Motivate traders with the Status System in your CRM

11.11.2022

We continue to write about different UpTrader CRM features which will help you improve your business processes and increase your clients' satisfaction. Previously we covered Wallet, Withdrawal control and approval system, and Market Analytics Feed, and today we will tell you about the Status System.

 

What is a status system? 

It is a configurable system that allows you to assign statuses to clients who fulfill certain conditions (deposits, KYC compliance, etc.) or fall into a certain category (country of registration, language, trading account type, etc.). The status system allows you to segment your clients based on parameters that are important to you and to build up the work with each segment in its own way. 

 

What does the system look like?

All client interface pages show the current status of the user as a progress bar. By default, the progress bar is set on minimum values. However, if certain conditions are met, the progress bar starts filling up and the name of the current status changes. If a client wants to know the details of their status, they can click on the status and read what it means. 


 

What could be the rules for assigning statuses?

You can think of any names: VIP, Standard, Base; Gold, Silver, Platinum, etc. You can set any rules for status assignment. For instance, you could treat clients whose deposits are higher than 10K in a special way. You decide then that these clients will be your VIPs and introduce certain special conditions for them. For example, no-commission deposits or deposit bonuses. 

In terms of settings, you can either assign statuses manually via back office or define custom rules. For instance, clients with a deposit over 10K get a certain status, and then it will be assigned automatically when they meet this condition. If at the same time you want to give out bonuses to such clients, you can set up the same rules in the bonus system. Users can receive benefits either manually or automatically, depending on your policy.

Use the status system as an onboarding tool

 

You do not need to use the status system as a marketing tool. You can also make it a part of your onboarding when your clients go through KYC, from registration to trade. For example, you can tie the status system to document verification, and each document will bring the client closer to trade, which will be reflected in their status. The KYC process itself can be long, and the statuses can provide transparency and reassure the client. 

 

Do I have to assign statuses to clients? 

None of this is necessary for a broker's work, but these little things tend to increase customer loyalty, introduce an element of gamification, and generally create a positive image of the broker. 

Come up with your own special status system, and delight your clients with new features.

If any questions, please mail us to [email protected] or leave a request in online chat. 

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