5 Key Ingredients for Successful Implementation of Corporate Incentive Travel Programs

Planning. Design. Execution. For practically every endeavor, you need to pay attention to these three areas to bolster your chances of success. This is especially true with the implementation of corporate incentive travel programs. Perhaps, you have read somewhere about the immense benefits of incentive travel programs and you wish to implement this scheme within your own company. Whether you are doing all the tasks involved in-house or you are thinking of getting the aid of specialists, here are five crucial things to remember. Decide what success looks like Before proceeding with the planning and design, you should know beforehand the objectives and goals to set for your organization's incentive travel program. This is one thing that you should decide for yourself as you know exactly what success would look like. It can be generating 10 percent sales growth or getting more qualified leads. Set a budget Apart from the actual budget for the reward and the awarding ceremony, business organizations should also set aside sufficient money for the promotion of the program. Ideally, that allotment should be somewhere between 10 to 30 percent of the overall budget. Take account of the participants’ desires In implementing an incentive scheme, it is worthwhile to remember that the program is all about the participants. As such, your intended audience should have a say on a wide variety of program elements, including program duration, travel destinations, activities involved, and even whether family members should be included. Failure to get the inputs from your intended audience will lower the engagement rate. Feedback-based design Upon hearing what your intended audience has to say, you should use their feedback in order to design a program that is fair, sets an attainable goal, and has an appealing reward.Sometimes, employees do not put much of a premium on the exclusivity of the events or the budget set aside by the company. Instead, many find the idea of taking time off from their busy schedules, and visiting locations that are attractive to them, more important. Measure success Before planning and designing the program, you have set goals and objectives, the attainment of which spells success. But how exactly do you ascertain success? Apart from examining financial metrics, it is also worthwhile to focus on behavioral aspects. The best way to do this is to observe the social media postings of winners which can offer an unfiltered glimpse into their perceptions.

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Testimonials

  • Evan Polin
    Sandler Training

    "I've been working with Bruce and his team on two projects and they've been great to work with. Bruce has helped us set up a referral/incentive program for us to roll out with our clients and strategic partners. Bruce was great to work with. He's set up a 7 tier program that allows for flexibility and he's also helped us to market the program."

  • Kevin O'Keefe
    Vice President World Wide Sales, Maginatics, Inc.

    "Beverly arranged and managed the early Envivio Sales incentive trips for us. Each of our events was an outstanding and motivating experience Our Sales team appreciated the attention to detail and to fun. Qualifying for the "trip" was a motivating factor behind many end of year sales pushes. I will use Beverly again in the future."

  • Mickey Poorman
    Laird Technologies

    "Peak Performance’s attention to detail and personal service made me feel like I had a true corporate meeting planning partner that I could rely on throughout the planning process right up until I was on site. I look forward to doing more meetings with them."

  • Marco Lopez
    C& J Energy Services, Inc

    "I have used your services two years in a row and you all have made my vacation a great one. You have the most helpful and considerate employees. Always very friendly, respectful and willing to make my travel experience a good one. Thank you and keep up the great job."

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