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Why use incentive travel and ski events?
Facts and figures
We thought it might be useful to you to show a few facts and figures that explain the benefits of what we do at Mountain Leap that might be applicable to your company. As a company, there are a number of options you can follow when considering your corporate entertainment schedule. You could do absolutely nothing, of course, you could stick to the tried and tested sports events or theatre trips, or you could go a little further with Mountain Leap.
Industry Demands Credible Adventure Travel
In order to justify the use of adventure travel in the corporate incentive market it is important to first understand the buying patterns of the traveling consumer. Employees are, after all, consumers outside of work. The findings that follow are in the most part specific to the US however are clearly representative of UK trends today.
People are not only seeking unique experiences when they travel, they are becoming more conscientious about the effect their travel has on a destination and its inhabitants. Even without canvassing exhaustive research, it's obvious that the industry is responding with a wide array of new tourism opportunities.
Why use incentives?
Here are some compelling reasons why you should consider using incentives:
- Knowledgeable and attentive employees account for 80% of the reasons consumers feel satisfied, according to a PNC Bank Corp. survey.
- Fewer than one in four workers is working at full potential; half of all workers do no more than directly asked, and 75% of employees say they could be more effective in their jobs, according to the Public Agenda forum.
- 70% of unhappy customers abandon vendors because of poor service, according to the Forum Corp.
- A 5% increase in customer retention can increase lifetime profits from a customer by 75%, according to the Loyalty Effect by Frederick Reichheld.
- 'Reward and retention efforts can produce big dollar returns.' That's what the Incentive Federation found in a 2003 survey asking hundreds of businesses using incentive travel promotions 'Does Incentive Travel Improve Sales Productivity and By How Much?'
What, then, can we conclude from these survey results?
The bottom line is loyal customers and productive employees are the foundation of a successful business. But to continuously retain and motivate people can be a difficult challenge. Travel incentives, a proven motivator, can help you achieve this purpose.
Do your incentives measure up?
Today's business environment demands a new breed of incentive program. Many companies have already discovered that standard incentives of just a few years ago just don't cut it with the customers as well as the workers in our continuously changing economy. Your choice of incentives have to widely appeal to your clients' and employees' wants or desires in order to measure up and get results you are looking for.
Hundreds of promotional companies offer incentive programs that are designed to evoke an emotional response and motivate people to take a positive action. It's obvious from industry surveys of companies using incentives that travel is the most widely appealing incentive where everyone wins. Your sales people will close more sales, your clients will enjoy an exciting vacation experience and your business will increase its profits.
Travel is considered to be the most effective reward.
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)
"Cash bonuses are necessary but travel is a higher perceived reward," says Verizon's Porterfield.
Additionally, in a recent survey of American workers, 85% said they were motivated by travel incentives.
Nothing beats travel for long-term results.
In a 2003 Incentive Survey of Buying Practices conducted by the Incentive Federation, survey respondents believe that travel and merchandise awards are remembered longer than cash payments. Specifically, 69% strongly agree with this statement. (Copyright IPC)
Porterfield added, "When people spend their money, it's gone. But the recognition that comes from our travel incentives lives on.
Travel has a universal appeal and high-perceived value.
USA Today, on their recent survey, stated that "93% preferred travel over other incentives. This is because travel is something that some or most people would not be able to get for themselves."
Travel has a promotion value.
A more exciting and memorable programme can be built with travel than you can with cash.
Do travel incentives work?
According to the 2003 Incentive Travel Facts survey, travel incentives increase sales by an average of 15%. In addition, half of the respondents reported that travel incentives meet 75% - 99% of their objectives. (Incentive Magazine)