It is not all about foreign exchange...

The Company:	Travelex
The Industry:	Retail/Finance industry
The Challenges:	Become customer-centric Evolve into a true retail organisation Improve the results of sales consultants throughout Australia & New Zealand
The Solution:	Implementation of Prosell’s Conversational Selling model to improve the customer experience Web delivered sales training program for 500 sales consultants using a hosted learning management system Implementation of Prosell’s Licence To Coach program to equip the sales managers to support the development of sales consultants in the workplace
The Outcome:	8% increase in all add-on products ROI within 12 weeks
Time Frame:	4 months

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. 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.

About Prosell

Established in 1985 and with offices in Sydney, New York and London, Prosell is at the forefront of providing Corporateand SME Clients with proven, objective-led business performance improvement solutions. Our exhaustive knowledge of both business and consumer markets has helped define services aimed at creating and delivering measureable, sustainable improvement for our Clients.

To find out more about Prosell contact us. Australia call 1300 559 493, USA call 1800 484 3089, United Kingdom call 0870 855 3000 or visit our website.