Travel Incentives; Motivate & Engage!
Do travel incentives work?
According to a recent Incentive Travel Facts survey, travel incentives increase sales by an average of 15%. In addition, half of the survey respondents reported that travel incentives meet 75% - 99% of their objectives. (Incentive Magazine)
What can travel incentives be used for?
1. Sales Incentives - To increase sales
Companies can attracte new agents and send sales soaring by abandoning their annual cash incentive program for a more inclusive campaign that rewards employee’s achievements with both merchandise and travel. By a program's conclusion, sales and profitability goals can exceed projections by 200 -700% making incentive travel the best ROI.
2. Employee Incentives - To motivate, retain and reward loyal and efficient employees
Even small retail stores can use travel incentives. Due to the implementation of an incentive travel program, companies reported losing staff due to retirement only. Furthermore, they reported not having a problem with sales people not working hard or volunteering for extra work, because they know it will help qualify them for a great trip.
3. Customer Loyalty Incentives - To build customer loyalty and trust
A Frequent Builders Program offered travel awards to individuals. Since launching the program five years ago, the company has experienced a 15 to 25% growth rate, compared to an industry standard of 2-3%. That first year, the travel program grew the company by a robust 37%.
4. Referral Incentives - To develop contacts or promote referrals.
‘Refer three new customers to our company and we will give you a free cruise to the Bahamas or Mexico.’ is one example of so many ways to use incentives to get those referrals every company needs.
5. Purchase Incentives - Increase cash flow and obtain money upfront.
'Pre-pay a one year service agreement, you will qualify for a 3night/4day resort accommodation in the destination of your choice.' is an example how incentives can be used to up sell.
6. Member Perks - Sell new accounts or member ships.
'Join our golf club now and we will send you and a companion to Las Vegas with airfare and hotel!'
'We will send you and a companion on a vacation for 3 days/2 nights in over 15 destinations when you open a checking or savings account with us.'
7. Encourage responsiveness or trial of product or service.
'Send back our questionnaire, and we will send you and a companion to Orlando with free hotel and airfare!'
'We will give you a free 3 day/2 night vacation to Orlando when you test drive our all new 2018 Honda Hybrid.'
8. Other ideas include but are not limited to the following: Improve attendance, Create new markets, Foster teamwork, Build traffic, Set appointments, Business gifts, and Consumer/User promotions.
Your company cannot afford to be left behind. Your competitors probably offer incentive travel programs already which makes them really stand out and above the competition. Contact Premier Travel Group to start your program in 2018.