Do you actually know that, according to Exploding Topics, there are about 7.2 billion mobile devices across the world? This is more than 90% of the world’s population. Given that people are using these devices to do almost everything, industries, including trading, have been adjusting to fit this trend.
Of course, you don’t expect a business that ignores such significant customer shifts to be successful. In fact, according to SuperOffice CRM, customer-centricity can make a brand 60% more profitable than those that are not, showing just how important it is to align with customers. So, if you want to learn more about how mobile apps are affecting the trading industry, read on.
Improving user experiences
It’s no surprise that Fluent Support expects up to 89% of companies to compete primarily based on customer experience (CX) by 2025. The situation gets even more serious, as 91% of dissatisfied customers may leave a platform without expressing their concerns. So, with CX becoming this important, anything that can help improve it is always welcome.
Mobile apps have become a popular way for trading companies like Exness to improve users’ experiences. For instance, users can now find real-time updates on their preferred financial assets, which can help improve their alertness regarding market shifts. Plus, it’s not just about having a mobile app; the application should be able to work well on multiple screens.
This allows seamless switching between trading devices without pinching or zooming the platform. And for on-the-go traders, such possibilities can really be handy. By the way, do you know that of all the websites on WWW (World Wide Web), more than 90% are responsive? This should be enough evidence of just how important responsive designs are.
Mark you: One of the reasons we use mobile phones is their convenience. Imagine not having to wait until you get to a physical destination before you can join a market just because you can comfortably do that with a trade app from anywhere. This just elevates the trading experience to a level that has not been seen before.
In fact, with more than 83% of consumers claiming that convenience is more important to them than it has ever been, such experiences could help the industry advance even further.
The role of customer support
In an industry like trading, where things can change suddenly, you expect investors to have numerous inquiries. So, to avoid frustrating them, you want to ensure that your customer support is effective even on mobile apps. Remember that most investors have integrated mobile access to their trading experience.
Ensuring they can easily share their concerns on these devices can be beneficial—meeting your customers where they’re most comfortable can work wonders. And this explains why many trading companies have been adopting in-app chat support to improve direct contact. To cater to the growing need for instant responses, these companies are integrating AI technology.
More personalized support is also possible because consultants can access user history and app activity using AI. Such experiences can improve users’ connection with the platform, which may lead to higher retention rates.
A study by WiserNotify, which supports these thoughts, suggests that personalizing can improve retention by up to 44%. For trading companies seeking to attract new investors, this can be helpful as it can improve conversions by up to 20%.
Other ways trading companies are using mobile apps to improve their customer support include:
- Implementing features like AI chatbots that can respond to common queries to reduce wait times
- Establishing comprehensive FAQ pages
- Following up on both positive and negative reviews
- Consistently improving customer support based on customers’ feedback
The growing emphasis
Anything related to money, of course, attracts the attention of both the good and the bad. And just recently, a study by e-Forex noted that 45% of financial services have encountered security incidents – not to mention those who never report.
With cybercriminals expected to advance their efforts, this industry is taking advantage of several measures to stay ahead.
One example is 2FA. Well, it may sound very simple, but 2FA can actually reduce exposure to up to 99.9% of targeted attacks. And this is without mentioning how it can protect you from 96% of phishing attacks, a common problem for many investors.
Biometric authentication is another security measure that most trading apps now use. Some might require your fingerprint, while others may use your face before allowing signing in. PINs and passcodes have also become common.
What is our final word?
There’s no denying the fact that mobile apps have positively impacted the trading industry. For instance, who could have thought that accessing trading markets on the go would ever be possible? However, this has become possible as investors can enter markets even on the go.
As if that’s not enough, trading companies are now using mobile apps to improve user experiences by providing things like real-time updates, educational resources and so on. This helps increase traders’ engagement, which may lead to increased loyalty rates.
Plus, by optimizing customer support for mobile use, companies ensure traders can receive help without switching from their mobile apps. The increased use of more secure protocols like 2FA in these apps ensures users can interact with peace of mind, knowing their funds are safe
