Even if you activate in another field, or you are the manager of a company that has a different domain of activity from Forex, this example can be a good one. If you are still undecided to buy such a solution for your small company or not, the next example will help you to make a decision. Before talking about implementing a Small Business CRM for a Forex company, it is important to understand the services of such company.

Basically, a Forex service provider is a company that uses the money of the clients for investments, bringing more money to their clients. The main domain of activity of those companies is investing on the Forex market, but another important aspect of such company is finding clients. A Forex investor needs money to invest and the money can only come from clients. This is why implementing a method to manage clients more effectively is important.

The classic Small Business CRM

The classical CRM program is designed to manage a database of clients, with all the important details: the address, contact details, name, actions required and status. Besides this, there is also a field for notes, where every employee writes observations about the respective client. From here, the developers will have to use their intelligence to customize the CRM according to the needs of one client or the other.

Small Business CRM for Forex

In the case of Forex companies, the importance of client’s management is huge. Therefore, besides those classical fields, the modules must be customized for Forex:

1. Each client needs to have a filed with observations. Here, the sales officers will write about the potential of any client. When he was contacted the last time? If any officer of the company will call the respective client every day, the client will feel harassed. If a customer service officer decides to call a client, he will first check the CRM, to determine if calling the client is opportune.

2. The type of client. A client that invests 1 million dollars in Forex operations is a corporate one, and an important one for any Forex provider. It is normal for the details of this client to be secret for the majority of employees. For this client, only the managers, the Forex Operations Corporate manager and a few other people must have access. This means that every user of the network will need a certain level of prerogatives, which must be respected.

3. The potential. Each client has the potential of becoming an important one. Let’s suppose that a client only invested 100$ in Forex, so he is basically considered a retail client. However, the sales officer discovers that the client has a huge potential, and much more money to invest. How do you convince the client to invest more? In the CRM program, the financial section will display the evolution of the client’s account. If the sales officer observes that the company brought 10$ in a month from the initial 100$ investment of the client, a visit is required: using this small but spectacular advantage, the sales officer can convince the client to invest a lot more than 100$. All those operations can be done from the CRM platform, which increased the effectiveness of communication.

Forex is only one domain suited for Small Business CRM. Usually, when a developer manages to implement such a program successfully for one company with a certain profile, the company will continue to search for clients having the same profile. Besides this, a CRM developer must always keep an eye on the market, to determine what the latest trends are, and what services can be introduced in the offer to bring even more clients!