LeapRate Exclusive Interview… The issue of Automation seems to be coming up a lot more lately in the lexicon of Forex and Binary Options brokers. Following the lead of brokers (such as Plus500) which have been very successful at automating their operations – including everything from customer acquisition to retention – we have been witnessing a very definitive movement by other brokers to cut staff and streamline their processes.
And naturally, forex and binary platform providers are now aiming to supply turnkey systems to brokers which satisfy those needs.
One of the first platform providers to actually come to market with an integrated solution aimed at maximizing automation was SpotOption with its Spot+ system, as was reported on LeapRate last July.
With nearly a year under its belt working with brokers on Spot+, we’re pleased to speak today with SpotOption’s Marketing Director Tammy Levy and get a better idea as to what makes up an automated broker solution, how it works, and what human input is still needed.
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LR: Hi Tammy. Can you please let us know a little more about what Spot+ is, and where it fits into a brokerage platform.
Tammy: The Spot+ platform has a back office system which focuses on automation especially in terms of sales, marketing, and retention. It has an array of features, developed to increase productivity and enhance efficiency. Some of the features include Q Center, which is a segmentation building tool that sends out event-based, scheduled, and automated emails to leads, customers, and depositors. There is the Communicator, which is a system for chatting with traders, and for push notifications for web, mobile, and text messaging.
Autodialer is another great tool which allows call-center employees to make automated calls, with the next call dialed as soon as the previous one ended. Mailer database is a feature that allows the uploading, building and saving of databases of email templates that can be used for sales, support and marketing purposes.
Another example feature is Refer a Friend. This is a cost effective campaign based on the best form of advertisement –Â word of mouth. Operators can automatically encourage traders to bring aboard their friends by rewarding both of them with a bonus. This can be done through Facebook, LinkedIn, or email.
LR: Why is automation important when setting up or running a brokerage?
Tammy: The binary brokerages of today are global, and the only way to reach the amount of potential traders that there are is through an automated system. Additionally, to efficiently manage retention and marketing activities, an automated system facilitates the process. In order to be cost effective, you need to reduce manpower, and reach as large of an audience as possible with the team that you have, in the time that they have. Manual activity obviously cannot compete with a big data system programmed for mass targeting.
LR: Is it really possible to remove all (or even most) human interaction in acquiring and retaining customers?
Tammy: Absolutely not. At the end of the day, machines are machines, and humans need humans. The automated system simply gives the human the tools to interact, efficiently and effectively, and allows them to do so exponentially.
LR: How has Spot+ helped increase the downloads of SpotOption mobile apps?
Tammy: The features in Spot+ that are focused on mobile marketing have given operators the final incentive to promote the app. Operators can send “push to sms” notifications, and activate campaigns for mobile in a more effective and cost efficient manner. Once the operator realizes the advantages, he knows how to get the traders to download. We’ve now reached 5 million downloads of the app, and this is due to word of mouth of a great trading experience, and of course, operator promotions.