help anywhere we can (always within reason and depending on the complexity of the case).
For example combining the Start a Forex Brokerage packages with the Remote Sales Management packages, has a larger effect on the pricing because the latter aims for a medium/long term relationship. Thus, the overall cost is reduced significantly.
To discover RSM:
What is Class A, B and C classification system?
In order to explain better how we distribute Institutional business, and how this reflects on our corporate packages, we created a simple classification system for everyone’s easiest convenience.
Class A – High priority – most of the times immediate referring of business (as soon as we receive it).
Class B – Medium priority – After we exhausted our obligations to our clients in Class A list, we start sending business/inquiries/ to anyone classified as Class B.
Class C – Registered brokerages on our site that we confirmed are able to deliver services needed and match the inquiries we have. Goes without saying that Class A and B needs to be exhausted before sending anything to Class C.
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
- Traders
Send us an email at partners@allfx-consult.com to find out more.
How can someone get Institutional Business from you?
A client that engages any of the services of allFX-Consult has priority in receiving business (IBs, Grey/White Labels, rarely traders) outside the scope of the services previously provided to them.
Whether an actual service or a banner placement on our website, it’s an engagement of service all the same.
If you don’t know about our services, make sure to check out:
NEW Remote Sales Management (RSM) program
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 promote the allFX-Consult services through various online/offline channels and generate a number of inquiries.
Many times we have business (Forex IBs and White Labels) to distribute and we look outside our current client network for potential partners that we could have a long term relationship with.
It costs nothing to register your brokerage on the site. On the contrary, with just a small registration, 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?
Discounts and packages apply on the spot depending on the case we’re handling and the status of the brokerage.
Send us an email at info@allfx-consult.com if you would like to discuss better pricing on any of our products.
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.
Important to note that we don’t “handle” people based on their titles like most businesses do. When the correct answer needs to be given, everyone’s the same, irrespective of who’s writing our cheques.
So established and new brokerages as well as networks that want to start a forex brokerage are welcome to have a talk and find out exactly how we do business.
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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 info@allfx-consult.com for a quote and more information.
