Travelex

Company Background

Travelex is best known for supplying foreign exchange currency at airports and tourist location but they also offer a wide range of travel and financial products such as travel insurance and phone cards.

The Challenge

Travelex wanted to transition from a foreign exchange company that happened to be in retail to a retail company that happened to be in foreign exchange.

Matt McCarthy, Travelex’s Retail Director for Australasia and Japan said:

”We really need a culture of being customer-centric. Customer service is the key thing that will underpin our success; if our customer service is strong and we care about our customers we will be market leaders.

We needed a program that our sales consultants could implement when they are dealing with our customers so that we can deliver what they want. This programme is designed to make our people experts in dealing with our customers and their foreign exchange needs”.

The Solution

The program was designed to improve the results of the retail operation by entrenching the responsibility for planning and supporting performance improvement into the local managers and to build ownership for delivering the required level of performance at the store level.

The solution had two elements:

  1. A training course was developed for the sales consultants, based on Prosell’s Conversational Selling Model, and delivered via the internet using a hosted learning management system which needed no technology implementation other than access to a PC with a browser.

    The course was designed to enhance the quality of service that customers experience when they visit Travelex stores and encompassed a blend of text, audio and video to create a rich learning environment.

    The learning management system tracked and reported on the progress of every program participant and automatically delivered certificates to everyone that passed the final assessment test.
  2. To ensure that managers were equipped to support the development of the sales consultants and their selling skills, Prosell’s Licence to Coach methodology was used. Licence to Coach rewards managers for achieving improved results from their team rather than attending training courses.

The Outcome

Following the launch of the program the monthly run rate of both revenue and add-on product sales improved. As a result of Licence of Coach, the managers are now much more engaged in the performance of the stores and the development of their people and accept that performance improvement is a key and central element of their role.