5 Benefits of Travel Incentives
In an increasingly competitive market, in order to keep your biz one step ahead you need to ensure that you are using a range of marketing and sales tactics. Incentive travel is one such tactic. Used to great effect in B2B environments, and in particular( although not exclusively) in IT, pharmaceutical and financial sectors The Society of Incentive Travel Excellence defines the tactic as such
“Incentive travel is a global management tool that uses an exceptional travel experience to motivate and/or recognize participants for increased levels of performance in support of organizational goals”.
Its important to ensure that you pull together an itinerary that is relevant and suited to the group you have with you. Check out our ideas for an incentive to Marrakech, and With this is mind what are the key benefits to the modern manager of employing incentive travel in your organisation. We have identified 5 of the key benefits to consider.
Achieve Business goals:
Perhaps the most measurable of benefits that Incentive travel programs offer is when they are used for creating a detailed sales program around specific sales goals. If you have specific sales targets to reach often the determination to achieve this is even greater if there is a money cant buy travel experience on offer. I’ve seen some fantastic sales results achieved when the prize on offer was a trip to the Abu Dhabi Grand Prix. It offers a once in a lifetime experience that when offered as a prize rewards not only performance but also recognises that within the company as well.
Employee Engagement and productivity:
Incentive travel programs can be used to the benefit of all members of an organisation to give an added incentive for an individual to commit to their employers goals, values, and organisational success. This can be particularly effective by making the prize on offer available to all the organisation rather than limiting to just the sales team – who are perhaps the ones with the direct partner liaison. Travel programs can be of varying value but even simple programs can throughout the company and offer a great incentive to employees and a great Thank You that recognises performance internally amongst the whole team. It’s a great motivator for productivity and performance
Channel and partner engagement:
Add increased value to your channel and partner engagements by coupling a partner incentive with an internal sales incentive. This means that you have the complete ecosystem of the channel covered and helps you stand out from the crowd with your partners where there is often much competition to get yourself seen and heard.
Brand building in your channel:
As with partner engagement, well communicated inventive programs can do a great deal to enhance your brand. Its not just the prize itself that will get people buzzing, but if you have got the prize right the details will be shared by enthusiastic advocates and the benefit to your brand will be amazing .
And - lastly and perhaps most important - its so so fun!
Travel Incentives are a huge investment for many companies but done right they can result in huge success in terms of branding, sales results and ROI. The most effective incentives consider all aspects of the sales ecosystem and put in place both employee and partner targets and ensure everyone is working towards the same goal. Check out some of our ideas for your next travel incentive