First Choice uses e-learning to boost foreign exchange profits

Foreign exchange is a lucrative but competitive business. Many organisations now offer a similar foreign exchange service, and it's not just the banks and post offices - supermarkets and department stores are also getting in on the act. There is now more choice than ever.

So how does First Choice - one of UK's largest travel companies - persuade customers to buy currency through their foreign exchange bureau and not drift to competitors?

Increasing performance

Well, the trick is to ensure employees are properly trained. High-performing staff can earn the company up to 25% more than average performers.

And the best performers are those who think like salespeople - not just 'order-takers'. This largely means building a good rapport with the customer while seeking out opportunities to sell foreign currency.

But good performance isn't just about selling. It's also about being able to enter currency orders into the First Choice IT system quickly and competently, without errors. The transition from sale to system has to be a smooth process.

Designing a course

So First Choice asked Brightwave to develop a product that emulated the working environment (where the currency is sold) and simulated the computer system (where the sale is entered). This would help all their staff turn into high-performers, boosting profits in the process.

Brightwave designed a cartoon-style virtual working environment so that staff would recognise their own shop. Even small details are included: vehicles drive by the window, other staff type on their keyboards and people walk past the shop. However, the prime focus is on the main characters who walk up to your bureau window, ask questions and start conversations. Learners are asked to respond appropriately, i.e. to build a rapport and seek out sales opportunities.

Whatever answer the learner gives, a 'helper' appears to guide them through the process or let them know they could have given a better answer.

Once learners have achieved the sale they switch to the system part of the course to enter the relevant information. Here they can either sit back and see how it's done or try it for themselves.

The combination of these two elements - involving selling skills, relationship building and some technical knowledge - helps to simulate a typical working day for an employee at a foreign exchange bureau.

Call us on 01273 827676 or email us at enquiries@brightwave.co.uk to find out how we can help you give your customers a great experience with effective sales and customer service training.