As internet businesses, much of the marketing and sales models used by online brokers isn’t much different than that of other eCommerce firms. Examples include search based advertising, targeted marketing of new products to active customers via emails and social media, the use of CRM systems which integrate with website analytics and deployment of affiliate tracking systems. As a result there is an overlap of sales and marketing technology used by the forex and binary options industry and other web businesses.
One firm whose tools are being deployed by online brokers but also markets their technology to other industries such as eCommerce and eGaming is Optimove. A provider of automated retention and marketing solutions, Optimove’s products track customers from their acquisition to ongoing engagement. For brokers, Optimove provides a solution for the calculation of such reports as lifetime customer values, best performing marketing campaigns and client response rates to emails.
Adding features to their core marketing and retention solution, Optimove is launching today real-time triggers. The product provides online businesses the ability to enter automated messages that can take place after customers perform specific actions. Real-time messaging is currently most prevalent within the eCommerce industry where shopping sites can be configured to send customers messages such as incentives for free shipping if they add one more product to their cart, or discounts to viewers who enter their contact information but abandon a sale.
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Within the forex and binary options industry, real-time messaging is already a core product for brokers. Prevalent examples include popups within platforms about real-time economic data announcements, social trading notifications as well as automated social behavior comments from products like CPattern’s Guardian Angel and CorrSight’s Traders Compass.
What is currently emerging, and where Optimove’s new offering comes into play, is the ability for brokers to create personal messages related to client acquisition and ongoing deposit and withdrawal processes. Another recent example of real-time messaging systems related to deposits is Tradesmarter’s “Smart Bonus and Rewards” product which they launched at the Forex Magnates London Summit in November.
Explaining how they envision their product being used in the online-trading industry, Amit Bivas, Head of Marketing at Optimove, stated several examples to Forex Magnates including:
- A VIP trader arrived at the broker’s website for the first time in more than three months, brokerage will send them a welcome back bonus.
- A new trader’s account balance dropped 75% in less than 24 hours, brokerage will send them $100 bonus.
- A trader viewed a trending stock and did not open a position, brokerage will pop-up relevant content about the stock.
Explaining further in their public comments related to the launch, Optimove’s CEO, Pini Yakuel stated, “One of the holy grails of personalization is the ability to implement real-time, data-driven customer marketing. By building into our customer retention software a complete, end-to-end system for real-time personalized messaging, we have not only taken another great stride towards achieving the ultimate retention marketing solution, but we’ve also become the first platform to offer real-time retention marketing in such a sophisticated and easy-to-deploy manner.”