Incentive Travel Companies: Traits Of The Best Ones

what determines a good incentive travel company

Incentive travel companies are specialists in creating and managing bespoke travel experiences for businesses to reward their top-performing employees. These companies aim to motivate employees, increase productivity, and improve sales and overall company success. They combine the services of a travel agency, event planner, marketing communications expert, and business strategy consultant to create memorable and luxurious experiences that deepen employee loyalty and elevate their performance.

A good incentive travel company will have established partnerships with suppliers, including hotels, resorts, transportation providers, and activity companies, to offer exclusive experiences and favourable rates. They will also have expertise in selecting the right destinations, accommodation, and activities to suit the needs, budgets, and objectives of their clients.

In addition, these companies manage on-site logistics, coordinate transportation, oversee suppliers, and provide on-site support. They also assist in evaluating the success and return on investment of the trips through various tools and resources.

Overall, a good incentive travel company will create extraordinary experiences, provide cost savings, and ensure a seamless and memorable trip for their clients' top-performing employees.

Characteristics Values
Expertise in destination management Knowledge of destinations with the best accommodations, event venues, and activities for groups
Global partnerships Relationships with DMCs, CVBs, and DMOs to provide local expertise and support
Cost savings Negotiate lower rates and recommend alternative dates to save money
Turnkey event management A certified meeting professional (CMP) handles pre-planning, reservations, and on-site logistics
Up-to-date with trends Stay on top of new activities or gifts that will resonate with particular audiences
Hotel contracting Use eRFPs to uncover the best values at hotels
Risk avoidance Develop risk management strategies and contingency plans
Communication campaign Create a theme for the trip and use eye-catching artwork to increase participant buy-in
Custom website A promotional website to build interest in the trip and share news and updates
Overall expertise CMPs specializing in event planning, contract negotiation, securing entertainment, and logistical support

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Expertise in creating unique, memorable experiences

A good incentive travel company should have expertise in creating unique, memorable experiences. They should go beyond a simple vacation and offer exclusive, extraordinary experiences that are tailored to the group's demographics, interests, and preferences.

Incentive travel companies should provide creative ideas and excellent execution to ensure a successful and remarkable trip. This includes designing a trip with a unique blend of relaxation, cultural immersion, and team-building activities. Local experiences, special events, and opportunities for personal growth can be incorporated to make the trip more meaningful and memorable.

Additionally, incentive travel companies should have established relationships with suppliers, including hotels, resorts, transportation providers, and activity companies. This allows them to access exclusive experiences, favourable rates, and complimentary upgrades for their clients. They should also be able to suggest alternative dates or destinations that can provide significant cost savings without compromising the quality of the experience.

The best incentive travel companies will also provide a dedicated trip planner or manager who will handle all the details and logistics to ensure a smooth and enjoyable experience for everyone involved. They will also be able to provide on-site support and contingency plans to address any unforeseen issues or emergencies.

Overall, a good incentive travel company will create a trip that is not just a luxury getaway but also an opportunity for guests to have unique, memorable, and enriching experiences that they could not have attained on their own.

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Ability to negotiate contracts and deals

A good incentive travel company should be able to negotiate contracts and deals effectively. This is a key differentiator between incentive travel companies and leisure travel agencies. Incentive travel companies have strong relationships with hotels and vendors, allowing them to negotiate lower room rates, recommend better resorts, and suggest alternative dates for substantial savings. They can also obtain extra concessions, such as complimentary upgrades, catering discounts, and cancellation allowances. These savings offset the cost of hiring an incentive travel company, resulting in zero net cost for the client.

In addition to hotel contracts, incentive travel companies also have established partnerships with various suppliers, including transportation providers, restaurants, and tour and activity companies. These relationships enable them to access favourable rates, book exclusive experiences, and handle contract negotiations on behalf of their clients. Their global partnerships with DMCs (destination management companies), CVBs (convention and visitor bureaus), and DMOs (destination marketing organizations) provide valuable local expertise and support.

Incentive travel companies also have expertise in contract negotiation. They can assist with creating "incentive-quality" group travel programs that align with the earners' tastes and demographics. They understand the importance of creating a VIP experience that will be remembered fondly by the top performers, deepening their loyalty and elevating their performance.

Furthermore, incentive travel companies can provide turnkey event management services. Certified meeting professionals (CMPs) will handle the pre-planning, reservations, and on-site logistics to ensure a seamless and remarkable experience for the travellers. They can also provide VIP access to exclusive group activities, tours, and private events, creating a unique and unforgettable program.

Overall, the ability to negotiate contracts and deals is a critical factor in determining a good incentive travel company. Their expertise, partnerships, and industry connections enable them to create tailored experiences that maximize the impact of incentive trips while also delivering cost savings to their clients.

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Industry knowledge and connections

In addition, they should be able to provide creative ideas and excellent execution for the incentive trip. This includes handling all the details, such as travel and meeting planning, activities, food and beverage planning, event theming and décor, and on-site management. A good incentive travel company will also assist with risk management and contingency planning to ensure the trip goes smoothly and address any unforeseen issues.

The company's industry connections and knowledge should also extend to the latest trends in incentive travel. This includes staying up-to-date with new activities, gifts, and experiences that will resonate with employees. A good incentive travel company will attend industry trade shows and conferences to stay informed and network with colleagues.

Furthermore, a good incentive travel company will have a strong understanding of the client's industry and business goals. They will work closely with the client to create a trip that aligns with their specific goals and preferences, tailoring the experience to the target audience, whether it be a single top performer or a large group. This may include incorporating business elements like workshops or conferences into the trip while still maintaining a relaxed and enjoyable atmosphere.

