The finance industry worldwide is always on the lookout for innovative ways to get more traffic and generate prospects. With the shift towards social platforms, the finance sector in Southeast East has also become open to so many opportunities. Since the creation of bitcoin and other decentralized currencies, the crypto industry, in particular, has advanced in the digital sector.
This has opened up new opportunities for businesses to generate traffic, better engage with their customers, and increase their customer base using digital tools. Networks such as LinkedIn, Facebook, WhatsApp, and Twitter have become a gateway for businesses to target a demographic of customers and other businesses that could benefit from their services, especially in generating leads.
SocialEpoch has simplified this process by introducing two of the most effective social selling tools: the WhatsApp SCRM & Mass DM Panel and Facebook Marketing Automation. These can help investment firms, B2B and B2C marketers like TemasTemasek Holdings and GIC Private Limited, and payday loan companies like AdaKami in Southeast Asia better manage their businesses while expanding their customer base and leveraging sales.
Why Digital Assets and Business Compliance is Crucial in the Finance Industry
Nearly all industries can significantly benefit from lead generation strategies, and the finance industry is no exception. The financial industry is among the most heavily regulated industries in the world.
Financial services marketing teams can draw in more visitors from eligible prospects by focusing on generating leads. Top-quality prospects lead to valuable customers, which can further boost revenues for companies.
Lead generation is a key metric for examining brand recognition and business growth in the finance industry. In order to comply with all the applicable regulations, financial institutions need to consider the importance of their digital resources and have a robust compliance program for the regulation of those resources.
What are Digital Assets?
As all of today’s industries have taken up technological means to further their business cause and increase their customer network, the importance of digital assets has also increased immensely.
Digital assets are the intangible resources that make up an individual’s or organization’s digital footprint. A digital asset can be any uniquely identifiable content that gives value to a specific business. They include websites, blogs, social media accounts, customer databases, domain names, and more.
Digital assets are valuable because they can help businesses reach their customers and prospects with information about their products and services. They also enable companies to build customer relationships and create brand loyalty. As such, digital assets are essential for any business looking to succeed in the digital age.
Digital Assets in the Finance Industry
Regarding the finance industry, digital assets have a more distinctive purpose. It comes under the scope of ownership and authority. It can be considered any data or electronic media owned by a user or transferred to another user as a form of currency.
In this way, digital assets become more than just a piece of information. They also facilitate transactions and store corporeal content like contracts or important graphics information.
They are often stored on a blockchain – a distributed ledger that permits secure, transparent, and tamper-proof transactions. Bitcoin, the first and most well-known digital asset, was created in 2009 as a peer-to-peer electronic cash system.
Other digital assets include cryptocurrencies, tokens, smart contracts, and NFTs. They are also often more volatile and can be more easily bought and sold than traditional assets. For these reasons, digital assets are often considered more speculative investments.
How Digital Assets Benefit Finance Businesses
Digital assets are becoming increasingly popular in the finance industry. They offer a range of benefits that can help companies increase their efficiency and profitability. Furthermore, digital assets can be used for everything from trading to asset management, making them an invaluable tool for financial institutions.
Digital assets offer several advantages over traditional financial instruments like stocks and bonds. For example, they can be traded faster and more securely, with fewer transaction costs than conventional instruments.
Also, they are easier to track and manage, allowing companies to monitor their investments and quickly make informed decisions. Additionally, digital assets are easier to store and transfer than physical ones, making them ideal for those needing access to their investments on the go or in remote locations.
This makes them ideal for the modern investor, who needs to be able to move quickly and with precision to maximize returns. Some other benefits that digital assets provide to the finance industry are:
Cost-effective Transactions
As social media spreads around the world, the number of business transactions and dealings has also increased.
Marketers now have the opportunity to gather their target audience internationally, which has led to a massive increase in the number of signed contracts and transactions made. Digital assets have revolutionized the way businesses deal with each other.
With digital assets, transactions are no longer limited to the traditional methods of exchanging money and goods. Instead, digital assets enable companies to transfer funds and goods quickly and cost-effectively.
By removing costly intermediaries and increasing efficiency, digital assets can help companies of all sizes reduce their financial costs.
Security
The primary factor in bitcoin’s success is its self-protection from governmental regulation. Due to their independence from fiat currency and regulation, digital currencies are immune to bank failures, hyperinflations, and other economic crises.
The use of digital assets has made it easier for businesses to make payments or receive payments from customers around the world.
It also allows individuals to transfer funds quickly and securely without going through long processes or paying expensive fees. Digital asset transactions are also more secure than traditional methods as they are encrypted and stored on a distributed ledger system, which is highly secure.
