New Forex CRM's Are Changing The Game for Brokers
A Forex CRM is an essential tool for all brokerages, given the industry's growing competition and demands.
Nowadays, keeping traders satisfied and loyal to your brand is more challenging than ever and needs more complexity. Long gone are the days when an essential customer experience management tool and a deposit bonus were enough. PopcornTec CRM has been built from the bottom up for the forex and online trading industries.
As in any competitive sector, an organization's ability to distinguish itself goes a long way towards determining success.
The level of customer service will be the main differentiator for most companies by 2020. According to the Walker Consulting report, customer loyalty is more important than the price and the product.
Using a CRM is better than having no tools to handle customer service. However, given the increasing competition requirements in the Forex trading industry and stricter regulations, and the need for KYC and AML, the brokerage needs to use the purpose-built Forex CRM like Impact CRM. The Popcorn One Box solution handles all these demands and more.
If you want to thrive in an ultra-competitive forex market, everyone, not just highly experienced brokers, needs to do two things. They must understand the customer's requirements and, secondly, understand how best to interact with the customer in their dealings with them.
Suppose one of these two things is not achieved. In that case, it is likely to result in many lost opportunities in attracting new customers and a decrease in conversions, and, eventually, a negative effect on earnings.
To try to fix these two problems head-on, you need to scrutinize customer data
This is where the CRM effect comes in. It serves as a point of aggregation of customer data to make the most of your customer data. It makes use of Artificial Intelligence (AI) and a highly sophisticated Machine Learning system, as well as Deep Learning capabilities, to evaluate the data obtained from your customers.
By providing an AI-driven CRM, the Popcorn CRM enables all brokers to gain a specific understanding of the needs of each trader. It would then use what is known as "predictive analytics" to give the broker an idea of dealing with them.
To obtain the correct data, all data must be channeled from the customer's dealings with brokers through media such as traditional telephone calls, live chat facilities, and other communication methods through Impact CRM. While maintaining an accurate record of communication transactions is essential, it is crucial to record other items such as depopulation. This helps your marketing spending to be better targeted.
Through using this system, the broker is in a strong position to make the most of the new leads that come their way. You will soon find that your cost per qualified lead is decreased, helping both CPL and CPA.
If you can provide a more customer-oriented service, there would be more conversions as you can better understand the customer. This leads to more extraordinary and more profitable cross-selling, and the chances of the sale are also enhanced. By taking a more holistic approach to the clients, increases LTV, and reduces churn dramatically.Back to blog