Increase Business With Travel Incentives
Are you looking for a way to increase your customer base and market share? Have you ever considered utilizing travel incentives? Travel incentives like the name implies can be used to motivate both customer and employee behavior. Utilizing travel incentives to attract, motivate, convert, appreciate, and retain customers and employees just makes good business sense.
Many people will tell you that “cash is king”. However, studies have shown that over time offering cash discounts eventually becomes part of the expected price. For example, who ever expects to pay full price for a car anymore? No one. We all know that the sticker price is negotiable. How many of us also know that if we find a suit or dress we like, we can wait a couple of months and it will go on sale? We will pay less than the original price tag for the same item. Likewise with employee bonus programs, over time bonuses become an expected part of pay. Every December or March, employees come to expect a bonus as part of their compensation.
Therefore, another more cost effective way to motivate customers and employees without dipping into your profits is to offer travel incentives. Travel incentives are a win/win opportunity for businesses and hotels. Hotels on any given night will have about 30% of their rooms vacant. That is lost revenue to the hotel that they cannot get back. One night’s room is not a product that sits on the shelf and can be sold tomorrow. Therefore, hotels want their property to be as full as possible. Consequently, they will take a cut on the room rate in order to attract more people to stay in their hotel. Once at the hotel, families will be spending dollars in the hotel restaurants, shops, and may even tack on a few extra days to their stay. In addition, when the family returns from their vacation they will give a glowing word of mouth advertisement of the hotel. Guess who gets credit for sending them on this great vacation? You and your business!
You may be wondering though, how can this be cost effective for me as a business owner? Well, for the cost of taking two people to lunch, you can send them on a 3Day/ 2Night Getaway with over 24 destinations of their choice. In addition, for the cost of taking two people to dinner, you could send them on a 5Day/ 4 Night Getaway including locations such as Florida, St. Thomas, and Hawaii. Think about what you are currently spending to attract, motivate, convert, appreciate, and retain customers and employees? Does it have the same effect on them as telling them you want to send them on vacation? People remember their vacations because they take their loved ones with them, make memories, and take pictures. Therefore, when you are the one responsible for allowing them to take that vacation, they also have great thoughts and memories of you and your business.
As a business owner or manager it just makes sense to utilize travel incentives for your next customer promotion or employee incentive program. Everyone loves to travel. Ask 100 people what they would do if time and money were no object and 98% would say they would TRAVEL!