WhatsApp Automation for Prop Trading Firms

Prop trading firms thrive on attracting new prop traders to take on their prop firm challenges. The more sign-ups, the more revenue the prop trading firm generates. But in a highly competitive market, just running ads and waiting for sign-ups won’t suffice. Prop trading firms need a proactive, highly engaging strategy to capture prop traders’ attention and keep them motivated throughout the process.

This is where WhatsApp Automation comes in! With automated messaging, prop trading firms can increase challenge sign-ups, improve lead nurturing, and reduce drop-off rates. In this blog post, we’ll dive into how your prop trading firm can use WhatsApp Automation to maximize conversions and create a seamless experience for your prop traders.

What is WhatsApp Automation?

WhatsApp Automation is a tool from the WhatsApp Business Platform that allows your prop trading firm to set pre-defined triggers to engage with your prop traders efficiently. Instead of manual interactions, your prop trading firm can set up automated workflows to handle common questions, follow-ups, and engagement tasks in real time.

WhatsApp Automation enhances communication while improving efficiency. For prop trading firms, this means being able to instantly respond to potential traders, nurture leads and streamline the sign-up processes without constant human intervention.

How does WhatsApp Automation work?

WhatsApp Automation is powered by integrating the WhatsApp Business Platform with your internal systems or CRM. This enables prop trading firms to automate WhatsApp messages based on specific parameters or triggers. This is how it works:

1. Platform Integration

The Convrs omnichannel messaging platform connects with the WhatsApp Business Platform and your CRM systems for seamless data sharing, making smooth and efficient automated messaging.

2. Message Triggers

Set up predefined triggers that prompt automated WhatsApp messages. These automated WhatsApp messages are designed to be relevant and timely based on customer actions or inactivity.

3. Automated Message Delivery

Once triggered, automated WhatsApp messages are sent by the Convrs omnichannel messaging platform, ensuring timely and personalized messages.

• Inactivity – These are triggered by a trader’s lack of interaction or engagement over a specified period. This is useful for re-engaging prop traders who haven’t completed an action, like finalizing a prop firm challenge sign-up or completing the KYC process.
• Activity – These triggers are set off by specific actions taken by a prop trader, such as completing a prop firm challenge sign-up or finishing a trade.
• Schedule – These automated messages go out at specific times, such as reminders for prop trading firm events or promotions. These ensure information is sent exactly when needed, maximizing impact and engagement.

What Prop Trading Firms Can Do with WhatsApp Automation

1. Instantly capture and engage leads

When traders show interest in a prop firm challenge, it’s critical to engage them right away to seal the deal. WhatsApp Automation ensures immediate engagement between the prop trading firm and the prop trader by sending an instant response the moment a trader submits their details. This could be a personalized welcome message, a brief rundown on the prop firm challenge, or a call-to-action to complete the prop firm challenge sign-up.

2. Reduce drop offs with automated follow-ups

Not all prop traders complete their prop firm challenge sign-up on the first visit. Most need a nudge towards completion as some traders get distracted, forget, or hesitate. Automated follow-up messages on WhatsApp can bring prop traders back into the funnel with timely reminders.

3. Streamline KYC and payment processes

Prop firm challenge sign-up and payout processes often involve multiple steps, including KYC verification and payments. WhatsApp Automation can guide prop traders through steps that can get them stumped in the prop firm challenge sign up or completion process, eliminating friction and increasing the likelihood of complete prop firm challenge sign-ups and payouts.

4. Keeping prop traders engaged during the prop firm challenge

Once prop traders sign up, keeping them engaged throughout their prop firm challenge proves to be another challenge. When you offer traders a good experience with their prop firm challenge, they are more likely to sign up for more challenges from your prop trading firm. With WhatsApp Automation, you can send:

• Daily Updates: Remind prop traders of key prop firm challenge rules, challenge milestones, and deadlines for their prop firm challenges
• Performance Notifications: Prop traders can receive automated updates on their progress, including standings and any rule violations
• Encouragement & Upsells: If a prop trader is doing well in their prop firm challenge, they can receive messages that encourage them to take the next steps, such as joining a higher-tier prop firm challenge or purchasing additional account resets

5. Handling FAQs and support with AI Chatbots

Many prop traders have common questions about prop firm challenge rules, payout structures, or KYC verification processes. Automated replies on WhatsApp through AI Chatbots can instantly provide answers so that your prop trading firm’s support team can focus on more complex situations.

6. Retargeting prop traders who failed or dropped out

It’s highly likely that not every prop trader will pass their prop firm challenge, but that doesn’t mean they’re lost leads. WhatsApp Automation can re-engage prop traders who have failed or dropped out of their prop firm challenge with offers like discounts or other types of prop firm challenges to try again.

7. Improve prop trader retention and experience

Many prop traders struggle with their prop firm challenges, leading to frustration and support requests. WhatsApp Automation can proactively assist prop traders with guidance and educational resources to enhance their experience.

The Wrap Up

WhatsApp Automation can transform how your prop trading firm engages with your traders and ensures you leave no lead behind, using WhatsApp Automation tools and features from facilitate instant responses and follow-ups to onboarding assistance and re-engagement campaigns. With WhatsApp Automation, prop trading firms can increase prop firm challenge sign-ups, boost trader retention, and drive more revenue.

If your prop trading firm is looking to scale your operations, implementing WhatsApp Automation can be a game changer. Want to see how it works? Book a free, no commitment demo with Convrs today!