TRAVEL 4 LIFE - For Owners and Employers
The Travel Incentive Advantage
Vacation and travel incentives are one of the most powerful methods of attracting business, retaining profitable clientele, increasing profits, enhancing product awareness and improving employee productivity.
Businesses that have used vacation travel incentives in their marketing and promotions have seen at least 30% increase in their sales on both sides of the buy and sell cycle. Companies of all sizes and virtually any type of retail, wholesale, manufacturing, internet, service, distributor or direct sales business will benefit from incentive travel programs.
Why Use Travel Incentives?
Travel is considered to be the most effective reward for employees.
According to the result of an email survey conducted by CMI, 58% say travel is more effective than cash or merchandise. Survey respondents consider travel to be the most effective reward. (Incentive Travel Fact Book)
Travel is desirable A question asked on the Wirthlin Worldwide Research 2003 Survey was “Suppose your employer wanted to reward your work performance. What would you find most rewarding?” 88% - indicated a trip they plan and take with a companion to the destination of their choice Cash vs. Travel Incentives? Though its value is concrete and while it could be used to purchase a lifestyle award, most likely cash will be charged against a pile of bills or deposited into a leaky checking account where it soon ceases to exist. And with the demise of the cash award goes the memory of its origin leaving no trace of psychological branding. Joe Devlin of Mitsubishi Fusco Truck of America Inc. quoted, “Cash goes straight into people’s pockets, and they need it to supplement their salary, but our trips give us the competitive edge. They’re a big part of how we motivate the salesperson at the dealership that has the opportunity to sell more than one product.” (Incentive Travel Fact Book) | |
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Below are a few specific case examples and ideas of the great benefits and possibilities derived from using Incentives, namely Travel Incentives. Credit - Lynne Gabriel (ArriveNet Editorials - Apr 07, 2005) Sales Incentives - To increase sales
In a May 1998 Promo Magazine special report, it was noted that LifeUSA attracted new agents and sent sales soaring by abandoning its annual cash incentive program for a more inclusive campaign that gave out merchandise and travel. By the program's conclusion, policy enrollments exceeded LifeUSA's initial goal by 700%. There were 10,000 certificates issued and were more than twice what the company planned for. (Copyright IMA) Employee Incentives - To motivate, retain and reward loyal and efficient employees
A small retail store in Maryland, Target Appliance, used travel incentives. "We introduced our first travel incentive for sales employees five years ago," says President Daryl Gamerman, "and since then we've only lost staff due to retirement. I don't ever have a problem with our sales people not working hard or volunteering for extra work, because they know it will help qualify them for a great trip. Customer Loyalty Incentives - To build customer loyalty and trust
The Frequent Builders Program at Garco Building Systems offered travel awards to individuals. Since launching the program five years ago, Garco has experienced a 15 to 25% growth rate, compared to an industry standard of 2-3%. In 2000, the company grew a robust 37%. While it's impossible to measure precisely the role that the Frequent Builders Program played, "there is no doubt in mind that it helps to build customer loyalty," says Loomis. Referral Incentives - To develop contacts or promote referrals
'Refer three new customers to our Tanning Salon 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. Purchase Incentives - Increase cash flow and obtain money upfront
'Pre-pay a one year service agreement, you will get a free 7 days and 6 nights resort condo accommodation in the destination of your choice.' is an example how incentives can be used to up sell. Member Perks - Sell new accounts or memberships
'Join our golf club now and we will send you and a companion to Las Vegas with airfare and hotel for free!'
'We will send you and a companion to a free vacation for 3 days/2 nights in over 30 destinations when you open a checking or savings account with us.' Encourage responsiveness or trial of product or service
'Send back our questionnaire, we will send you and a companion to Orlando near Disney 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 2002 Honda Hybrid.'
These are just a few types of companies who successfully use Incentives in their businesses: | |
Auto Dealerships | Multi-Level Marketers |
Banks | Non-profit organizations (fundraising, etc.) |
Catalog Companies | Office Supply Companies |
Churches | Public Speakers |
Credit Card Companies | Radio Stations |
Distributors | Real Estate Brokers |
Furniture Retailers | Retailers |
Insurance Companies | Service Providers |
Jewelry Stores | Sports Organizations |
Manufacturers | Telemarketers |
Mortgage Lenders | Wholesalers |
By now you should appreciate the great value of using incentives in any business. And perhaps you already have some ideas flowing as to how you will use incentives in your business. But of all the types of Incentive ideas on the market Travel 4 Life takes the gold home!
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