CRM for Brokers: Improve Your Sales Process


Written by:


What do newer business owners know about the Forex market? Such a sphere is fiercely competitive, and beginner brokers face a string of hurdles and headaches. On the other hand, progressive companies that provide traders with the ultimate functionality are welcomed by the community.

CRM as a crucial factor to overrun competitors

What is the key task for a newer FX broker? The overall number of Forex traders is about 10 million, although crowds of beginners continue to join this expanding industry. Newcomer brokers face a simple task to catch as many traders as possible.

Let’s clear things up. Traders are looking for brokerage companies that unlock access to the ultimate functionality. The more useful features and beneficial conditions are given, the better. On the subject of trading platforms, payment providers and other components, the difference is barely visible. The majority of brokers use Meta Trader 4 and Meta Trader 5 platforms. As for payment providers, FX brokerage companies implement mainly the same channels.

This said, Customer Relationship Management systems are among the distinctive features of a broker. CRM software is responsible for a string of important features, including the improvement of your sales process. What is the interconnection between a brokerage company’s sales and CRM system?

Also Read  How to finance small businesses?

The impact of a Forex CRM on the sales process

High-quality CRM systems contain a wide range of features, and a lot of them are directly related to the improvement of sales processes:

1. Detailed sales information:

Sales support is among the primary features of a high-level Forex CRM system. Such software provides a business owner with detailed information about leads – i.e., you access their contact information, their place in a sales funnel, and other important information to react timely. Furthermore, high-end systems inform brokers about where leads originate. This information helps business owners to accentuate their efforts on certain channels bringing better results.

2. Clusterization of clients:

A top-rated CRM for brokers is responsible for the clusterization of leads and active clients. They are broken down into several categories, according to their geographical location, trading experience, and other principles. The importance of the clusterization process is exceptionally high. Business owners understand which strategies are the most effective for each cluster, as traders need to get the most convenient interface and advanced technologies. Otherwise, they may easily switch their focus to your competitors.

One more important impact of the clusterization feature lies in the possibility to access extended statistics. The marketing department understands who a company’s target audience is to either work out specific promotion strategies or to change them, attracting a more variable audience.

3. Quick live reports:

High-level CRM software grants business owners an advanced reporting system. Brokers may upload real-time reports related to trading statistics, leads, profits, etc. This is why you may react to negative stats instantly, introducing some essential changes. For instance, reports may help you while testing new promotion strategies or functionality updates.

Also Read  3 best practices to make the most out of a crypto trading platform

4. Automation of sales processes:

CRMs automate your business processes and minimize costs. This is why the process of transforming leads into active traders can be mostly automated. Specific algorithms increase the efficiency of sales processes. When beginner traders face headaches and hurdles, they get access to high-end customer support and qualified agents are ready to remove all the problems.

5. Multi-level partnership:

This feature is partly related to the sales process; high-end trading CRM systems are responsible for the appropriate and effective management of the multi-level partnership. The software checks whether fees, rebates, and other payments are sent in a timely manner to partners. Furthermore, such a solution integrates all the systems to make a brokerage company operate as one large mechanism.

The more technological and eye-catching your CRM software is, the more chances there are to attract crowds of new traders. Meanwhile, beginner brokers need to understand the mandatory steps of implementing a Forex CRM that entirely corresponds with their business needs.

Stages to find and implement FX CRM solutions

What are the mandatory stages to implement Customer Relationship Management software in your brokerage company?

1. Clear up your business goals.

Your search for a high-end FX CRM should start with a clear understanding of your business goals. For instance, think over WL solutions you are going to implement, possible partnerships, etc. Take your future horizons into account for not to face a problem when your software doesn’t correspond with newly-added trading platforms.

2. Find a reliable provider.

With tens of companies represented on the market, brokers are in demand of trustworthy providers that offer high-quality innovative software. Furthermore, package solutions seem to be the best matching for beginner FX brokers. Get a Forex back office and trader’s room in order to have everything adjusted to your clients’ needs.

Also Read  Reasons Why Outsourced Payroll Is Right For Your Business?

How to find a reliable FX CRM provider? For instance, B2Broker is a company that specializes in the constant search of eye-catching advanced technologies to make an essential push for your business. Sometimes, it’s enough to provide good solutions, but this company is paving the path towards excellence and perfection. B2Core, a product designed by B2Broker, embodies convenience, the highest productivity, and maximum user-friendliness as the leading Forex CRM solution.

3. Select the most effective package.

Reliable providers don’t force a broker to purchase all the features, no matter how useful they are in a certain case. For instance, B2Core offers business owners three packages for them to select the best matching solution. Basic, Advanced, and Enterprise packages contain a string of features so that every broker can spend money effectively. Look through the list of features and then think over your business goals to find the interdependencies. If necessary, consult with B2Broker experts.

4. Get the chosen solution implemented.

The last step includes the implementation of the chosen solution to integrate a CRM, trader’s room, and other components with your company’s functionality. Qualified experts need to ensure that everything operates correctly.

Forex CRMs are among the key-note components by which you can obtain advantages over competitors. This is why you should never neglect the importance of this step. Offer eye-catching solutions to convince leads and active traders your brokerage company is the best one to sign up for.