U.S. Online foreign exchange company, EZforex.com, has entered into a strategic alliance with Cornerstone Information Systems, to further automate the “A.I.M. For Success” program.
A.I.M. is the Auto-Intelligent Marketing program created by eZforex.com to streamline the sale of foreign currency. This new alliance will completely automate the process by using Cornerstone technology to proactively find agency travelers that have upcoming international travel and begin sending them a cycle of email offers to purchase foreign currency.
The agent includes the travelers email address in the client`s itinerary or PNR. Cornerstone`s robotic technology locates the international travel itineraries and sends them the eZforex server. At three weeks prior to the traveler`s departure, A.I.M. auto-emails the traveler on behalf of the booking agent at the travel agency. The email advises the traveler of the value and benefits of purchasing currency prior to travel. If the client does not purchase, A.I.M. follows up with emails at two and one week intervals prior to departure.
EZforex and Cornerstone`s technology greatly enhances the ability for travel agents to cross-sell foreign currency. A $10 million travel agency that produces 20% international travel creates up to 3,333 international reservations. Currently, less than 10% or 300 clients are being asked to purchase foreign currency due to client`s booking several months in advance. Research shows that travelers are most apt to make foreign currency purchases three weeks prior to departure.
With A.I.M. technology, eZforex quietly generates foreign currency sales currency sales and allows the agent to concentrate on new travel bookings. A.I.M. automatically markets to all 3,333 of the agency`s clients sending over 10,000 e-mails. “Agency`s foreign currency sales are expected to soar by 90% as a result of eZforex and Cornerstone`s technology. Such success breads increased profitability to the travel industry,” Shelan said.
To begin using the program the CD-based software and brief training module are installed at the agency site. As part of the program, an eZforex link is added to the agency Web site to provide access to a real-time currency calculator so visitors can instantly price and purchase currency online. These on-line purchases are also credited to the agency for commission payment.
The eZforex program handles standard currency conversion, converts foreign travelers cheques, issues drafts (cheques) and executes foreign wire transfers. Drafts and wires that are used to pay for small or large groups are an untapped source of revenue for agents. A full set of management reports are available at the website that automate tracking the transactions, profits, selling agent and corporate productivity.