The background

Buying goods in local currency when you’re abroad means you either exchange a large amount of cash to local currency before jetting off, or do it when you get there and hope for a good rate.

Neither of these is ideal. A more convenient answer is the prepaid foreign currency card. They can be topped up at any time, offer low exchange rate and transaction fees, and come with the added security of Chip & PIN.

However, a major problem faced by FAIRFX, a leading global issuer of such cards, is that customers can sometimes get confused about how they work.

Email marketing automation: the automatic answer

FAIRFX found that that the FAQs section of its website was generating a lot of traffic. Utilizing the dotmailer WebInsight tool, FAIRFX created a series of emails that answered these questions before people asked them, reducing helpdesk calls and improving the customer experience. Now, customers automatically receive an email with tailored content relevant to their browsing habits.

Another automated program FAIRFX has used dotmailer to implement is the birthday program. Turnover generated from this campaign rose by more than 300% in just eight months, all from a simple ‘Happy birthday’ message.

Content, say FAIRFX, has proven to be is critical. They found that by keeping up a regular flow of useful information, through currency rate alerts and regular newsletters, they built year-round contact and improved brand awareness and loyalty.

Lisa Stone FAIFX head of Online Marketing, said, “Being a digital business, we have to keep ourselves in our customers’ consciousness. We have to strike the right balance between keeping them aware and overloading them with marketing. An effective email program, courtesy of dotmailer, provided the perfect platform for doing this: automation allowed a small team to achieve a massive amount.”

An effective, flexible, profitable platform

FAIRFX say that working with dotmailer has really helped them get the best out of their digital marketing. Well, the figures certainly seem to back that up: between August 2014 – August 2015, there were 17% more visits to the site, a 73% increase in conversion rates, a 103% increase in transactions, and a 121% increase in revenue.

Thanks to the innovative, helpful new features and tools that are constantly being developed and delivered by dotmailer, and the close working relationship between the two companies, FAIRFX is set to lead the way in new-age foreign exchange.

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