Despite the global slowdown, the forex trading industry seems unfazed in 2019. It looks like the forex trading industry will be the one that will sustain the world’s growth momentum in 2020 too. Can you imagine, every day in the forex trading market, $5.3 trillions are traded worldwide. And this is just 5.5% of the global foreign exchange market. So, forex trading is like a link that transcends the borders and reaches individual country’s economy. And looking at the determination of the major economies to boost the growth and let the economy flourish, the forex trading industry is set to grow remarkably in 2020.
And as the forex trading industry grows, countless new forex traders will enter the forex trading market and they will need reliable forex trading platforms. So, the brokers will also need forex CRM to meet the growing demand and reap amazing benefits. CRM systems such as Cloud Forex CRM are growing exponentially in popularity and are set to change the way sales is done in forex trading industry.
Global CRM Statistics:
As per Forbes, the global CRM revenue reached $ 120 Bn in 2019. It was $ 16 Bn in 2011 so, this is eight times jump in last 8 years.
CRM applications helps the businesses improve their sales by a staggering 29% and they boost the productivity of the sales team by 34%.
Around 40% sales teams, using the old sales methods using spreadsheets and manual approach, are now convinced of CRM technology.
Most of the new businesses (more than 65%), integrate a CRM system within first five year of inception.
81% CRM users access the CRM from multiple different devices every day.
74% CRM users are happy with the better access to the customer data and data analytics through CRM.
On an average, CRM has been able to shorten the sales cycle by 8 – 14 % through data analytics.
47 % sales teams using CRM feel that CRM has made a positive impact on the customer satisfaction and retention.
Because of the AI adoption in CRM, the industry is estimated to generate additional $ 394 Bn by 2021.
By 2021, AI enabled CRM will boost the global business revenue to the tune of $ 1.1 Tn.
More than 65% sales teams using CRM through smart phones, are successful in achieving their targets compared to 22% teams using conventional modes.
Forex trading industry is the truly 24 X 7 industry and forex trading never stops in the world. More than 170 currencies are traded every day but the top 7 currencies make up almost 85% of the global forex market transactions.
The top 7 most traded currencies:
US Dollar is the No. 1 traded currency with presence over 90% forex trade
EURO is the second most traded currency with presence over 33.4% forex trade
Japanese Yen is ranks third in the list of most traded currencies with 23% presence
British Pound is the fourth most traded currency with 11.8% presence in trade
Australian Dollar is the fifth in the charts with 8.6% presence in forex trading
Swiss Frank is at No. 6 with presence over 5.2% forex trade
Canadian Dollar is at No. 7 with more than 4.6% share in forex trade
The forex trading market is almost 12 times bigger than futures trading market and a staggering 27 times bigger than stocks (Equity) trading market. This explains the astonishing rise of the forex trading industry in the last decade. Despite being the most liquid market in the world, forex trading is set to cross the 2 Quadrillion mark in the coming future. And this has been possible because of the technology.
CRM, AI and Data Analytics are the foundations for the future of forex trading and forex broking industry. With the help of technology, the forex brokers now can get more traders on board, from all over the world. So, there is not doubt that forex CRM is here to stay for a long time. The next few years are going to be remarkable for the world economy and forex CRM will help forex trading industry to thrive even in difficult economic situations.
This is the correct time to foray in to the forex trading industry, not just as a trader but also as a forex broker. With the help of CRM it is now so much easy to manage the relationships with existing and potential customers. Cloud Forex CRM is the one CRM that offers you the best features at very competitive price. You can check out the Forex CRM prices here. Or you can contact Cloud Forex CRM for a Free Demo too.
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