The Corporate Gains Derived From Incentive Travel Programs And The Trends In Promoting Them
The top and most competitive corporations nowadays effectively use incentive travel programs to work toward many of their business objectives. These provisions have proven impressively beneficial in the areas of brand enhancement, work productivity, securing employee loyalty and satisfaction, and increasing customer engagement and transactions. In fact, a study conducted showed that incentive travel presented as a sales promotion tool manages to grow sales productivity by 18 percent on average.
For companies that are able to design this program really well, the benefits are even much higher, and with their strategic execution, they are also able to target new goals quite easily. For example, the highest performing employees of the company who qualify for this special incentive can be sent to a travel destination to study the current market trend of that place, create important connections, and present the intention of the business to establish presence in that particular location.All these tasks may seem like work, but with a well-designed program, they can be accomplished in the most casual fashion that doesn’t burden the employee at all.
It’s also worth noting that it’s the perfect demonstration of the company’s trust which is a great boost to the employee’s morale. This is just one illustration of how the smartest business organizations can make this “investment” as advantageous as possible for the recipient of the incentive as well as the company itself.
Now, when it comes to the trends in presenting an incentive travel program, the following have proven to be the most successful.
- Using social media. When promoting through the most popular social media sites, the efficacy rate is 40 percent. With people spending at least seven hours each day on social media sites, increasing awareness and presenting information about the program are instantly made easier and more effective by presenting the program through Facebook, Twitter, Instagram, etc. Not only does posting on social sites increase awareness, but it also serves as a fantastic opportunity to understand the sentiments of the interested audience.
- Upholding social responsibility. Encouraging people to show support and demonstrate the positive values the company stands for is such an effective way of getting people to act to the advantage of the organization. And providing such a valuable incentive to the people who display commitment is a strong reinforcement of quality in all aspects of operations, which again secures advantages for the organization.
- Virtual presentation. This is 33 percent effective because everybody gets to see what awaits them if they are able to meet the requirements for the incentive.
- Offering wellness. This is also 33 percent effective because everybody is looking for a way to unwind, reinvigorate and just focus on their well-being. Including this component in a travel incentive makes it more desirable and encourages people to work harder so they will qualify for it.