TradeText - Nigerian Stockbrokers' Interactive SMS Portal
TradeText is a customer-focused, interactive mobile portal providing convenient query responses and periodic reports like trading account balances, mini-statements, trade/transaction alerts and real-time stock quotes via SMS.
Customer sends SMS containing keyword (ACCT BAL, MINI STMT etc) to 0700-BROKERS
SMS Message leaves customer phone and arrives at mobile networks’ Short Message Service Centre (SMSC)
SMSC forwards message to 0700-BROKERS, domiciled at our mobile gateway
Mobile gateway forwards message to Brokers’ TradeText application
TradeText parses the message for sender and keyword details then queries the database for the relevant info
TradeText packages the database info into a text message and despatches it to the mobile gateway
Mobile gateway reads the number and sends message on to the correct SMSC for delivery to the customer
Telco SMSC delivers message to Brokers’ customer
Note that for alerts and notifications only the last 3 steps happen because TradeText initiates the transaction automatically, triggered by activity on the customer account. This could be a trade execution alert, a monthly account balance, market advisory, targeted rights issue offers, seasonal greetings, or even promotional messages.
Next, we'll explore the TradeText value proposition for capital market operators.
With a customer base of ten thousand people, and a monthly subscription of Three Hundred Naira per person the total revenue realized is Three Million Naira, every month. At a twenty per cent ratio, this gives the broker a monthly income of Six Hundred Thousand Naira from TradeText alone.
In the first month of operation, which also serves as the pilot, a well-crafted initial campaign will use the registered mobile numbers in the existing customer database to inform all customers about the new convenience and send them instant transaction alerts to demonstrate the value of TradeText. They will also receive an account balance at the end of the month.
In this period, and at subsequent intervals afterwards, subscribers will be given clear and prominent instructions on how to opt out if they wish to. Charges for the service will also be clearly communicated.
Contact PAY EXPRESS CARD SERVICES LIMITED today to get TradeText working for you and your customers. Call 014534480, email info at pay express n g dot net, or visit 61 Marina, Lagos.