If you and your workforce travel for business, you know how important those in-person meetings are to building relationships and generating revenue. Being in the same room has proven to be the most effective way to sell your products or services and to acquire new business. In fact, the U.S. Travel Association estimates that every dollar spent on business travel yields a $9.50 return in revenues.
The U.S. Travel Association estimates that every dollar spent on business travel yields a $9.50 return in revenues.
Professional Help with Travel Arrangements Pays Off
The realities and complications of business travel can occasionally throw off a carefully-planned meeting or event and require a key staffer to clean up a logistical mess. Managing travel arrangements can be time-consuming, and it can only get more difficult when coordinating schedules, negotiating hotel group rates for internal meetings, not to mention dealing with weather delays or other unexpected circumstances. Is this how you want to spend your time? Or for your employees to spend their working hours? Probably not.
Determine if a Managed Travel Partner is Right for You
Outsourcing a function of your business in order to grow and focus on your core mission is a smart idea. Outsourcing your travel planning to a Travel Management Company is an even smarter idea. But determining if a managed travel program makes sense for your company takes some consideration beyond just knowing that planning travel can be time-consuming. Take our quiz to see if bringing in a travel management company would be in your best interest.
Ask Yourself These Questions
• How much do you spend on travel and expenses?
• Do you have a formal travel policy in place?
• If you do have a travel policy, are your employees are abiding by it?
• Can you track down your traveling employees in an emergency?
• Are you capitalizing on perks for your most frequent travelers?
• Is your company missing out on vendor perks?
• Do you want your employees to travel more often, but think it might be cost prohibitive?
Travel expenditures are typically among the top 5, if not the top 3 business expenses in a company budget. Consider the amount of time you and your employees spend booking travel and you’ll cringe to discover how many hours aren’t being spent directly on core business priorities.
Consider the amount of time you and your employees spend booking travel and you’ll cringe to discover how many hours aren’t being spent directly on core business priorities.
Don’t Miss Out on Big Discounts and Big Revenue Gains
If your company does not have a travel policy or if employees are not abiding by the one that you have, costs can sneak upwards quickly. What’s more, you could be missing out on volume discounts and vendor programs that save the company money based on how much business you devote to them, like the hotel chain in your most-frequented city.
Working with a travel management company will not only save time and money, but also it will allow for more frequent travel to meet with clients and prospects. Even better, it can free up your team to keep their focus on the outcome of the next important meeting instead of distractions like rebooking flights.
Ready to speak with a corporate travel expert about how you can better manage your business travel? Get in touch with us to schedule a free consultation that can help lower costs and improve employee productivity.