Expanding Businesses across Boundaries
Digital assets are not owned by any central authority and hold the same value in all world regions. So, dealing with these assets can help finance administrators develop strong relationships with their international clients.
Digital assets make it easier to conduct business both nationally and internationally. With the use of assets like bitcoin, ETH, and BNB, many restrictions and obstacles to doing business internationally are eliminated, and accepting payments in foreign currencies is made easier.
The transaction is processed and carried out securely, whether inside or outside the nation’s borders. As a result, businesses can use digital currencies to accept payments from international customers without having to deal with the challenges of conventional financing.
Businesses can expand into new international markets while also increasing their revenue. You can trade internationally without forgoing a portion of your profit or overcharging for your goods, thanks to this as well.
New Business Possibilities
Businesses in the financial sector can accept more customers if they use digital assets. This applies to investment firms, as most investors and administrators prefer blockchain to avoid problems or security breaches.
Giving users of digital assets a chance to interact with your company increases the likelihood that your business will target a wider audience, helping you generate sales.
Business Compliance and its Importance in the Financial Sector
Business compliance in finance is an essential factor for any business, large or small. It ensures that financial transactions are conducted in accordance with applicable laws and regulations, as well as with the company’s internal policies.
Compliance also helps protect a company from potential fraud and other financial risks, such as losing its digital assets due to blocking. Having a good understanding of the applicable laws and regulations is essential for any business to ensure compliance.
Companies should also have internal policies in place to help guide their employees when dealing with financial matters. Also, strong internal controls can help prevent fraud and other irregularities. By taking these steps, businesses can protect themselves from costly fines and other penalties arising from non-compliance.
Financial compliance refers to the status a business achieves when it follows all the rules and regulations laid out by the regulatory body. In order to stay compliant with financial laws, businesses have to change their business operations to align with the changes in those laws. If a law on how companies earn their finances changes, so will compliance.
Any company that wants to conduct legal business must adhere to financial regulations. Businesses can avoid fines that result from financial negligence by maintaining financial conformity. As a result, stakeholders and business partners will perceive them as a reliable and stable company with strong financial standing.
Financial compliance is crucial because it reduces the chance that a business will be shut down for not adhering to regulations. Additionally, financial compliance also contributes to the good reputation of a business as it is perceived as responsible and reputable by stakeholders, which allows for more favorable deals and potential partnerships.
Essential Tools and Strategies for Business Compliance in the Finance Industry
According to Statistica, the global CRM market revenue has been steadily increasing, up to 52 billion US dollars in 2021. WhatsApp is the biggest messaging platform in the world, with about 2000 million monthly users.
With such a high percentage of users around the globe, WhatsApp stands out as the best choice for organizations to leverage their businesses, and the integrated features make it a powerful SCRM tool.
An effective SCRM strategy can make a massive difference for your business, whether it is customer engagement, lead generation, or asset management. It also impacts customer loyalty and retention, which are the core elements regarding profits and sales revenue.
Hence, it is time for the finance sector to recognize SCRM and employ tools to effectively advance their business cause.
WhatsApp SCRM (Social Customer Relationship Management) is a customer relationship management tool that allows businesses in the finance industry to manage their customer interactions and relationships via the WhatsApp messaging platform.
Using this powerful tool, businesses in the finance sector can efficiently connect with their customers, manage customer conversations and interactions more effectively, and protect their digital assets that can be used later on for marketing purposes or making transactions.
WhatsApp SCRM can help businesses create personalized experiences for their customers, improve customer service, and increase brand loyalty. Additionally, it allows them to leverage digital assets such as images, videos, and audio files to create engaging content that resonates effectively with their target audience.
Besides that, WhatsApp SCRM is a powerful tool for financial compliance and customer service regulations. It allows companies to provide timely and accurate customer service, as well as automate processes related to customer support.
WhatsApp SCRM can also help businesses manage customer data, track customer conversations, and respond quickly to customer inquiries.
By taking advantage of this technology, businesses can ensure that they comply with the regulations set forth by their company or enterprise. With this technology, businesses can offer their customers a personalized experience while still being able to respond quickly and accurately to inquiries.
SocialEpoch WhatsApp SCRM & Mass DM Panel
Aimed at providing B2B businesses effective and potent social selling strategies and tools to expand their business exponentially globally, SocialEpoch launched its WhatsApp SCRM to assist finance businesses.
Through this channel, these organizations can communicate with their customers in a medium that suits them best. The primary purpose of this software is to direct the finance industry to many potential prospects and generate sales through WhatsApp.
Our WhatsApp SCRM helps companies engage a large number of audiences with features such as automated responses, scheduled messages, and mass messaging, along with tracking the progress of your WhatsApp marketing campaigns.
Suffice to say, it is a powerful tool for financial institutions, as it enables them to reach out to a large base of customers and provides the ability to interact with them conveniently and engagingly.
