How customer service is important for a forex brokerage?

Customer experience has become more and more important over the years because of technology. Be it a company or even a government, people-centric strategies are a must.

What is the one thing that affects credibility of a brand?

Positioning and promotions may help to an extent but at the end of the day, CUSTOMER SERVICE is the biggest test. Many-a-times, the customers stop using particular products/ services if they have a feeling that they are being ignored.

The same is true for forex traders and forex brokers. The forex traders are smart people with a keen eye on world economy and technology trends. They are aware about the possibilities that technology & internet connectivity offers. If a forex broker fails to leverage them, the traders are bound to go away. Using software such as CRM, tools such as chatbots, and new-age connectivity platforms like social media, one can provide the best customer service to the forex traders.

In fact, some of the biggest success stories in business have one thing in common – focus on customer service. This is the foundation on which a brand’s credibility is built.

In this blog, we have compiled the top 5 ways of providing the best customer service.

1. Create a unified platform to connect with customers

The forex traders should be made aware about the ways to connect with the broker. It could be social media, messenger apps, email, toll free number, office desk – all the mediums through which the customer could connect, should be unified through a system. There should be regular analysis of its effectiveness and any shortcomings must be addressed promptly.

2. Use the latest technology to offer your services

Digital presence plays a very significant role in defining the credibility of a brand. Providing information through a website, offering services through an app in their phones, ensuring seamless operations through cloud – these are the ways of creating a great customer service story. Technology is there, a brand just needs to be aware about how the customers think.

3. Give prompt & humble response to the customers

Be it existing customers or potential customers, when they communicate with you, they expect a prompt response. If they don’t get it, they might look out for other options. The forex traders connect with the broker if they need more information or get an issue resolved. These days, Google lists the business based on their response time.

4. Equip the employees with CRM & use automation

Managing relationship with thousands of customers cannot be done manually. Today, we have technology to assist us though. Best CRM software – such as Cloud Forex CRM – helps a broker in streamlining all the tasks related to customer relationships. Also, certain repetitive tasks can be put on automation, so that employees can focus on important issues.

5. Go the extra mile to ensure best customer service

Whenever a trader reports an issue or gives feedback, the broker should take it positively and act on it. But along with that, if the broker goes the extra mile to compensate the trader or reward them for their contribution – that is an extra mile. This way, a brand can strengthen the bond with customers and make the relationship for life.

Compared to advertisements and promotions, the word-of-mouth creates a bigger impact on a customer’s mind. When the traders discuss among each other and appreciate a particular forex trading platform, it works wonders! Good customer service always prompts the traders to endorse and promote a forex broker in their network.

Cloud Forex CRM is one of the leading CRM in the world, used by more than 50 forex brokerages. Cloud Forex CRM helps you manage roles in the team, generate dynamic reports, manage tasks using ticket supporting system, get real-time status updates, and execute all the other tasks in a timely manner. It is the best way to manage relationships with the customers and grow the forex broking business in an organized manner. Request a free demo of Cloud Forex CRM or get in touch with Calvin on WhatsApp, for more information.