An incentive program is an official method or system that has been used in order to support and promote the behavior and actions of a certain group of people for a limited interval of time. In order to make this program efficient, the factors that are responsible for affecting the behaviour of individuals should be acknowledged that includes inspiration, ability and recognition. The incentive program is very effective and achievable although it is very challenging in nature. Customers have become smart these days and all you need is to peculiarly isolate the type of business you perform from the struggle. The customers shop wherever they are able to get the best bargains possible. The travel incentives are among the greatest techniques of attracting and improving the business and for preserving the customers in order to get maximum profit. It also helps to enhance profit so that it can improve the productivity of the employees. All those companies who have made use of travel incentives for the marketing and promotional schemes have witnessed around 30% improvement in the sales of both buying and selling. The real foundation of having a settled and a successful business and marketing is to retain and encourage the loyal customers and their employees which is not a simple challenge. Travel incentive is anyhow going to accomplish the purpose. It has following characteristics:
- It is the advanced reward that is much beneficial than cash or any merchandise.
- It is a much remembered reward than any other types of reward.
- It helps in achieving recognition.
- It has higher value and appreciation level
- It gives a much reasonable edge.
Back in the year of 1999, the incentive federation made a report which clarified about the objectives of all the users. This survey helped in revealing about the strategy that a merchandise and travel are used to promote the business and in building a very cost effective and resourceful business. The study reported that the in 1996, 22.8 billion dollars was spent by businesses of US only on travel incentives and merchandise. It helped in promoting customers, employees, dealers and most importantly it helped in overall improvement of the performance. It is mostly used in programs for enhancing the sales and purchases of the business. It also improves the quality and productivity of employees. It rewards those individuals for giving desirable results in given amount of time.
Incentive travel in businesses motivates people and its employees for better work so that they can achieve their goals. It helps the employees in recognising their performance. It helps people in purchasing something that they do not generally buy and spreads a marketing scheme all around. The non cash awards and prizes like travel incentives are used in order to avoid the compensation issues. The utilization of individual incentive travel has developed more and more and are well accepted and admired by the companies who are in a favour of letting their winners travel all by themselves.