7 signs that brokers need the financial CRM system

05/21/2019 14:14

When do brokers have to use financial CRM?

No matter how big your company is, the days of managing potential customers and customers through spreadsheets, WeChat, QQ, paper, etc. are over.

At the beginning of your brokerage business, it is best to have a financial CRM system to achieve a complete task processing process and efficient IB management, customer management.

If you don't do this, as the business grows, you will soon find yourself in trouble.

When you encounter the following 7 signs, you need to take financial CRM seriously:

1. It is difficult to assess IB quality and find quality IBs

The IB model is one of the most important ways to get customers in the retail foreign exchange market.

Finding quality IB is a core theme that many brokerage owners have long been concerned about.

However, with the increase in the number of IBs, it is hard for brokers to assess IB’s quality. Some bad IBs can bring risks to brokers.

When you don't know how many direct customers each IB has developed, how is the quality of IB's direct customers, how many people are depositing money, and how much is the transaction volume? It will be difficult for brokers to assess the quality of the IBs.

The financial CRM system can automatically count the number of direct customers developed by the IB through the exclusive promotion of the link.

At the same time, the trend and subsequent status of the number of direct customers can be displayed graphically.

Financial CRM provides data support for brokers to eliminate inferior IBs and find quality IBs.

2. The rebate rules are complicated, and manual calculations always go wrong.

If your IB system is large, you must have experienced the distress of multi-layers rebate calculations.

The rebate rules are not only complicated, but they can also change frequently.

Employees spend a lot of time calculating rebates and often make mistakes!

Using financial CRM can help you achieve automatic rebates, freeing you from manual calculations and improving work efficiency.

3. It is difficult to quickly understand the customer's overall picture

The particularity of the financial industry, in addition to basic customer information, such as name, contact information, etc., as well as account information, such as account number, password, account type, transaction records and so on.

The complete solution of financial CRM includes opening account and the management platform built around the customer so that the broker can understand all the information of the customer at one entrance and quickly understand the whole picture of the customer.

4. Unable to analyze marketing channel quality

Marketing activities are an important way for brokers to market.

But the ads have been played so much, the money is spent a lot, how many customers are brought?

What are the customer conversion rates for different channels?

Which channels are worthy of promotion and which should reduce investment, financial CRM can provide data support for the channel quality assessment of brokers.

5. Don't know which part of the customer conversion needs to be optimized.

You may find that there are quite a lot of new customers who recently open account, so you are happy.

Until the end of the month, the statistics show that the new account opening customers did not bring you real income!

They may be stuck in the deposit, or they may have deposited, but they are not trading.

How do you know which stage needs to be optimized and needs improvement?

Financial CRM's customer conversion funnel can help you count customer conversions in different segments, allowing you to quickly identify the conversion stage that needs improvement.

6. Want to start controlling the permissions of the platform role.

In the beginning, you may have several roles, be a boss, and be customer service. You have to look at the customer information, and you will do the task review.

As the business continues to grow, the number of customers grows, and the role of employees begins to have different responsibilities.

You can't have all the people with the same admin rights.

Customer service is customer service, sales are sales, finance is finance, and each person should have specific permissions depending on their responsibilities.

At this point, you need a financial CRM system which can customize permissions, optimize internal management process, and protect customer data.

7. Want to know the status of platform operation data at any time.

Many times, due to the lack of automated technical means, brokers are unable to keep track of the core operational data of the platform.

How many customers are there on the platform now?

What is the amount of deposit?

What is the monthly trading volume?

These core data often require manual summary reporting.

Financial CRM visualizes the platform's core data through business intelligence(BI)tools, and can also send data reports to brokers every workday.

The person in charge of the platform can keep abreast of the operation status even if he or she is not in the company.

Love Financial CRM?

About Us

Subscribe LeanWork's official account
Acquire the latest news and register our latest event
Subscribe SaaS Research
Acquire the latest and most authoritative SaaS news