How To Convert Forex Leads Into Traders With Email

Tom Montag 6 min read May 12, 2021

Using a CRM is a great way to organize and segment your data. Your CRM helps you keep on top of all the information on your leads and traders and, used efficiently, can help your brokerage make decisions critical to your revenues and ROI.

We've gone into detail about this in one of our earlier articles on data-driven decisions. This time around, we're going to look at how the data management on your CRM helps your sales and retention agents convert leads to traders through email.

We get a lot of feedback from our clients, and one of the most common themes we see has to do with the major pain points for all brokers. We'll break these down and look at the best kind of emails to send, emails proven to be effective at increasing FTDs, trading volumes and additional deposits.

1. FTD And Re-Deposit Emails

Traders can be very active at opening demo accounts, but interest can drop off when it comes to funding a live trading account. If that's the case with your brokerage, you're in good company! Getting an FTD calls for a particular type of email that addresses the critical question in the back of any trader's mind "why should I choose you over another broker?"

That's the critical question your leads are asking about your brand, and how you choose to answer it will determine your FTD and re-deposit ratios to a considerable extent.

There are generic answers to this question. Things we see a lot include "leading forex broker," "un-matched range of services," "unique trading environment." While none of these are terrible angles, they do get overused. Try a more down-to-earth approach for a change. Do you offer custom account configurations for starter level accounts, for example? Are your real spreads competitive against other brokers? Concentrate on the added value your trading account offers over the competition.

Define your emails based on your CRM events. Filling out a registration form, for example, or opening a demo account. Your CRM should be firing these emails based on the events that are most important to you. Not only does this keep leads and clients in your sales and retention funnels, but it also ensures your contacts are updated in a timely way. Nobody likes to be kept waiting, and timely notifications will increase your engagement.

2. Custom Emails For Specific Events

Your CRM should be able to give you the trading patterns for all your traders. Crafting a custom email for the various segments in your contact list is an excellent way to increase your trader engagement. Try to combine these with educational material wherever possible. If your trader segment trades the NFP, for example, a reminder of the upcoming NFP report along with some background information would see a high engagement ratio. Your CRM should be able to track all the open statistics for this as well as download statistics if you include a link to a PDF report.

Your CRM can merge these target groups, allowing you to go even deeper with these customized emails.

The onus here is on your CRM. If your systems can't give you the target groups for specific events, you can't make the significant decisions about your email strategy.

3. Convert Demo To Live Accounts

A demo account is an invaluable tool for acquiring new traders. It's a great way to showcase your trading tools and trade execution. Combined with any trader educational materials you might provide, a demo account gives your leads a chance to get to grips with your trading platforms' operation and try out new strategies and trading ideas.

Once a lead has signed up for a demo account that gives you perfectly natural-looking opportunities to send emails with promotional intent but with a very soft-sell look and feel to them. Offering an extension for the validity of the demo account, for example, or a re-load of demo funds. Providing access to your educational materials is another excellent option for emails to demo account holders.

Your CRM is vital to understanding where your leads are in your conversion funnels. The data segmentation in your CRM should be guiding your marketing and dictate who gets what when it comes to your inbound marketing. If your current CRM isn't getting the job done, reach out to one of our success managers, and we'll show you what the Antelope suite of intelligent apps can do for you.

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