Airwallex is a global payment solutions provider that offers intangible services such as cross-border payments, foreign exchange, and virtual bank accounts. These services are inseparable from the customer’s experience since they require direct interaction with the company to be delivered. In addition, these services are subject to variability and perishability due to changes in market conditions and fluctuations in currency exchange rates. To address these challenges, Airwallex has developed marketing strategies that focus on enhancing the customer’s perception of its service quality, reliability, and value proposition.
One example of Airwallex’s marketing strategy linked to intangibility is its emphasis on building trust with customers through transparent pricing models, clear communication channels, and reliable transaction processing systems. This approach aims to create a positive image of the company as a trustworthy partner that values honesty and integrity in all its dealings. For instance, Airwallex provides detailed information about its fees and charges upfront so that customers can make informed decisions about their transactions. It also uses encryption technology and other security measures to protect customer data from cyber threats.
Another example of Airwallex’s marketing strategy linked to inseparability is its commitment to providing personalized support for customers throughout the payment process. The company offers dedicated account managers who can assist with any queries or issues that arise during transactions. This helps create a sense of continuity and reassurance for customers who may feel uncertain about using an online platform for financial transactions.
To address variability in the market conditions and exchange rates, Airwallex has developed algorithms that enable it to offer competitive rates at all times. These algorithms take into account real-time data on currency fluctuations across multiple markets and adjust prices accordingly. To promote this feature, Airwallex regularly communicates updates on exchange rate trends through social media channels such as Twitter and LinkedIn.
Finally, Airwallex addresses the challenge of perishability by offering flexible payment options that allow customers to lock-in favorable exchange rates for future transactions. This helps mitigate the risk of currency fluctuations and ensures that customers can make payments at a time that is most convenient for them.
In conclusion, Airwallex’s marketing strategies are directly linked to its service characteristics of intangibility, inseparability, variability, and perishability. Through transparent pricing models, personalized support, real-time data analysis, and flexible payment options, the company aims to enhance customer satisfaction and build long-term loyalty. These strategies have helped Airwallex establish itself as a leading player in the global payments industry with a strong reputation for reliability and innovation.
References:
Airwallex. (2021). About us. Retrieved from https://www.airwallex.com/about-us
Airwallex. (2021). Blog. Retrieved from https://www.airwallex.com/blog
Airwallex. (2021). Our solutions. Retrieved from https://www.airwallex.com/our-solutions
Bakshi, A., & Singhania, S. (2019). How AirWallex is transforming cross-border payments? YourStory Media Pvt Ltd. Retrieved from https://yourstory.com/2019/07/startup-transforming-cross-border-payments-airwallex
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