SocialEpoch’s WhatsApp SCRM & Mass DM Panel is designed for enterprises and companies with a digital setup and who want to achieve an organized communication channel.
Through this software, SocialEpoch has provided social selling solutions and tools to approximately 3000+ customers in the finance industry alone and has helped them increase their sales by 43% .
One of these customers is a big FinTech company working in the niche payday loan industry. Over 500 employees of this company are using the SCRM to interact with customers and market their campaigns as well.
SocialEpoch’s WhatsApp SCRM has enabled them to create an efficient workflow through the auto-messaging system.
Employees can schedule and design messages for both lead generation and debt collection. This software also enables them to create customized messages for each client in order to communicate more effectively. They also have the facility to tag and segment contacts.
Apart from communication, data security and the company’s privacy policy are also important. The SCRM tool has an end-to-end encrypted chat system and a strong data backup that keeps all your chats and history safe for a compliant working process.
Having said that, here are some ways in which the SocialEpoch WhatsApp SCRM & Mass DM Panel is beneficial for your financial services:
End-to-end Encryption and the Safety of Data
People have devised methods to steal data as digital assets become more popular. This could be due to several factors, such as a faulty firewall, an ineffective security system, or non-compliance with industry regulations.
Digital data such as contracts, documents, personal information, portfolio passwords, and currencies, such as blockchain, are valuable assets in the finance industry.
It is important to have tools that ensure proper engagement and are secure enough. SocialEpoch WhatsApp SCRM is built with end-to-end encryption. End-to-end encryption is a digital security method that ensures only the sender and intended recipient of a communication can read the contents of that communication.
The sender encrypts the message via a public key, which can only be decrypted by the recipient using their private key. This ensures that if the message is intercepted by a third party, they will not be able to read it.
End-to-end encryption is important for the security of digital assets because it ensures that only the intended recipient can access them. This is especially important for sensitive information such as financial data or personal communications.
So, with this tool, you can easily promote your business without worrying about losing valuable data.
Easy Data Transfer
One of the biggest problems with WhatsApp business management is data loss. If an account is blocked and you want to shift your data from one account to another, it can be a hustle. Backup problems and other factors can sometimes lead to losing valuable client information and instructions.
WhatsApp has made it mandatory for businesses to keep regular data backups to prevent losses, but this is not always enough. Therefore, companies must have an effective data recovery strategy in place to ensure that their data is safe and secure.
Social Epoch addressed this issue by incorporating powerful data transfer into their WhatsApp SCRM tool.
This allows businesses to quickly and easily transfer their data across different platforms and devices in the event of a disaster. This powerful tool eliminates the need to perform manual backups, allowing businesses to focus on their core operations instead of worrying about data loss.
Preventing Loss of Digital Assets
Business owners today cannot risk losing their data due to unforeseen circumstances. Your WhatsApp SCRM holds all of the client’s information and also has access to your private digital assets.
If your account gets blocked through a scam or for unknown reasons, there is a risk of losing all this valuable information. It can lead to significant losses in your investments, clients, and time.
At SocialEpoch, we solve this issue by providing account security and data security to business owners. Our WhatsApp SCRM tool safeguards your data and details with a solid backup, allowing you to access this information even after a crisis.
Track Employee Performance
When utilizing SCRM strategies, the level of employee engagement is a crucial factor to consider. According to a study, integrating WhatsApp SCRM into business processes can increase employee productivity in your company by 50%.
Employee turnover is more effective because employees spend less time performing manual labor. Employees spend more time interacting with leads and less time overseeing manual tasks. Team managers would eventually get higher conversion rates.
However, a team manager can only boost business performance when the key performance indicators are correctly matched with the employees’ productivity.
SocialEpoch’s WhatsApp SCRM Software allows directors to monitor their staff’s productivity in real-time and, as a result, prevent service delivery delays. From the moment a lead is assigned to an employee, and throughout the sales funnel, the system monitors their performance.
SocialEpoch WhatsApp SCRM helps sales managers monitor employee performance and act appropriately when there is any confusion.
Conclusion
The financial industry makes a significant contribution to businesses all over the world. The use of effective social selling tools in the financial sector will benefit other businesses by encouraging meaningful interactions.
Social media and social apps contain half of the world’s population on them, and the best way to promote any business or service is to generate leads through strategies that target audiences through social media.
SocialEpoch has made it simple for B2B finance companies to access result-driven social selling via their WhatsApp SCRM & Mass DM panel.
This software takes account of important activities, from securing digital assets to regulation and financial compliance, keeping employee performance records, keeping data backups, and keeping track of marketing campaigns. It is a way for financial firms to access digital tools systematically.
