Top Tips to Acquire, Engage, and Retain Traders in 2023

Around 73% of businesses claim that maintaining reliable and relevant customer experience is critical to business performance.

Around 73% of businesses claim that maintaining reliable and relevant customer experience is critical to business performance. This includes the first time a prospect comes in contact with the business and continues through the customer’s lifecycle, even to the way in which they part ways. A consumer is more likely to give a positive testimony for business if their exit remains hassle-free even though they decided to leave. So, a brokerage must maintain a consistent and exceptional trader experience to improve acquisition, engagement, and retention on the platform. No wonder that as many as 89% businesses compete solely on the basis of the customer experience they offer. Here are some tips to give your traders a unique and valuable experience.

Keep Your Website Ready

The website of your brokerage is the face of your brokerage online. Make sure it is always updated and mentions the latest features and facilities you offer your traders. Additionally, honest testimonials and trading activity statistics help brokerages improve conversions. The website is the second-best marketing channel, after social media. Consider using landing pages to accelerate filtration through the sales funnel.

Market Right

Marketing builds brand awareness and boosts recognition among the target audience. An omni-channel presence with well-designed and actionable content goes a long way in building a brand. A brokerage with content that can translate into trading opportunities is highly valued in the trader community. Personalised communication and multilingual content have the power to increase customer engagement. Advanced technology tools that help automate content generation and translation are highly effective in boosting brand outreach. Use appropriate channels, like short articles, videos, blogs, social media posts and interactive webinars, to make your presence felt. In fact, carefully crafted content and its analysis can help you know a little more about a prospect with every interaction.

Provide Actionable Insights

More than 70% of new traders  end up losing money and quit within months of onboarding. The primary cause is their lack of knowledge and experience. A brokerage platform that provides educational content and actionable insights for all levels of traders and assists them with demo accounts to practice and build a robust trading strategy can benefit from better retention.

Value Your Existing Customers

Loyalty leaders in a business grow revenues 2.5 times faster than their peers. This is because loyalty affects all sections of the sales funnel and consumer activity within the business. Word of mouth from a loyal customer can significantly reduce your acquisition costs and such a customer is bound to be more active on the platform, enhancing your rate of engagement. Daily interactions with personalised messages and services can ensure they stay with you longer. Extensive personalisation in offering loyalty rewards can improve revenue per user by 166%! 

Learn Why They Are Leaving

As disappointing as it may be to see customers leave, it is still a great opportunity to learn what you could have done better. Are they leaving for better pricing or the lack of trading expertise, were they expecting more insights or a better user interface? Getting their inputs can help you stay abreast of customer expectations and is an opportunity for your brokerage to improve its services.

Leverage Advanced Technology 

Autochartist is a market leader in supporting brokerages grow their businesses. Their advanced technology solutions can be easily integrated with any platform and provide multilingual marketing support. The software auto-translates analytic reports and trading signals to help brokerages communicate better opportunities to engage traders of all levels. Their high probability setups ensure customers have actionable content in their language. The risk management tools are highly effective in protecting traders’ interest and activity on the platform, keeping them trading with you for longer.