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Your statutory Consumer Rights are unaffected. Within the world of financial websites, Investing. At present the mobile world offers a very interesting prospect and we have valuable insights that can help a lot of players in the market — especially brokers.
Historically we started out as a small operation focusing only on forex, and we learned a lot about how to handle media, SEO, and conversions. Looking back at it, the fact that we were always a step or two ahead of the industry with regards to how we understood the development of the industry really helped us to stay at the cutting edge and grow.
And within these steps the fact that we started with multilingual from the get-go was the key factor in how we got to be as big as we are today. If you look at the giants in the financial website world, they are divided into two main groups: Content is very hard to create at a high level in a multilingual fashion and on a global basis — you need a lot of local writers with local knowledge and the costs are very high.
This makes it very hard to be a global player. So who did succeed in becoming multilingual? Not the content writers but content aggregators. Finance, Google, MSN — they said we know technology, we know how to create a platform that receives data text, images and video in multiple languages.
And they became global players by taking content from here and there and completely shocked the industry. They surpassed the traditional content writers and are now by far the biggest players in the world in terms of online traffic compared to the most widely known names.
The reason for this is that the old established brands all came from the world of print publishing, and so they moved their content online — they do not look at it as online natives like us. They are looking to win the next Pulitzer prize or launch a new section on a subject they think shall interest readers. Yet we are looking at it in a technological fashion, in terms of traffic as an online business, we are also looking at monetization in a vastly different way.
The fact that we operate on a global basis allows us to target a huge potential market of five billion potential users and not just the English worldwide audience. At the beginning we developed sites for lesser spoken languages in Europe but given time we learned that we have better alternatives from a business point of view. For example, after eight years of operating in Finland we now have 5, sessions per day on the site, but after just over a year of operations in India our Indian edition now has over 55, sessions per day and the growth rates demonstrates that moving forward, it will be one of our biggest markets in just a year or two.
In Germany, the UK and the US there are respectable offerings and in France there are some solid platforms but as you leave the western world the competition offering is poorer. In the Russian language we are the largest platform, in Turkey we are the fourth biggest in the financial niche and growing fast. So we looked at this and took a pause. We decided to focus on adding countries that meet these terms: Currently it takes four minutes to load our Chinese language site on the mainland which is a non-starter for real time quotes, for example.
Another thing that we did is create local editions but there was a danger that it would negatively affect our SEO rankings. On the other hand, if you operate carefully you can hope to minimize your risk, and if you know how to successfully play around with it, it has a lot of benefits.
So the coin has two sides and you always hope for the best. Thanks to the multilingual approach and the local editions, I believe that we have a lot more space to grow. We only began to enter some markets with local editions in the last year and half so we have only just scratched the surface, and the growth factors are so great that the market potential ahead of us is insanely big. Who knows us in the US? I talk to people in lots of countries and people never heard of us.
This is even more the case in the mobile segment where, if you look at apps, there are simply no multilingual players other than Investing. Though it is no secret that mobile is taking over quickly, none of the biggest players are fully there — even Google, MSN and Bloomberg have only two or three language apps.
We have our entire arsenal of languages as apps. We have 21 languages and another one in development and way more than the 7 local editions over the web because in the apps the SEO rules of the web do not apply. As a result, we are the only player in town that is playing a truly global multilingual game.
As such we can get partnerships with mobile carriers and mobile producers as well as tablet and laptop makers like no other player can. These partnerships will greatly help our growth as they potentially bring millions of downloads rapidly and millions of users that will not need to download it at all. This is similar to the partnership that Apple has with Yahoo, where you can see financial news and quotes over a widget directly on the iPhone without downloading anything. Video is another goal, now in its infancy for us.
This is true for revenues but also for user experience — people like it. For comparison, our desktop offering is nine years old now. Though mobile is already leading the way and growing faster, I believe that users will always continue to use the desktop solution, because the trader finds his phone too small to be the hub of his working office.
Generally speaking, if you are not on mobile you will not be a player going forward. I look at players in our industry, publishers, and they are not there. Some platforms are done well but generally speaking I am amazed by how forex is lagging so far behind, and how no one realizes that this is where the world is moving towards, and moving fast. I analyzed why it happens and I came to the conclusion that publishers have not found a way to make money on mobile.
Some brokers by now have a decent mobile operation and marketing abilities and they have learned how to work with the play stores. We have said from day one that we will find a successful way to make money on mobile — if everyone readers and traders is using it, there must be a way to make it happen. Just look at Facebook — it was not financially successful until it cracked how to make money on mobile, and from that moment it really took off big time.
A few months ago we discovered a major breakthrough for our industry in terms of how to economically generate live accounts on mobile for brokers. This is a very beneficial revenue stream for us so to get to this point after such heavy investment of money, time, effort and patience it is very satisfying. No other publisher was willing to make this investment, so now it seems that our leading position is riding high.More...