Why Travel Incentives are the Obvious Way
by Evan Hill
How to increase sales affordably
is the key question for any company
that wants to see profits go up without
an accompanying spike in expenses.
Traditional advertising in newspapers,
phone books, and via direct mail is
no longer effective at turning prospects
into buyers and small businesses into
big successes.
If you can’t increase sales with
traditional advertising, what does work?
The answer may surprise you. Because,
frankly, it’s so basic, so logical,
so obvious that you’ll wonder why you
didn’t make it the centerpiece of your business
marketing plan before now.
The best way to increase sales is
a simple tactic that is effective whether
you’re selling a product or a
service. It’s can be just as useful
for business-to-consumer marketing
as it is for B2B marketing. In a nutshell,
the answer to your business
marketing needs and high profit
goals is
Creating customer satisfaction
with travel incentives.
Travel incentives are magnetic when
it comes to bringing in new prospects
and equally effective when it comes
to helping existing customers stick.
This last point is especially critical
because:
- A 5% increase in
customer retention can increase
lifetime profits from a customer
by 75% (source: The Loyalty Effect
by Frederick Reichheld) - 70% of unhappy customers
abandon vendors because of
poor service (source: The Forum
Corp.)
Give The People What They Want
Creatively designed travel
incentive programs can be
developed according to the needs
of any company and the interests
of its consumers. They’re a great
way to increase sales at
mortgage companies, jewelry agencies,
auto dealerships, and even scuba
diving shops!
And since travel incentive programs
are easy to administer, they are an
extremely cost-effective marketing
option.
It’s not rocket science. People love
freebies and they love to travel. That
makes travel incentive programs twice
as appealing as twice as effective
when it comes to increasing
conversions.
But travel incentive programs do
more than generate leads. They
make it easier to sell
more and close more
often. How? Value-added travel
incentives strike a chord
with people in more financially secure
demographics…from upwardly mobile professionals
to comfortably retired seniors.
These are the ‘quality’ prospects
that help drive up closing rates. Because
as well as being willing to
buy, they’re able. And they’ll
be highly motivated to do so when you
include a quality travel incentive offer.
Connecting With Consumers In A Positive Way
Marketing with travel incentive
programs helps you push
three key emotional “hot buttons”
with prospects and existing customers.
And unlike many marketing
strategies that speak to
negative emotions such as fear and
greed, travel incentive programs tend
to make people feel good.
Here’s why:
Travel Incentives Make People
Feel Smart
Travel incentives add
tangible value to offers from online
and off-line businesses alike. A vast
majority of consumers are guided by
price when they make their purchases
and they have learned to demand more
than what they paid for.
This is precisely what travel
incentive programs provide.
Travel Incentives Make You
Unforgettable
Incentives have long been used to
make businesses memorable. On the low-cost
end, there are keychains, pens, mouse
pads, and refrigerator magnets. On
the high end, there’s logo gear such
has hats and t-shirts. These items
may be useful, but they’re not especially
memorable.
A travel incentive to an exotic locale
or popular destination, however, burrows
into a consumers mind like a gopher.
In addition to making you stand out
from the crowd, a unique travel incentive
program makes consumers feel special
and well-taken care of.
Think about it. Which would make a
bigger impression on you: a
coffee mug or a certificate for a free
3-day/2-night trip to Hawaii?
Travel Incentives Make Consumers
Want to Say “Thank You” Back
When we receive a valuable gift,
most of us want to say thank you.
A travel
incentive is a valuable gift
to prospects and customers and they’ll
want to say ‘thank you’ the only way
they know how: with their business.
The “Law of Reciprocity” states
that when you give people something,
they will want to give you something
in return. It’s the reason there’s
a prize in the McDonald’s “Happy
Meal” and the thinking behind
advertising agencies taking prospective
clients to dinner. In each instance,
the hope is that the freebie will result
in more sales.
The same is true with travel
incentive marketing.
The Bottom Line
Do travel incentives work?
Yes! According to Incentive Magazine’s
Incentive Travel Facts survey, travel
incentives increase sales by an average
of 15%. In addition, half of the responding
businesses reported that travel incentives
meet 75% – 99% of their marketing objectives.
Want to find out what actually
works to grow your business?
Sign up to receive free marketing
guide, ‘4 Steps To Increasing Your
Sales” and discover how you can easily
attract new clients, bring back more
return clients, and close more sales.
