Anil Gaggar, MD & CEO at Progressive Share Brokers, shares key business and technology initiatives of the company:
Manoj Agrawal: Briefly describe your customer segments. What marketing activities are most effective for attracting new customers?
Anil Gaggar: We have a blend of retail as well as HNI clients. These have been our assets since many years now. For new customers, word-of-mouth marketing and digital flashes is how we try to capture the new forum. We are actively present on all major social media platforms (Facebook/Twitter/LinkedIn) which are the immediate attention seekers of the new-age investors.
What is your geographic reach and your expansion plans?
We are present pan India across 30 cities through our branches and franchisees giving us a strong client base of about 25,000. We have been diligently working on expanding the base of franchisees through the existing branches as well add new branches for stronger base. Takeover of smaller businesses and merging in the existing framework is a continuous process and done as and when lucrative.
What activities are you undertaking to maximizing customer retention? Have you put in place a CRM system…..if yes, share some details.
Our industry is all based on servicing. There is no stone left unturned when it comes to client servicing across the value chain. We have a genre of clients who still believe in the traditional way of trading which is call and trade and these are best attended by our dealers and RMs. They are provided with detailed information about different companies thoroughly researched to minimize the risk. There are regular updates provided at the macro as well as micro levels. We are working at adopting a CRM software which should unfold in due course.
Briefly describe your recent technology initiatives in last 12 months to enhance your services in terms of speed, ease of use, multi-lingual capabilities, self-service capabilities, etc.
Having realized that there is shift of clients from phone trades to app based for aiding convenience and ease, we have also upgraded on the tech front or ease of doing business and have implemented the simplest of mobile apps which makes trading easy just on fingertips. Also for the web-based trading, the easiest of software has been chosen. These help the clients to trade at their discretion with no dependency for trade executions.
Which new financial products do you see attracting more customers during the last 12 months?
The pandemic era saw a huge inflow into the equities space and that commanded major allocations of investments. However, now with normalcy striking in, investors are back to mutual funds and investing at every lower level. The volatility across has led to diversion even into the commodity segment like gold for instance.
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