Almost all forex brokers these days use a CRM to manage their traders' valuable data and information. The use of a forex CRM helps the sales team communicate with and keep track of their potential leads and existing clients. Also, it increases the productivity of the sales team. The Forex CRM has to be very competitive and ready for upgrades as per the requirements and technology changes. Nowadays, everyone, be it a startup or an established broker, wants the best possible customer experience in the industry. But knowing which software or tool to invest in in the coming years is a big challenge these days, as there are a variety of CRMs available on the market.
Here are the new trends emerging in the coming years that would make best Forex CRM cutting-edge software.
Already, the Forex CRM that’s available in the market these days is automated only, but in the future, you can expect more encyclopedic and mechanized versions. A broker would be able to automate the tasks that he previously could not, like solving the common issues faced by traders automatically. Because of this, the support team can focus on other important tasks.
Merging different functions:
In the modern age, the organization's work is not limited to a specific department or customer. All the teams, be they sales, marketing, accounting, or back office, have to interact, cope with internal and external activities, and communicate directly or indirectly with customers. Bringing separate departments together makes the organization more robust and more consistent.
Traders' specific approach:
In modern times, retaining traders would be equally important as bringing new business to the organization. By observing the trading patterns and behavior of existing traders, brokers can retain them without spending large resources on attracting new ones. This is possible with the huge data handling capacity of the Forex CRM. Brokers can analyze and use the data from the CRM to create a trader-specific approach. Such a solution leaves traditional loyalty programmes or simple promotions far behind in future CRM trends. Brokers can create their own specific strategies to attract and retain customers on their portal.
Help yourself (self-service) environment:
From a trader's point of view, it would be tedious to take help from the broker often for solving the most common issues or frequently occurring errors. Everyone wants to solve such problems on their own. The broker’s need is to make a list of tasks that can be transformed into do-it-yourself or self-service tasks. The future CRM would take these needs into account and satisfy the broker with chatbots, customer portals, etc. where frequently asked questions would be answered in terms of videos, images, and voiceovers.
Integration of advanced tools and technologies:
Already, a forex CRM is a robust mechanism for the brokers to manage their vast client base, but in the future, as an expansion, CRM can be integrated with other useful software like a risk management system and many more like it. Copy trading and PAMM/MAM would bring more benefits to the traders when it comes to making profits in their trades.
Connect through mobile devices:
Many Forex CRMs offer mobile versions of their client cabinets, but it is rare to find one for the back office. With a CRM mobile app that supports the back office, a broker can manage his data on his fingertip anywhere and anytime. This could take the Improve your brokerage business to a new dimension.
AI integration in the Forex CRM would be the most prominent development in the brokerage business. AI can focus on improving customer support, upgrading sales, and retaining customers. With an AI-powered Forex CRM, you no longer have to analyze leads manually. The system can automatically gather information through chatbots and emails to determine the specific needs of each lead. Also, it helps in observing the forecasts of your yearly sales. The future of technology is AI, so in the future, you can expect AI-powered Forex CRMs to ease your tasks.