Over the next week we will be presenting a series of videos of the speeches and discussions featured at the London Summit 2015. If you were unfortunate enough to miss the summit, or did attend but missed out on a particular session, this is your chance to catch up.
Howard Bick is the Director for New Business and Legal at Optimove, a retention automation platform with offices in Tel Aviv, New York and London, employing 70 people.
This workshop is about retaining clients. As Howard puts it: “Traders are similar to gamblers- they don’t stop trading. They just find somebody who they can trust and somebody they feel comfortable with to trade. So someone’s getting their money- so once you have that person on board, the idea is to keep them.”
“Data is gold.”
We live in an era of ‘big data’. What this means is that businesses collect all kinds of statistics regarding their customers, potential, current and ex. It is important to utilize this raw information to develop winning strategies for data-driven retention marketing.
The Participants in Forex Trading and their Role in the MarketGo to article >>
In this workshop, Howard discusses how to extract relevant data and flatten it, segmenting traders based on behavioral attributes, incenting traders based on their individual desires:
“If I’m a trader that opens positions on eurodollars on Wednesday nights at 10pm, send me something that’s informative to what I’m going to do on Wednesday morning, not on Thursday afternoon…”
He explains the concept of treating marketing campaigns as scientific experiments, understanding the impact of every campaign on each trader. He notes that most traders are active on 2-4 different brokerages at the same time, which is why it is vital to intelligently focus resources on keeping them loyal to you.
Watch this informative workshop in the embedded link!