In this video exclusively for Dukascopy, Andrew Saks-McLeod, CEO of Finance Feeds, and Bart Burggraaf, managing partner at Media Group Worldwide, discuss the critical issues of the acquisition, positioning, and retention of foreign exchange customers in the increasingly competitive market environment. The interview is the first in a series in which they discuss the challenges of getting and keeping new customers in the highly competitive foreign exchange marketplace. This is a critically important issue throughout the industry.
Mr. Burggraaf emphasizes the importance that brokers need to place on educating customers to make better trading decisions, which in turn will strengthen the relationship and thus improve customer retention. Marketing and sales automated optimization software can help to identify which customers offer the most potential for profit and which leads are worth pursuing, while open CRM systems can be tailored to provide cost-effective marketing and retention tools.
The discussion concludes with a look at high vs. low touch marketing, and the extent to which the emphasis in most of the world – with the significant exception of Switzerland – is now on the latter. Next time they’ll examine which companies – and in which markets – would benefit from the high touch approach, and how a company can decide if that might be right for them.