Covid-19 has had an immense impact on all industries across the world, mostly in a negative way. There have been a few fortunate industries and verticals that have been positively affected and the forex industry has been one of those lucky few.
Due to the high volatility of the markets and the closing of retail and other outlets such as sports betting, over the past few months brokers have seen an incredible increase of organic traffic and activity, with no special efforts on their part.
However with the world now starting to gain control of the virus and the quarantine getting looser, brokers must take action if they wish to avoid steep drop offs in their active trader base and revenues. What actions must trading companies take in order to both retain the newly acquired traders and increase their lead conversion? The answer is to implement a real-time marketing automation platform that will take advantage of their data and create the most personal customer experience for their traders.
The power of real time automation is that it takes out the guesswork of your marketing and sales efforts, enabling you to engage with your traders based on their historical and current behavior.
Now more than ever brokers need to engage with their traders in absolute real time, responding to their actions, the market events and offering the most updated and relevant contextual content. This can be the difference between nurturing clients or losing them.
But it’s not just enough to respond fast. The response has to be data-driven, therefore the automation platform must be data driven and respond in real-time to the customers based on all the data.
So what does real-time personalization and automation actually incur? Is it just a matter of the response time? Microseconds, seconds, minutes, hours? Or is there more to it in order for it to be really effective and a true revenue generator?
In order to be able to respond contextually with the right content, trading companies have to utilize their data.
While the road to success is paved with data, there are a lot of pain points in data collection within the trading industry, such as the multitude of online and offline sources, trading systems, CRM, market events, website, call centers and more into one centralized system and more.
The Solitics’ platform connects to all the distributed data sources, works with the raw data and makes it available in real-time. The integration is seamless and does not require any special customizations from the brokers side.
The data is being streamed in real time to enable interventions in lightning-quick time, allowing trading companies to respond contextually to each trader within 1.8 seconds!
Furthermore, based on all the data and actions, Solitics sends the most relevant content at the right time. Thus, completing the triangle of time, context and content.
Now brokers can create personal customer journeys, promotions and campaigns on the most personal and effective level. They can respond within seconds or minutes to a potential depositor who is not depositing by automatically raising a call from a broker, raise pop-up messages with an offer to traders who have just lost, send recommendations and articles live to traders based on live market events and much more – all seamlessly and automatically.
When a broker can act upon all their quality data, they can reach out to traders in the most personalized way – reflecting back to them their interests, concerns and trading aspirations, maximizing each customer’s experience which eventually makes them end up with clients that are significantly more lucrative.
Customer relationship management (CRMs) is the command center for organizational growth.
As analytics professionals know, it’s incredibly important to have accurate and reliable data. Virtually every business decision is made based on data.
Reactivating dormant traders or fostering personalized engagement is your last chance at retaining them.