Vacation and travel incentives are one of the most powerful methods of attracting business, retaining profitable clients, increasing profits, enhancing product awareness and improving employee productivity.
Do Travel Incentives Work?
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.
Travel is considered to be the most effective reward.
“Cash bonuses are necessary but travel is a higher perceived reward,” says Verizon’s Porterfield. 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.”
How does a business get people’s attention and generate more traffic?
Answer: Give them something they really want!!
Many businesses discount their product or service to attract customers, thinking that’s what people really want.
Studies show that people are probably going to buy your product or service anyway. So, instead of reducing your revenue to attract business, keep your prices the same and add a travel incentive that will greatly increase the perceived value of your product or service, not to mention the lasting memories and referral business it will generate.
Loyal Customers and productive employees are the foundation of a successful business. To continuously retain and motivate people can be a difficult challenge.
Vacation and Travel Incentives, a proven motivator, will achieve this purpose.
Business Marketing Case Studies
Mortgage Loan Company
“We were looking to generate more leads and get prospects to bring their mortgages to us. Our industry is highly competitive and all too often prospects shop around and when they finally make a decision it could be with a competitor even though we offer similar rates. We wanted to get prospects to skip the shopping around and sign up with us.”
“We ordered 50 of the Cruise certificates from our level 2 lifetime travel package at $30 each. We offered these Cruises as a thank you to anyone that closed a loan with our company. We used this incentive in our advertising campaigns and immediately started receiving more phone calls.”
“The results were exactly what we were aiming for! Clients that come to us for a mortgage don’t bother shopping around when they know that if they close a loan with us they get a vacation. It was the best marketing tool we have ever used and has paid for itself many times over and I would highly recommend this to any business. Quite simply it was the best investment I’ve ever made.”
Tax Preparation Company
Every year we look for a way to bring in more referrals for our tax preparation services. Since 95% of our business relies on referrals we have always offered a reward to the clients that send us referrals. In the past we gave a $25 certificate good at local restaurants which didn’t increase our business at all. We then purchased a level 2 lifetime travel package which allowed us to give an unlimited amount of Cruises for $30 each. We thought we would give them a try as they were very affordable.
We purchased 700 Carnival Cruise Certificates and offered them to any clients that referred two new clients during tax preparation season, January-April, 2007.
We ran the promotion for 4 months and ended the tax season with over 300 new clients! We are very satisfied with the Vacation & Travel Incentives as a marketing tool and will definitely be using them again in the future.
Specialty Promotional Material Company
“I was hired about 2 years ago to market to aged accounts – The Company sells a business opportunity to set people up in specialty advertising industry, promotional material – pens and ball caps, that sort of thing. The database had about 24,000 names on it and I was challenged to come up with a way to turn the aged customers into sales. These were accounts where customers had said ‘No I do not want to buy this product’.”
“I used the 3 day 2 night Mini-Vacations that are available on an unlimited basis from our Level 1 lifetime travel package to get customers back in front of a presentation. We ordered about 1,500 of the Mini-Vacation certificates at a cost of $6.95 each. The recipient only has to pay room taxes or a possible processing fee. The vacations work without a hitch. We offered 6 different locations within a reasonable driving distance for the customer.
“The results were great. The first 6 months of last year, sales were up $400,000. The first 6-months of this year sales are up $1.2 million. The Vacation certificates get people’s attention. They have a high-perceived value.
I am 110% satisfied. The owners of the company get to use all the other great trips and hotel and travel discounts in our Level 2 travel package. I just booked an 8 day 7 night trip to Rome as a reward. I will only pay the room tax and the Company owners are paying the airfare for my wife and me to go. I would recommend the Travel Incentive Marketing concept to anyone who’s trying to get their customers attention. It’s the law of reciprocity – I put a pen in your hand and you feel compelled to give me a moment of your time. I give you a vacation certificate you’re going to give me 2-3 hours.”
Real Estate Agents
“My husband and I work as a Real Estate Team. With the competitiveness of the real estate market being what it is we were looking for a way to stand out from the rest of the pack.”
“We purchased 25 of the Disney Florida Holiday: 4 days/3 nights lodging at a resort hotel in Orlando which included 2 tickets to Disney World along with over $1,000 in coupons for food, entertainment, activities and dinner shows. We ran advertising and offered them as settlement gifts to buyers and sellers who chose us as their agent.”
“The response was overwhelming and we went through the certificates in a matter of a couple months. Needless to say we increased our business significantly as a result of giving this gift as an incentive to choose us over a competitor. This is a great Marketing tool.
By now you should appreciate the great value of using travel incentives in any business. Perhaps you already have some ideas flowing as to how you will use incentives in your business.