FunderPro CEO and Co-Founder Gary Mullen has launched a new business called StopChurn.
The company is a marketing technology business that, as its name suggests, aims to stop companies from losing clients so rapidly. It does this by making it easy to automate a lot of marketing campaigns and communications channels, as well as simplifying the process by which a company creates more segmented, tailored messaging.
Client drop off is a common problem for almost all brokers and companies operating in either online gaming or financial services.
Brokers, for example, typically face a couple of problems. One is that the ratio of registrations to deposits can be very high, meaning you get a lot of prospective clients signing up but not actually doing any business with you.
The other is simple churn, with clients making trades and either because they get bored or lose money, they give up and move on.
Before helping to launch and lead the development of prop firm FunderPro, Mullen spent several years working on the marketing side of the busines for brokers.
He told TradeInformer last month that part of the reason for the new business was a belief that campaigns were either too cautious or exerted too much pressure on clients, and that there was a gap for creating high performing marketing campaigns that did not fall into either of those two camps.
The new company lets brokers, props, and other firms create marketing campaigns but also simplifies the communications channels that they can use to interact with clients. StopChurn makes it easy to segment clients as well, so that brokers can tailor messages and campaigns to specific groups or individuals.
