With the start of another year, take a few minutes to consider how you’ll meet your goals and sales targets for 2019. Your roadmap for the year should include a good deal of time meeting in person with existing customers since one of the best sources of new business is referrals. Consider this compelling statistic on the effect of business travel from the National Business Travel Association Study Conducted by IHS Global Insight:
Business travel creates value for your company
What seems like standard practice for every company is actually one of the last frontiers of optimization, just waiting to be explored. With spending on business travel projected to reach $1.7 trillion by 2022, and the average incremental return for every $1 spent at a staggering $15, business trips are a literal goldmine of value. Get a head start on meeting your 2019 goals by taking the time to consider your long-range business travel plans.
According to the Global Business Travel Association’s 2018 Global Report & Forecast, spending on business travel activity totaled $1.33 trillion in 2017. This includes travel taken for sales meetings, customer service, repair trips, professional development, internal company meetings and operations and quality control.
With so many people on the move, it’s no surprise that the return on dollars spent on sales calls and other business travel is huge. The National Business Travel Association issued a report in 2011 confirming the positive relationship between travel expenditures and top-line revenue by industry. It also validated the average 20 to 1 return companies see on business travel. This return on investment will go a long way toward helping you reach your sales and growth expectations for the year.
Travel Leaders Group wants to help you toward a successful and profitable 2019. Learn more about how to update your company travel policy and effectively communicate it to your employees who travel for work. Check out this article.
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 phone consultation that can help lower costs and improve employee productivity.