Website & CRM & Client area
Part 2/3
CRM points to how a business operates its connections with potential customers. A CRM system essentially gives a central dashboard where businesses can save customer and prospect data, follow client interactions, and share this information with co-workers. It provides businesses to manage relationships with customers, supporting the business to grow faster.
In a CFD broker, CRM integrates with the trading platform (MT4, MT5, cTrader, etc.), the client dashboard, email/SMS service providers, social networks, the website, and more.
What a CRM does is accumulate all information in one place, and gives the possibility to edit or to utilize the accumulated data. A few samples that an admin should be able to do with the CRM:
- Sign up a potential client
- Bann clients!
- Change account settings. (password, name, leverage, etc)
Why is it so important to have a CRM?
Let’s say a customer requests to change his name on the trading platform. There are two ways to do that:
- Through the trading platform admin access which is not recommended, I’ll tell you why in the following.
- Through the CRM.
The platform admin access contains sensitive information and settings that smallest operational error or neglect can cause chaos in the trading environment. Therefore admin access is strictly limited to regular staff. Even a company's shareholder or in some cases the owner has limited access if he or she doesn’t carry enough knowledge about the admin platform.
The CRM provides staff with the access that fits their duties. A salesperson who contacts potential leads can see the names, surnames, cell phone numbers, and email addresses. It is not for a salesperson to change a client’s name or their leverage since that goes to the supporting team or the IT department.
With this policy, the company narrows down the neglect to its minimum. So if you wish to start your forex broker, you need a good CRM.
CRMs can be purchased, subscribed, or self-developed. Self-developing a CRM takes a prolonged time, even if you possess a professional IT team. But it is recommended to create the CRM that suits you the best.
CRM is the heart of managing a CFD broker and it should expand as the company grows
For instance say you want to sort your clients based on if they made a transaction or not, or you’d need the data of last month’s transaction or trading volumes, or who is the biggest client, etc. A good CRM must be able to provide the admins with correct information, and good data has a major role in planning a winning sales strategy.
For those who wish to start this business, I suggest starting a year earlier to develop the CRM.