Overall, a good incentive travel company will have the industry knowledge and connections to create a memorable and impactful trip that motivates employees and drives the desired outcomes for the organisation.

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Risk management and contingency planning

Incentive travel companies should have a disciplined risk management phase in their planning process. They should anticipate potential emergencies and roadblocks and develop strategies to mitigate these risks effectively. This proactive approach ensures that incentive trips run smoothly and achieve their intended outcomes.

The companies should also provide contingency planning as part of their comprehensive services. This includes preparing for unexpected situations and having backup plans in place to address them. For example, they may need to handle last-minute changes, cancellations, or other unforeseen circumstances. By having contingency plans, incentive travel companies demonstrate their ability to adapt and ensure the safety and satisfaction of their clients.

In addition, incentive travel companies should have established relationships with local partners, such as hotels, resorts, transportation providers, and activity companies. These relationships enable them to quickly access alternative options if needed. Their global partnerships and local expertise allow them to provide reliable quality and the best values for their clients, even in unpredictable situations.

Furthermore, a good incentive travel company will have the necessary resources and expertise to manage risks effectively. They should employ certified meeting professionals (CMPs) or other specialists who are well-versed in the intricacies of incentive travel. These experts can navigate complex situations, provide creative solutions, and ensure the safety and well-being of the travellers.

In summary, risk management and contingency planning are vital aspects of a good incentive travel company. By offering these services, companies can provide their clients with peace of mind, knowing that their trips are well-organised and prepared for any eventuality. This enhances the overall experience, fosters loyalty, and deepens the positive impact of incentive travel on employee motivation and performance.

Travel Guide: UK to Bahamas

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Measuring and evaluating the trip's success

The success of an incentive trip can be measured in several ways, and it's important to evaluate the return on investment (ROI) of these trips to ensure they are achieving the desired outcomes. Here are some key methods and strategies for measuring and evaluating the success of an incentive travel program:

  • Employee Feedback: One of the most direct ways to assess the success of an incentive trip is to gather feedback from the attendees. Sending out surveys and requesting evaluations can provide valuable insights. Ask about their overall satisfaction, the impact on their motivation and morale, and any suggestions for improvement. This feedback will help identify areas that met or exceeded expectations, as well as areas that need enhancement.
  • Performance Metrics: Analysing relevant performance metrics before and after the trip can indicate the trip's impact on employee performance and overall business outcomes. Look at sales figures, productivity levels, customer satisfaction ratings, and other key performance indicators to evaluate if the trip had the desired effect on employee productivity and the company's bottom line.
  • Employee Engagement: Evaluating employee engagement levels is another critical aspect of measuring success. Surveys, focus groups, and feedback sessions can help assess the impact of the trip on employee morale, teamwork, and collaboration. Look for indicators such as increased motivation, higher job satisfaction, improved inter-team relationships, and enhanced collaboration tools.
  • Return on Investment (ROI): Calculating the ROI of the incentive trip is essential to justifying the investment. Compare the cost of the trip, including all expenses, against the tangible and intangible benefits gained. These benefits can include increased sales, improved employee retention, enhanced customer satisfaction, and higher productivity. Demonstrating a positive ROI will help secure buy-in from stakeholders and justify future incentive travel programs.
  • Long-Term Impact: Evaluating the long-term impact of the trip is crucial. Measure the lasting effects on employee performance, engagement, and loyalty over time. Assess if the trip created a sense of camaraderie and improved working relationships that extended beyond the trip itself. A successful incentive trip should have a lasting influence on employee behaviour, motivation, and commitment to the company.
  • Qualitative Feedback: In addition to surveys, consider conducting interviews or focus groups to gain deeper insights. Qualitative feedback can provide context and nuance to the quantitative data gathered through surveys and metrics. It allows attendees to share personal stories, highlight memorable moments, and offer suggestions for future improvements.
  • Comparison with Industry Benchmarks: Compare the results of your incentive trip with industry benchmarks and similar programs within your industry. This comparison will help you understand how your program stacks up against the competition and identify areas where you can make improvements.
  • Post-Trip Support: Providing post-trip support and follow-up can also contribute to the overall success of the program. This could include debrief sessions, sharing trip highlights, and creating opportunities for attendees to reconnect and share their experiences. Ensuring that the positive effects of the trip are sustained and integrated into the workplace is a key indicator of long-term success.

By utilising these measurement and evaluation strategies, organisations can effectively assess the success of their incentive travel programs and make data-driven decisions for future initiatives. Regular evaluation ensures that these trips remain effective, engaging, and aligned with the company's goals and objectives.

Frequently asked questions

An incentive travel company helps businesses boost sales, productivity, loyalty, and morale by awarding top performers with a luxury trip getaway. They combine the services of a travel agency, event planner, marketing communications expert, and business strategy consultant.

Incentive travel companies can create a unique, bespoke experience that goes beyond a traditional vacation. They have established partnerships with suppliers, including hotels, resorts, transportation providers, and tour companies, to access favourable rates and exclusive experiences. They can also handle on-site logistics, risk management, and help evaluate the success of the trip.

Look for a company that can offer destination expertise, global partnerships, cost savings, turnkey event management, and up-to-date knowledge of trends. A good incentive travel company will have a certified meeting professional (CMP) who can create a "incentive-quality" group travel program.

The destination should be tailored to your target audience. Consider the demographics, interests, and preferences of your employees. Would they prefer a relaxing beach vacation or an adventure-filled expedition? Understanding their desires will help create a rewarding trip that everyone will strive for.

Decide on the type of incentive travel program (sales incentive, performance-based, recognition, etc.), use an online corporate travel company to manage the trip, and determine how you will evaluate the success of the program. Communicate the program details to your employees to generate excitement and participation.

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