Incentive Travel

Motivating. Rewarding. Exciting.

Why is incentive travel becoming the preferred method of rewarding customers and employees? Why is it so successful when it comes to building and cementing relationships?

Simple. Has anyone ever told you they had a bad time at the Super Bowl? Have you ever seen anyone who wasn’t excited about a three-night New York Theater trip?

People love to travel. They love to be part of the buzz that surrounds a mega-event like the Kentucky Derby. Reward a key customer or top employee with a trip to Pebble Beach and you’ll create loyalty that money can’t buy – but travel can.

Who’s a good candidate?

The easy answer is Anyone. After all, who wouldn’t enjoy a trip to Maui or a weekend at The Masters.

But looking at it in strict business terms, travel programs can help you reach a wide range of goals; it follows that a wide range of people you have relationships with make good candidates for these trips.

It’s not only about entertaining top customers or rewarding employees, the traditional targets for these trips. And don’t get us wrong. Travel is still a great way to reach out to and build relationships with these audiences.

But think outside the box a little and you’ll find a number of other people that match up well with these trips. Audiences such as:

Anyone enjoys the kinds of trips we’re talking about. And you can brainstorm virtually any reason why they would help you reach your long-term, or even short-term goals.

Money’s not the greatest motivator

Studies have shown that non-monetary incentives and rewards are stronger than monetary. At first, that sounds a little counterintuitive.

However, two-thirds of all executives interviewed believe that travel incentive programs are more memorable than cash-based ones. And nearly that many said they believe it’s easier to create a travel reward system than a monetary reward system.

The benefits go even deeper when you consider the mindsets of employees. Cash bonuses and incentives can quickly become expected. The bonuses are no longer considered a “bonus” but a part of their compensation package. Also, travel carries a certain cachet that sends a message of a job well done to both the employee traveling and employees who didn’t qualify.

Financial incentives become even thornier when potential customers, potential clients, and members of government bodies are involved. Ethics and laws make it much more feasible to use travel to build those relationships.

Group trips or solo trips?

Group travel is the traditional way of providing these incentives. Bonds can be forged between team members, between employees and management, and/or between your team and prospects.

In addition, group trips can be attractive financially, as expenses can be amortized over a number of trips and economies of scale achieved.

That said, Esoteric has created the structure and maintains the flexibility to make individual or small group trips just as cost-effective and valuable as those for larger groups. Sometimes there simply isn’t the budget or the need to send 25 or 50 people on the trip of a lifetime. For those situations – retirement, employment milestones, grand prize winners, executive perks – entertainment and incentive travel makes just as much sense, especially with its flexibility and affordability.

An expense? Or an investment?

If not handled properly, with a solid company that’s experienced and professional, entertainment and incentive travel can be neither an expense nor an investment. It can be a total waste.

But as part of a smart business plan, travel is an investment - just as marketing, capitol improvements, or new business endeavors are.

Sure, they cost money. But when done wisely, the return far outstrips what you spend.