4 Reasons to Automate Your Brokerage Conversion Process

The benefits of automating your brokerage’s conversion processes allows for regular contact with prospective clients.

This article was written by Adinah Brown from Leverate.

From the i-bot to the self-driving car, there is hardly of sphere of human life that is untouched by the move towards technological automation, and the financial sphere is certainly no different.

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In a recent article published in Forbes titled “How FinTech Automation is Changing the Face of Business & Finance”, the author explains that the financial sector is actually one of the most pre-eminent examples of where decision makers are applying the guidance of automated systems in making data driven decisions.

This is particularly the case in relation to marketing and achieving sales targets where an automated conversion process will more efficiently complete data gathering tasks, more accurately analyze efforts and in turn, optimize the user experience of clients contacting your brokerage. Yet, there are even more benefits to conversion automation tools and the processes that they use to achieve their stellar results.

Improve your brokerage’s CPA

The benefit of automating your brokerage’s conversion processes allows for regular, but non-aggressive, contact with prospective clients through messages that are intelligently crafted and primed to deliver the perfect clickbait.

Marketing automation tools enable a brokerage to increase conversion and retention rates whilst reducing staffing and resource costs. Automation has the means to keep your cost-per-acquisition low and thereby improve your return-on-investment.

To achieve this, you need to use a tool that has proven automated funnel flows, which are pre-integrated with events from your CRM and trading platform. Ensure that the content that goes through your marketing funnel can be adjusted to each of your client segmentations.

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Keep to regulation requirements

As of February this year, CySEC, a popular regulator for the EU region, sent out a circular notifying brokerages under its jurisdiction that they were no longer allowed to engage in aggressive marketing and sales techniques.

This meant no more bonus offerings, no more frequent calls, no aggressive language and no more pressure tactics. CySEC is hardly alone in this move to heighten marketing and sales practice standards, with other EU regulators to follow suit, such as the UK’s FCA, Germany’s BaFin and France’s AFM.

An automated conversion process mitigates all of these restrictions, with techniques that are intuitive rather than aggressive and based on best practice rather than desperate practice.

Use tools that rely on communication content as the primary medium of contacting clients, such as email, push notifications or messaging promotions with enticing clickbait.

Breaks down time barriers

Contacting prospects and clients at appropriate times within their time zone and within their language, can come at a significant cost to personnel. It requires a diverse pool of multilingual employees who are willing to work around the clock. An automation tool enables you to increase your brokerage’s reach, as it is not restricted to time zones or limited to any one language.

Use a tool that is adaptive with marketing material that can be localized to regional markets. This includes messages that can pre-scheduled and sent out at designated times and equipped with automatic translation to a variety of different languages.

Is not irritating

The worst thing you want to do is drive prospects and clients away from your brokerage service by irritating them with phone calls when they may be at a family dinner or in a meeting. An automated conversion tool removes the possibility of catching clients at a bad time because the processes tend to be through email, SMS and push buttons which are seen by the client at a time that is convenient to them.

Use a tool that has engaging but non-intrusive messaging leads that will enhance the longer lifetime of your clients, who once they trust your service sufficiently, will also be inclined to make larger deposits.

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