Around 46% of all companies in the US take Incentive Travel, investing something like US$22.5 billion per year in this tool, according to data from a research carried out by the Incentive Research Foundation.
But why do such a large portion of American companies invest so much money in this resource? Below we list some of the main reasons to invest in Incentive Travel in your business.
Reasons to invest in Incentive Travel
1. Greater customer retention
Incentive Travel is an excellent strategy for relationships with corporate customers, especially in B2B segments. Therefore, the result of using this tool records a high retention rate and can guarantee high-value accounts for the company, generating spectacular results.
2. Excellent ROI
The financial gain from the increase in productivity obtained by the company exceeds the investment in Incentive Travel. Well-designed Incentive Travel programs have an average ROI (Return on Investment) of 112%. In practice, this means that for every R$1,00 invested in the strategy, the company receives R$1,12 in profit. In other words, this makes this tool very advantageous.
3. Greater talent engagement and retention
One of the main benefits of using Incentive Travel as a strategy is the increase in engagement generated among team professionals. The greater the emotional connection you have with the company, the greater the tendency to increase team spirit among your employees.
According to research by Aberdeen Research, 100% of companies considered Best-in-class offer Incentive Travel to their employees. This way, it keeps the team more united and focused on the company’s success.
4. Increased productivity in the sales team
Most companies that use Incentive Travel direct these resources to the sales team. The idea is to engage employees to achieve specific and important goals for the business.
The data shows that the strategy works: according to research by the Incentive Research Foundation, Incentive Travel programs, when well structured, increase sales sector productivity by 18%. In numbers, this means that for every 5 sales made, 1 is new. In this way, it proves the result of greater employee engagement.
5. More revenue
When the company retains its best talents, it engages its employees and has a more productive sales team. Consequently, the result is an increase in your revenue.
And this is exactly what happens: the aforementioned survey by Aberdeen Research showed that companies that offer Incentive Travel to their professionals register growth in revenue 3 times higher compared to those that do not use the tool.
Como idealizar um programa de Viagens de Incentivo?
Now that there are no doubts about the benefits of investing in Incentive Travel, we will show you how to plan this strategy and obtain the best results. See some tips below.
1. Define your goals
Defining quantitative and qualitative objectives is the first action. It can be developed internally or by hiring a specialized company that will greatly contribute to developing the mechanics to achieve the award.
2. Choose the right destination
Choosing the destination for Incentive Travel is vital to the success of the strategy. The main criteria to be used are: choosing a location with options that meet the needs of relevant activities for the company and that is also a country/city of interest to the participants, thus generating a greater desire to be part of the trip.
3. Plan travel itinerary activities
The Incentive Travel itinerary is organized by the company. When choosing dynamics, give priority to those that stimulate the emotional connection between participants and the company. It’s because the more fun and special, the better. Also consider breaks where participants have the opportunity to explore the destination outside of the designated schedule.
4. Invest in details that will make all the difference
To demonstrate care, right from the start, a symbolic Travel Kit accompanied by a personalized message will start to make a difference in participant engagement.
5. Excel in the organization
Everyone wants to feel recognized and cared for! Therefore, it is important that the Incentive Trip is organized with attention to detail, so that participants feel valued and identify with the brand.
6. Count on the support of those who understand the subject
One of the secrets of a successful Incentive Travel is ensuring that everything goes well, without any headaches. After all, there is nothing worse to break the atmosphere of an event than failures in planning a hotel reservation or plane ticket, for example.
However, planning an Incentive Trip is very complex and has many variables. Therefore, to ensure that everything goes perfectly as planned, it is very important to have the support of someone who understands the subject and has experience in the area.
This is the case with Incentivare. Our company has more than 20 years of experience with Incentive Travel, reaching an average satisfaction level of 96.3%!
With these projects we won 14 Caio Awards in 21 editions, 6 times the award for Best Incentive Travel Agency in Brazil.