Making Life Easier For Brokers
Apart from executing trades on clients’ behalf, brokers offer a lot of other value-added services like providing market information, research calls, financial planning advice and powerful trading terminals to their clients. Due to the volatility of the stock market and the competitive nature of the industry, there are some challenges that brokers face regularly. These include, not being able to deliver research calls to their clients on time, not being able to attract new customers and not being able to keep track of revenue earned through research.
At TipStop, we aim to solve these problems and make their lives somewhat easier. The following are some challenges faced by brokers and we describe how TipStop can effectively solve them:
- Latency in delivering research to customers and relationship managers
Brokers often face problems in reaching out to their existing customers. Most SMS servers take up to five minutes to reach the client and it often occurs that by the time the research is delivered, it is no longer lucrative to take a position because the price of the instrument has moved. But with TipStop, brokers can finally get relief from this problem. Since we rely on in-app notifications and not a third-party SMS server, when analysts post research calls on TipStop, the customers get them instantly. This ensures that the clients don’t miss out on market movements.
- Reaching out to new customers through a differentiated offering-
To survive in the competitive world of stock market trading, brokers need to expand their customer base and attract new customers. With so much price competition, there is not much difference between one broker and another. We believe that the quality of research can be this differentiator that can help brokers win new customers. But doing so usually means investing valuable time and money in generating leads, creating advertisements and producing word of mouth. With the innovative discovery platform of TipStop, brokers won’t feel the need of investing in lead generation efforts anymore. Here the users can take the advantage of free trials on subscriptions, which will give them access to any research available here, before taking a decision to spend money on buying a broker’s research or on opening a new trading account. Good quality research will automatically attract customers and lead to new customer acquisition for the broker.
Keeping oneself updated about the number of subscribers and revenue earned on a daily basis is no easy feat in the fast-paced world of the capital markets. But now TipStop gives brokers access to its dashboard, where they can get access to important information such as the number of subscribers gained and revenue generated. Moreover, they can track which calls are open in real time and manage their analyst teams conveniently.
- Monetized research-
It was always the case that research was treated as a cost centre in a broking firm. It was difficult to estimate the direct revenue as a result of participation in research calls by customers. But monetizing research efforts by broking firms gets easier now with TipStop. Brokers can now monetize their research because users at TipStop are paying directly for the research. Now subscribers pay for the research and brokers can establish linkage between the research and revenue.
With these problems solved, brokers don’t have to face a hard time anymore. So hurry up and get registered to the TipStop waitlist before it fills up!