Impact Tech SOTERIS CHARALAMBOUS Head of content at Impact Tech
What CRM do Forex businesses need? Increasing competition in Forex requires a purpose-built platform like Impact CRM to meet the demands of the industry
Nowadays, the challenge of keeping traders happy and loyal to your Forex brand is harder than ever. Every Forex business needs to ask itself if the CRM they use meets the demands of the industry and offers a competitive advantage. As with most retail businesses retention is a never-ending challenge in Forex while increasing churn has caused the closure of many brokerages. One of the most important success factors in business today is the customer experience (CX). According to research by Walker consulting it is going to be the key differentiator for most businesses by 2020. In fact, customer satisfaction will be more important than price or product in purchase decision-making. Improving CX depends on how well a business understands each customer’s individual needs and how effectively they communicate during the customer journey. By falling short in CX Forex businesses miss acquisition and upselling opportunities, achieve fewer
GAME CHANGERS Issue #23
conversions and suffer increasing churn. To achieve this level of understanding requires the collection, processing and analysis of customer data. ImpacTech’s Impact CRM has been built to meet the demands of the Forex industry. It is the collection point for all customer data and uses artificial intelligence (AI) to process and analyse this data to enable a Forex business to deliver personalized customer experiences at scale along every touchpoint on the customer journey. By channelling all the data from phone calls, live chat, emails, chatbots, PPC and social media campaigns through Impact CRM a Forex business gets the most accurate understanding of each trader. Additionally, data regarding deposits and withdrawals as well as payment records in relation to transactions can be crossed, analysed and matched with marketing activities. These insights give predictions on where to spend marketing budget to reach campaign objectives more efficiently.
