Once quoted by Bill Gates regarding CRM that “How you gather, manage and use information will determine whether you will win or lose.” Don’t you think this sounds perfect in today’s era when the market is full of participating members and the business environment has become global? Thus, it becomes difficult to maintain the customers and the target sales in such a competitive world. The forex brokers must re-consider the business strategies when it comes to managing customer relationships. With the efficiency of CRM software, that the Forex trading industry can achieve business automation at once.
Furthermore, the customer has the power to maintain or ruin any brand or any business. Customer experience and satisfaction become the key which can differentiate between business. To improve the customer experience, having a Forex CRM is the appropriate solution.
CRM is software that brings everyone together and helps you to coordinate with your sales team. Therefore, it aids in optimizing your interactions with existing clients and potential new leads. Modern days are all about data and valuable information. The approach to a business prospect becomes easy with the use of CRM. The sales or service person becomes aware of what the customer is doing. For how long he has spent trading and finally how happy the customer is with his broker.
The CRM that you choose for your brokerage business will be able to deal with Role management, IB levels, and workflow. The systems available in the market offer many language options, a variety of reports, many payment gateways, and multi-currency options. Always opt for the appropriate one based on your requirements. Therefore, always chose the CRM based on the business size.
To take our discussion further, you should note different kinds of CRM platform used by a startup brokerage business to a big brokerage agency, and they are as follows:
CRM for Brokers with Start-up business
If you are a broker with less than 1000 users, make sure the CRM you choose would have at least all these features as mentioned below.
- KYC Approval
- Live Account
- Basic IB Structure
CRM for Brokers with growing business
For the brokers who already have crossed the start-up and now having client base of up to 3000, you must definitely have the basic features as mentioned for start-up brokers as well as some extra features as below:
- Advanced IB
- Dynamic Reports
CRM for Brokers who are already established
As an established forex brokerage agency, you may be having more than 3000 users across the globe. Thus, your CRM software needs to have some exciting features as you have to manage these many clients, and it is not an easy job if you do not go for the right CRM. The CRM comes up with features as follows:
- Role Management
- Dynamic IB profile
- Real time Widgets
- Ticketing Module
- Client Cabinet Mobile Application
Sometimes selecting a suitable Forex CRM can turn out to be a challenging task for the Forex broker. One always needs to understand the customer’s needs. You should be able to communicate with the customer efficiently throughout the association. You must have a strategy to develop a CRM for your firm. The choice of CRM may vary based on how you would like to serve your customers and what you like to deliver on that task. With such discussions, you will be able to decide whether you.
- Need your own customized CRM or
- You need to buy a package and customize it as per your requirements or
- You can have a service which you can rent in the cloud on any other company’s servers.
At Trade Soft, any broker, be it start-up or growing or established, can find a suitable solution for their requirement. So, if you are looking for a better customer relationship, better customer satisfaction, and a happy client base, our Trade Soft CRM is the solution for you